|
| Thread: I want the earth + 5% |  This thread is pages long: 1 2 3 4 · «PREV |
|
Moonlith
Bad-mannered
Supreme Hero
If all else fails, use Fiyah!
|
posted December 21, 2008 06:09 PM |
|
|
I agree, it shouldn't. But it does.
____________
|
|
mvassilev
Responsible
Undefeatable Hero
|
|
posted December 21, 2008 06:21 PM |
|
|
How does it pay interest on its own money? 
Because I've pointed out the flaw in that example.
____________
Eccentric Opinion
|
|
TheDeath
Responsible
Undefeatable Hero
with serious business
|
|
posted December 21, 2008 07:20 PM |
|
|
Quote:
Yes, but people use currency because it is more profitable for them to use it than to barter. But if (as in this case) it is rather unprofitable for them to use this specific currency, then they're not going to use it. They'll simply tell Fabian, "Thanks, but no thanks."
The "people"? Since when did people PRINT money? The people can't print any currency, then can just either ACCEPT the current currency (pun intended) or barter.
Quote:
It doesn't.
How about you put more thought into your answers instead of just claims -- isn't it obvious from the above? Say that Fabian owns a private bank. So technically, he PRINTS THE MONEY, the CURRENCY.
What can people do about it?
1) Accept it
2) Not accept it, but then they'll run out of currency, so they'll have to barter
3) Make their own PRIVATE bank with their OWN currency
which isn't good.
Now I ask why the hell does Fabian demand an interest to the GOVERNMENT for the PRINTED money, which he can print out of thin air? Why the hell isn't it printed by the government because I have no idea. If it was printed by the government, it would not require any interest (or the government pays itself interest  ).
____________
The above post is subject to SIRIOUSness.
No jokes were harmed during the making of this signature.
|
|
del_diablo
Legendary Hero
Manifest
|
|
posted December 22, 2008 01:38 PM |
|
|
Quote:
del_diablo:
Quote:
Its also the first in the current era, so you got no dam competition.
Yes, but people use currency because it is more profitable for them to use it than to barter. But if (as in this case) it is rather unprofitable for them to use this specific currency, then they're not going to use it. They'll simply tell Fabian, "Thanks, but no thanks."
Sadly that is not what happened in this case.
Quote:
Fabian got all traders to accept it
How?
Quote:
This was the Government's one and only purpose and each Governor was voluntarily supported by the local community who elected him.
However, market day was the one problem they could not solve. Was a knife worth one or two baskets of corn? Was a cow worth more than a wagon � and so on. No one could think of a better system.
Fabian had advertised, "I have the solution to our bartering problems, and I invite everyone to a public meeting tomorrow."
The next day there was a great assembly in the town square and Fabian explained all about the new system which he called "money". It sounded good. "How are we to start?" the people asked.
"The gold which I fashion into ornaments and jewelry is an excellent metal. It does not tarnish or rust, and will last a long time. I will make some gold into coins and we shall call each coin a dollar."
He explained how values would work, and that "money" would be really a medium for exchange - a much better system than bartering.
One of the Governors questioned, "Some people can dig gold and make coins for themselves", he said.
"This would be most unfair", Fabian was ready with the answer. "Only those coins approved by the Government can be used, and these will have special marking stamped on them." This seemed reasonable and it was proposed that each man be given an equal number. "But I deserve the most," said the candle-maker. "Everyone uses my candles." "No", said the farmer, "without food there is no life, surely we should get the most." And so the bickering continued.
Fabian let them argue for a while and finally he said, "Since none of you can agree, I suggest you obtain the number you require from me. There will be no limit, except for your ability to repay. The more you obtain, the more you must repay in one year's time. "And what will you receive?" the people asked.
"Since I am providing a service, that is, the money supply, I am entitled to payment for my work. Let us say that for every 100 pieces you obtain, you repay me 105 for every year that you owe the debt. The 5 will be my charge, and I shall call this charge interest."
There seemed to be no other way, and besides, 5% seemed little enough charge. "Come back next Friday and we will begin."
Fabian wasted no time. He made coins day and night, and at the end of the week he was ready. The people were queued up at his shop, and after the coins were inspected and approved by the Governors the system commenced. Some borrowed only a few and they went off to try the new system.
Read and cry.
____________
|
| |
|
|
