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RE: The story of how pieces of paper became money

in #money • 7 years ago (edited)

Well written!!! Enjoyed reading your post.

Still there are many people who are deeply into the system and does not understand the real meaning behind the paper money.

They look at me in disbelief when I told them that these paper money we use today is receipt for gold.

Our monetary system is long overdue and another economic crash is on the way.

The events leading to the future of cryptocurrencies have already starting begun. The future is now :)

Following for more great posts!

7 years ago in #money by
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     7 years ago 

    Yup exactly! We are headed back to the sound money principles! In the Golden Age it was Gold and Silver that became the standards for money... Now in the INFORMATION AGE it's going to be Decentralized Cryptocurrencies! :)

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       7 years ago 

      well, @pisolutionsmru . Paper money isnt receipt for gold for a long, long time now. It used to be and in those times evey USD had "exchangable for gold" clause on it. Not anymore tough. Bank loans made sure of that ;-)

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         7 years ago 

        And we are still using it thinking that it has value!!

        Banks have been able to blind the whole!

        But explaining these concepts to all people is difficult. They will simply not believe it

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           7 years ago (edited)

          yes. Paper money is in circulation just because we all accept it in a firm belief that tomorrow we will be able to buy food with it... :-)