When I started my journey about economics, I asked a basic question… how did the use of money come about and who started it? I knew my ancestors used to barter or trade goods and services to co-op in their communities. I will give you the short version of the answer but do your own research.
They teach you that money is a medium you pay with (transaction) to gain goods and services as well as repayment of debt. However, take out your £5, 10, 20 or 50 note and have a good look. You will see under the title ‘Bank of England’ at the top of the note:
It says: “I promise to pay the bearer on demand the sum of”. Isn’t that something you write when you take something and you write ‘IOU’ note? Well this is what money is. Money is an IOU note. It is a note you create when you are in debt. It is the same for US Dollars and money all over the world but they say “this note is legal tender”.
Legal Tender means coins or banknotes that must be accepted if offered in payment of a debt. Legal means pertaining to the law and tender comes from the french word tendre meaning offering and in Latin it means to stretch out. All personal cheques, credit cards, and similar non-cash methods of payment are not usually legal tender. The law does not relieve the debt obligation until payment is tendered. In essence, we create debt when we engage in a transaction to pay a debt. Our coins and notes holds no true value.
Where did this come from? For a long time in human history, people swapped resources, livestock, slaves, crops, brides and dowry as a way of payment. There were issues with this bartering system such as transporting large payments, perishable goods would go off quickly and often values did not match equally. In the West, payment was in the weight of gold as a way of overcoming the drawbacks. However, large payments of gold was not practical to carry around due to its dense weight, it was not easy to pay small amounts of gold in its brick like form and people frequently were robbed. In 200 AD, they started producing gold in smaller and lighter forms to make smaller payments easier with coins. Countries started mass producing gold coins with equal weights and would stamp the coins weight and worth for fairer transactions. A lot of people would go to their goldsmith to hold their gold coins for safety and the goldsmith would give a receipt in form of banknotes with the amount of gold they had. These goldsmiths turned themselves in to banks as the financial institution, replaced gold with just notes that has been modified since the 15oos until now.
Debit and credit cards were introduced in the 1950s in order for people to be cashless for convenience. With the development of technology and internet, our money became “contactless” and just ones and zeros. We went from natural resources from nature to 1s and 0s. The worth of money has been reduced from the tangible to the intangible. As well as from high valued items to 1s and os created from nothing, having the value of nothing.
The biggest con in the matrix system.
In part 4, I will show you how money is really making us slaves physically and fiscally. I am going to expose the illusion and the ways they are keeping us in the matrix, creating a self generating system that we are literally feeding into with our debt, debit, credit, mortgage, student loans and other means.
I hope thus far, you can stick with me because I am giving you FREE information that the banks will never give you. Financial freedom is attainable and I will help you to start to see the light at the end of the tunnel in part 5.
May you live long and prosperous.