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Please understand that money is NOT the invention of governments or #Centralbanks .
Early forms of money (debt) were created to serve as an accounting identity some 5000 years ago.
Money has helped to create and nurture (free) societies throughout our history.
Thread. 1/5
Early forms of money (debt) were created to serve as an accounting identity some 5000 years ago.
Money has helped to create and nurture (free) societies throughout our history.
Thread. 1/5
Actual universal monetary value came to be in Ancient Greece, when also first banks appeared.
Greece also experienced the first-ever sovereign default, when Greek city-states defaulted on the loans from the Temple of Delos in around 400 B.C. 2/
Greece also experienced the first-ever sovereign default, when Greek city-states defaulted on the loans from the Temple of Delos in around 400 B.C. 2/
Ancient Rome had a very sophisticated financial system, and it also experienced the first-ever banking crises.
The idea of a central bank (as a 'liquidity back-stop') came to be after the collapse of banks of the families Peruzzi and Bardi in 1343 and 1346. 3/
The idea of a central bank (as a 'liquidity back-stop') came to be after the collapse of banks of the families Peruzzi and Bardi in 1343 and 1346. 3/
First actual #centralbanks were created in the 17th century.
The #Fed was created in 1914, after which it quickly started to take over the #economy .
After just 15 years of operation, the #Fed helped to unleash the most destructive financial crisis in modern history. 4/
The #Fed was created in 1914, after which it quickly started to take over the #economy .
After just 15 years of operation, the #Fed helped to unleash the most destructive financial crisis in modern history. 4/
The point: we DO NOT need the #centralbanks or governments to run our monetary systems! They may even make it more fragile.
Currently, they are just afraid of losing their power and that's why they are pushing us into the #Dystopia !
/End
@GnSEconomics https://gnseconomics.com/2020/11/11/into-the-global-economic-dystopia/
Currently, they are just afraid of losing their power and that's why they are pushing us into the #Dystopia !
/End@GnSEconomics https://gnseconomics.com/2020/11/11/into-the-global-economic-dystopia/
