The truth is that I tend to like a lot of what he writes Juan Manuel de Prada in SemanalXL magazine page, but this time very clearly explains the evolution of money (or rather the idea of "money")
A Everybody knows that money is, from the very beginning, a human convention.
there anyone out there in the remote night time, he decided to attribute to certain metals (precious call them, although its price is what gives our imagination) a value for the trade: he chose the gold and silver, as it could have chosen pebble beaches, or more accurately said, chose gold and silver instead of songs pebbles from the beaches because the latter were too easily available and have caused a "swelling" of wealth to bear.
limited availability of precious metals ensured that wealth is not lawless, and, above all, to circulate under the control of those who have the capacity to extract from the bowels of the earth, which ended up being the kings, or those who kings granted license to do so. There was a time in history that the "real money" (which, however, was a human convention) became "fiat money." The gold and silver coins were replaced by certificates (bills or notes) that ensured the existence of a sufficient deposit of gold or silver which the holder could make effective, such a certificate in the issuer of the currency.
was therefore a more money "unreal" yet the "real money", as well as accepting a human convention agreed that the commitments made by humans deserve 'trust', trust. But money was still a successful, if not in reality natural (because nature has not determined that gold and silver are more valuable than the pebble beaches), agreed a reality: the certificate still represented an enforceable right by the owner, by whom it was emitting.
This "money trust" was gradually being replaced by what, not without irony, called "fiat money" ("Let" in Latin), which promises its wearer no supply of gold or silver one, which and not based on any agreed reality, but is the product of a discretionary act of the ruling, which "creates" money by decree lacks support. For some time, this "fiat money" "Notes and coins still manage our transactions" came to represent, even partially, a conventional value that could be done effectively, as the issuer available gold and silver reserves sufficient. But as the use of "fiat money" gained currency, ceased to have any real equivalence. Today, gold and silver reserves held by the hands of the issuing banks are merely symbolic, and the value of banknotes and coins have that exchange is only nominal, not even based on trust, but rather in a deception all admit (because of fear or greed), our dependence on "Slavery"? "the ruling that has "created" by decree.
accept that these notes have the value specified therein as gullible subjects accepted the story that the king was dressed, when Porretta walking in the streets of the city. But even the human imagination devised another form of money even more detached from reality, money that can not properly be designated "convention" because it exists only as a disembodied fiction, represented by figures that wander like ghosts through the computer terminals .
This "imaginary money" began as a translation digit "fiat money" circulating in transactions commercial, but soon was getting fatter by trading and speculation, to double, triple, quadruple (and so on to infinity) the "fiat money" existing, a whimsical and chimerical status adds another fatal trait: each time that imaginary money becomes effective (ie, when he seeks to "collect" the fruit of their speculation) detracts from the amount of "fiat money" in circulation, thereby shrinking it, or requires governments to "create" more "fiat money" by decree (that is, to give the stamp handle banknotes), so that their value "purchasing power" is shrinking. You can maintain the fiction more or less time, but just giving sulking fiction with reality, and the more he tries to keep the fiction more morrazo Morrocotudo is: because the reality is that imaginary money has become the cornerstone of the system is "to paraphrase Góngora" smoke, dust, shadow, nothing
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