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RE: My Experiences in the Financial Markets.

in #market6 years ago

Your story about the creation of markets and this led to barter and then creation of money is a MYTH (lie) -- Anthropologist have proven that this myth is wrong about 100 years ago but the lie is still taught in economics books. Look up David Graeber who wrote the book Debt the first 5000 years. The truth is that first written records from 5000 years ago are actually ledgers. So the real history goes something like this -- people that traded with each other in villages actually kept tabs and no money was ever exchanged -- a tab could be measured by a bushel of grain - physical money was not needed, first money was virtual, next came credit and last was physcial money. Barter never came into existence until after money was created -- now markets and money were created by the state, money was created to raise armies and they made coinage to pay their soldiers (couldn't pay them in chickens) -- now to make this money worth something the state demanded that taxes be paid in this coinage -- now that people needed coinage the markets were created -- they traded their chickens and eggs for coins thus they could pay their taxes and armies could now be raised with soldiers being paid coins. Barter does come into existence when coinage is not available, but only after coinage is invented. Look it all up if you do not believe me -- IMF has actually started getting the story in their explanation on their website. Or look up David Graeber and Michael Hudson they both explain it. This myth needs to stop being told.

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