Almost three thousand years ago, within the confines of a small mud-brick workshop, a metallurgist laboured tirelessly at his task. With thick curls of kyphi incense smoke flooding the air, and under the flickering radiance of burning lanterns, the artisan and his apprentice worked long into the evening on a shining lump of metal that carried tremendous significance for his people.
The banks refer to all fiat currencies as M1 M2 M3 etc. but only those things that have intrinsic value can be considered money ..everything else can only be fiat currency including legal tender and promises to pay in legal tender..if there is interest attached to that bond document and the interest is never created then have a pyramid scheme endorsed by Governments and the legal system they create..
The banks refer to all fiat currencies as M1 M2 M3 etc. but only those things that have intrinsic value can be considered money ..everything else can only be fiat currency including legal tender and promises to pay in legal tender..if there is interest attached to that bond document and the interest is never created then have a pyramid scheme endorsed by Governments and the legal system they create..