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Old October 9th, 2008, 07:52 PM
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Default Re: OT: US Pres election

Well, how real do you want your money to become again? Back to exchanging real goods and resources? Those three eggs and the hen in your purse could become a bit unhandy. Money has always been just a token. The simple principle is that you can give it to somebody and he gives you something in return, a good or a service. The wonder is that he actually does accept that you give him just that mere token. That only works because of trust. Trust, that this token is worth something. That's the principle on how labor can be traded. Banks only work on trust, too. No bank is able to pay back all the money of its customers if they'd all come, because that money is inaccessible, it's been given out in loans that run for years, lots of years, thirty years or more. The problem is partly because the banks started trading those debts, yes, but on the other hand it's because people were living way over what they were possibly able to pay back, too. The fun thing to consider: what we see right now is only the beginning.
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