You walk into a Starbucks and order a coffee, pay $4 and they owe you a coffee. They make it to your order. Until the deliver it, Starbucks is indebted to you. When they hand you the coffee, their debt is extinguished.
After church Sunday morning, they offer you coffee at the fellowship hour. They say the coffee is free, but there is a price to be paid, hang out and talk to other people while you have coffee. After say ten minutes your "debt" is extinguished.
Either way, debts are formed and extinguished.
Now of course you could be driving through God-fearing country some Sunday morning and find no Starbucks open, and you cannot love the morning until you've had your cup of Joe. You spot a church letting out, and so you pull in and head into the social hall and there it is: the coffee. You head up to the coffee and some guy with a "Hi My name is Buford" tag on his shirt give you a big grin and offers you a hand and says "I don't believe we've met!"
And you can say "No brother we have not, but I cannot love the morning without coffee, but I am in a rush. I can't stick around, but can I kick in $5 to help the pastor continue his good work here and take a cup of the coffee to go?" So you an convert one kind of debt to another, but in most instances of human action, debts are formed and extinguished.
There are instances where debts are not extinguished, and we call that charity.
There are trade imbalances that matter not. Whether China sells more to USA than USA sells to China does not matter. Trader Joes has sold far more to me than I have to Trader Joes, in fact, I've never sold trader Joe's anything. So we have a massive Trade deficit. No one is harmed, because debts are extinguished. On the other hand, countless people buy from me knowing full well I will never buy form them.
To a large degree the act of extinguishing debt can be delayed. Amazon pays me at the end of the month following the month where sales took place, meaning never less than 30 and never more than 60 days. They form a debt when I deliver my product for them to stock, they extinguish the debt when the pay.
Unless a payment is in gold or silver, pretty much, money never enters into this. Amazon has tallies in its bank accounts, I have tallies in mine, computers move tallies of "currency" around and on any given day these are changing. People commonly call this money, but since few if any of the people who use the term money can not define money or agree on a definition of money, it ain't money, it is something else (it is tallies.)
We used to run tallies all oven the place and extinguish them at the end of the month. Your performance of creating and extinguishing debt gave people the sum total of experience with you, and on this nitty gritty level people knew each other, this built community.
All gone now, but this new system is destructive, distorting, generating massive malinvestment. It is already failing, so no need ot overthrow it. It is just time to start rebuilding, by extending credit in your business.
Feel free to forward this by email to three of your friends.
After church Sunday morning, they offer you coffee at the fellowship hour. They say the coffee is free, but there is a price to be paid, hang out and talk to other people while you have coffee. After say ten minutes your "debt" is extinguished.
Either way, debts are formed and extinguished.
Now of course you could be driving through God-fearing country some Sunday morning and find no Starbucks open, and you cannot love the morning until you've had your cup of Joe. You spot a church letting out, and so you pull in and head into the social hall and there it is: the coffee. You head up to the coffee and some guy with a "Hi My name is Buford" tag on his shirt give you a big grin and offers you a hand and says "I don't believe we've met!"
And you can say "No brother we have not, but I cannot love the morning without coffee, but I am in a rush. I can't stick around, but can I kick in $5 to help the pastor continue his good work here and take a cup of the coffee to go?" So you an convert one kind of debt to another, but in most instances of human action, debts are formed and extinguished.
There are instances where debts are not extinguished, and we call that charity.
There are trade imbalances that matter not. Whether China sells more to USA than USA sells to China does not matter. Trader Joes has sold far more to me than I have to Trader Joes, in fact, I've never sold trader Joe's anything. So we have a massive Trade deficit. No one is harmed, because debts are extinguished. On the other hand, countless people buy from me knowing full well I will never buy form them.
To a large degree the act of extinguishing debt can be delayed. Amazon pays me at the end of the month following the month where sales took place, meaning never less than 30 and never more than 60 days. They form a debt when I deliver my product for them to stock, they extinguish the debt when the pay.
Unless a payment is in gold or silver, pretty much, money never enters into this. Amazon has tallies in its bank accounts, I have tallies in mine, computers move tallies of "currency" around and on any given day these are changing. People commonly call this money, but since few if any of the people who use the term money can not define money or agree on a definition of money, it ain't money, it is something else (it is tallies.)
We used to run tallies all oven the place and extinguish them at the end of the month. Your performance of creating and extinguishing debt gave people the sum total of experience with you, and on this nitty gritty level people knew each other, this built community.
All gone now, but this new system is destructive, distorting, generating massive malinvestment. It is already failing, so no need ot overthrow it. It is just time to start rebuilding, by extending credit in your business.
Feel free to forward this by email to three of your friends.
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