If (or when) money fails....
Started by sphinx, 4th June 2019 22:44 in Talk & Chat

  1. #1 | 2119415
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    Default If (or when) money fails....

    Memnoch
    until the whole thing just falls apart and we're back to swapping pigs for potatoes....................The only difference is the crypto-currencies have no reserve, they are 100% based on nothing so they will fail first, but conventional money isn't far behind.
    What have BC members got to offer for barter?

    I don't think any of us keep pigs ....Scrot grows potatoes, tomatoes and beans - but hardly enough to use as currency.

    I have my peg-makoing, of course.

    Seriously, what skills do we have?

    I can knit and sew...and know how to unpick materials and turn even polyester into yarn, for blanket making.
    I'd also get some chickens, to use the eggs for barter...I don't like eggs myself, (nor chicken meat) but maybe I would learn to.
    Love bears all things,believes all things,hopes all things,endures all things. Love never ends. 1 Corinthians: 13
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  2. #2 | 2119417
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    Default Re: If (or when) money fails....

    I will turn to prostitution.

    And cannibalism
    Do not let the oppressed retreat in disgrace; may the poor and needy praise your name..
    Liked by: sphinx


  3. #3 | 2119421
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    Default Re: If (or when) money fails....

    Poor old Sphincter.

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    Default Re: If (or when) money fails....

    Chris Mitchell could bake a geet big cake!
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    Default Re: If (or when) money fails....

    Scrotnig
    Chris Mitchell could bake a geet big cake!
    Yes, but from where would he obtain the flour, eggs, butter, sugar and so on?
    Love bears all things,believes all things,hopes all things,endures all things. Love never ends. 1 Corinthians: 13

  6. #6 | 2119425
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    Default Re: If (or when) money fails....

    sphinx
    Yes, but from where would he obtain the flour, eggs, butter, sugar and so on?
    He could have obtained them in exchange for his previous geet big cake!
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  7. #7 | 2119426
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    Default Re: If (or when) money fails....

    Scrotnig
    He could have obtained them in exchange for his previous geet big cake!
    But what would be the benefit of that?
    Love bears all things,believes all things,hopes all things,endures all things. Love never ends. 1 Corinthians: 13

  8. #8 | 2119427
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    Default Re: If (or when) money fails....

    sphinx
    But what would be the benefit of that?
    You would aim to get slightly more eggs and flour than a cake takes to produce, thus turning a profit.
    Liked by: Luna, sphinx


  9. #9 | 2119444
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    Default Re: If (or when) money fails....

    The premise is questionable. Money isn't going to fail, as long as it's backed up by the state, which is why the monarch's head appears on all notes and coins. Ultimately it's based on nothing; it is useless and inedible; I accept it on the basis that someone else will accept it from me. So it is just a convenient means of exchange. Banknotes have written on them "I promise to pay the bearer the sum of X pounds". X pounds of what?
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    Default Re: If (or when) money fails....

    sphinx
    Seriously, what skills do we have?
    People without them would acquire them out of necessity. Society's ability to support the lazy would be severely reduced. War for resources would be endemic. Politics would become a pointless intellectual exercise no one could afford.

    The whole system would have to reset. The only way to prevent the process of creating worthless money being repeated would be to prevent banks issuing transferable IOUs for money that doesn't exist, i.e. all 'cash' in whatever form it takes has to be backed up by something tangible. Likewise all loans, because if you borrow some money and you don't own anything that's worth that amount and then you spend what you borrowed, you have increased the amount of money that exists - by having it written into a book as a debt against you - but you haven't increased the value of the car or whatever it was you spent the money on, so the money-out-of-nothing you borrowed is now worth less than it was when it was created for you. In simple terms there is more money tied up in the car than there was but the car isn't more valuable than it was so the value of the money is diluted.
    Liked by: sphinx


 


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