my personal view of what money is, is that it is a
promisory note stating that the amount of money "promisory notes" you is backed up by a
weight in gold. since we are unable to carry around kilograms of gold we are given money
as a token backed up by the reserve bank ie the holders of your gold, stating that
indeed you have the gold in their care and thus you are fit to purchase things to the
value of that gold. this was the original system of money but somewhere along the line
the system got corrupted and credit was born. credit is now saying that the money you
have is money the bank has borrowed you to say you'll have the money"you currently
don't" but you will at a certain given time.....
Saturday, June 27, 2015
Define Money.
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