DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Where has all the money in the world gone?

**mynaflzak** · 06-11-2012, 03:14 PM

Screech! Wait a sec.

Going back to the OP's story intro. Why is it presumed that the apple farmer borrowed against his future harvest?
If the farmer wanted something, why did he not just wait till the apples or grain or whatever were busheled up and then taken
into town to be converted into scrip or money that could be traded for other stuff.

In that case, money would not be credit/debt based at all, but represent the actual value of a quantity of apples,
although I'm not sure how that value would be determined.

Two things. First of all, apples are only available at harvest. In that system he could only buy things once a year, because his apples have a limited shelf life.

Second, even if he did have the apples on hand, it's still credit. If you take the note to him, how do you know the apples will still be there? How do you know they will be as advertised? How do you know he will honor the note even if he's got the apples?

06-11-2012, 03:14 PM	#10
mynaflzak Join Date Oct 2005 Posts 558 Senior Member	Screech! Wait a sec. Going back to the OP's story intro. Why is it presumed that the apple farmer borrowed against his future harvest? If the farmer wanted something, why did he not just wait till the apples or grain or whatever were busheled up and then taken into town to be converted into scrip or money that could be traded for other stuff. In that case, money would not be credit/debt based at all, but represent the actual value of a quantity of apples, although I'm not sure how that value would be determined. Two things. First of all, apples are only available at harvest. In that system he could only buy things once a year, because his apples have a limited shelf life. Second, even if he did have the apples on hand, it's still credit. If you take the note to him, how do you know the apples will still be there? How do you know they will be as advertised? How do you know he will honor the note even if he's got the apples?
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