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RE: Ivan on Tech debates Peter Schiff - Bitcoin vs Gold, US Dollar Crash
The history of money begins with people bartering. I think someone else needs to read a book...
The history of money begins with people bartering. I think someone else needs to read a book...
No it doesn't... where did you read that? Money starts with fiat money about 5,000 years ago in the middle east ... it was credit that kept track of debts between citizens in. There's no evidence of bartering in our history (despite what economist speculate in their textbooks)... there were complex systems of gifting goods between friends and family but no bartering (which is distasteful in most cultures). We went from fiat credit to coins around 250 BC when formal armies started to be formed.
Read a better book :p
Yes and history has proven that every time there is a crisis that barter system makes you reconsider what the value of some goods are.. for instance a roll of toiletpaper and tampons are worth much more when SHTF. Everything seems common and taken for granted until the music stops. Haven't drank the kool aid but nothing wrong with some extra water, rice, beans, ... in your personal stock.