2011/12/15

debt, money and credit

Two months a go I have write some ideas about money. Yesterday I read the Spanish translation of an interview to David Graeber (I think this is the original in English). I didn't read before about this guy, who is described in Wikipedia as "American anthropologist and anarchist".


It's interesting what he says about the origin of the money, specially the sequence between credit, debt and money. Before the existence of money, there where already credit and debt. And the coinage of the money was (at least in the mentioned cases) the solution to pay the troops. The people who produces something, had something to exchange, but the troops needs coins to get things. This coins are after requested by the boss to the people to pay the taxes to pay the troops.


It's also interesting from this interview reading that the debt make slaves. How the extortion can create and produce a relation of debt. Changing what is said there with the word "Mafiosi" by "the markets", and "extortion" by "speculation" you can describe the current situation of this "European debt crisis".


But still the money doesn't exist. Yes, today the banknotes and the e-cash are used all the days by (almost) every one. We all are in the loop, specially in the loop of the debt more than in the richness. Renting your arms in a factory for a salary, is the way of debt. Non of the ones who have accumulated richness have get it working hard 40 years in a factory. We lived over our possibilities? Well, you can be agree or not, the thing is that the ones who says that to the PIGS are still living with in the same good way than before.


Governments have to generate debt to pay the black holes of the banks, and this debt is bought by the banks who next will request money to the governments. This is like a pyramidal trick, there is no way to get out of it. Maybe only with the system reset.

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