We did not move away from money... all is still down to gold and silver and platinum...
We did move away from warehouse receipts that represented money.
In my youth, as I have recounted on this blog, I'd visit various stores to shop for the house on my parent's behalf and "charge it." At the end of the month, my Dad would settle up. That was credit, and there was no interest. People bought what they needed. Money did not grow on trues.
Feel free to forward this by email to three of your friends.
We did move away from warehouse receipts that represented money.
In my youth, as I have recounted on this blog, I'd visit various stores to shop for the house on my parent's behalf and "charge it." At the end of the month, my Dad would settle up. That was credit, and there was no interest. People bought what they needed. Money did not grow on trues.
When Nixon tried to print money to pay for the American War in Vietnam, the markets objected and constrained war criminality. The official response was fraud, to go off the gold standard, and unleash credit backed by USA's ability to pay based on its ability to conquer new lands.
Credit cards began being issued like crazy, and over the decade I had some 25 or so. They we easy to get. Money now did grow in trees. But we lost the American War in Vietnam and the economy took a downturn. Jimmy Carter was elected president, he made some economic reforms, inflation showed up as a corrective, and Carter was run out due to bad timing.
The benefits of Carter's economic policies showed up in the Reagan Admin, since these things take time.
Now we create income streams in a currency superior to anyone else's, only because we carefully debase our currency a little slower than everyone else is debasing theirs.
Credit cards began being issued like crazy, and over the decade I had some 25 or so. They we easy to get. Money now did grow in trees. But we lost the American War in Vietnam and the economy took a downturn. Jimmy Carter was elected president, he made some economic reforms, inflation showed up as a corrective, and Carter was run out due to bad timing.
The benefits of Carter's economic policies showed up in the Reagan Admin, since these things take time.
Now we create income streams in a currency superior to anyone else's, only because we carefully debase our currency a little slower than everyone else is debasing theirs.
What happened is we moved from Ruth Rose Roos putting "Spiers" on the receipt and throwing it in the till to credit cards. And the giant new increase in bank transactions to cover what Ruth once did was to automate this with ATM and supermarket scanners. And increase taxes on those transactions, since they could now all be centrally counted.
When the dollar dies, like the weimar mark, and every single other fiat currency in the history of mankind, we'll need to know about the system it replaced, the system that worked and was natural. don't worry about the dollar crashing. We'll go back to a better system.
Feel free to forward this by email to three of your friends.
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