3 Stages of Money
You may not be aware of…
Our views on money vary drastically. Some will say that “money is the root of all evil.” Others see it merely as a necessity for economic survival.
Many of us work for it. Some take it, and some invest it.
At times, needed money drives people to do unspeakable things, but it also drives others to be selfless and charitable.
My understanding of money is it makes you more of who you are. If you are a generous and thoughtful person, having more money will further highlight these qualities. On the other hand, if you are a person full of bad intentions, then extra money will enable you to carry out those bad intentions.
Many people’s lives are ruled by the numbers we aim to see hit our bank accounts at the end of every month. Still, the majority of people receive very little or no education at all on money management.
Longstanding relationships can break down due to the lack of money, and other relationships are formed due to the abundance of money.
Whatever your views are on the colored paper in your pocket and coins in your purse, money has and will continue to change along with the way we use it and live.
1. The Evolution
Back in 6000 BC, evidence shows that Mesopotamian tribes introduced a form of trading that we now know as bartering, which involves a direct trade for goods and services.
Adopted by the Phoenicians and improved by the Babylonians, the system continued to grow, opening up tribes, villages, cities, and countries to trading with each other.
Everything from weapons, tea, food, and spices, to furs, crafts, silks, and perfumes, anything seen as a value was traded for other wanted goods or services.
For many reasons, bartering was not the best way for many to carry out trading. If you are trading livestock or other large goods, then things become complicated. So, on its natural course of maturation, the system was again improved. Cowrie shells were then used as money alongside animal skins and other easily managed formes of value.
The Chinese then created imitation cowrie shells to use as money. They then introduced the first metal coins in the shape of knives and spades. These, of course, were not practical, and by 350 BC, they created the first round metal coins with square or circle holes in the middle.
Gold’s first use in coinage was the Lydian Lion coin, considered the oldest minted coin in the world, created in the Kingdom of Lydia, modern-day Turkey.
The Chinese started using paper money during the early period of the Song Dynasty in 960–1279, then in 1023, the Chinese government issued its official banknotes. The use of paper money spread, and in the 1600s, it was used in Europe, issued by Sweden.
During the 1800s, the US started linking the value of its paper money to Gold, and around 100 years later, during March in 1900, the Gold standard act was passed. Then a country’s currency was pegged to the value of Gold. Countries on the gold standard could not increase the amount of paper money they had in circulation without increasing their reserves of Gold.
Great Britain came off the gold standard in 1931, and other countries followed. The US cut all ties the dollar had with Gold in 1971.
Now paper money is called Fiat currency. Gold or any other commodity does not back it. It is backed by the government that issues it, which gives them and the central bank’s control over the economy.
2. The Control
Many may not believe it. But, most of us are caught up in the carousel of power and control that is our economy of consumerism.
We work hard to get by and are bombarded with every reason imaginable of why we need various products to be more healthy, beautiful, thinner and desired. Nothing is made to last but rather made to be replaced.
Everything from food, drinks, clothes, technology, houses, apartments, and transport is all pushed onto our senses in a way that is aimed to change how we think. The aim is to change how we think we should live in the world, and how we feel about ourselves. We are made to think that we are not enough without having what cooperations have to sell us. Some people even look down on others for having less.
People want the next best mobile phone, shoes, clothes, handbags and haircuts, yet cannot afford to pay for the basic needs of their family. They want to be seen as though they have everything, wearing all the latest brands, yet are unable to pull themselves out of growing debt.
Countries collapse, while others thrive. The poor keep getting poorer, while the rich grow more wealthy. Governments fuel inequality, and the divide grows bigger. Public services are underfunded, and the wealthy are under-taxed.
Whether we take notice or not, our lives are highly controlled by the financial system, and when this over-bloated fragile financial bubble goes pop, it is us that put faith in and rely on the powers that be, that will be hurt most.
I am not saying in any way whatsoever that money is not good. Still, I am saying that the financial system has been manipulated to serve the few, while the larger population struggle and suffer.
If we were less financially dependent, what kind of world would it be?
3. The Future
The future of money may seem like a fantasy to some, but it is already a reality to others.
The recession of 2008 pushed people to lose trust in the overall stability of the financial system. And on 31 October 2008, Satoshi Nakamoto published the white paper called Bitcoin: A Peer-to-Peer Electronic Cash System.
Bitcoin is a decentralized digital currency, said to be created to put the power back into the hands of the people and remove the control that the banks have over our finances. The decentralized aspect of the blockchain enables us to execute transactions without any intermediaries, quickly and with minimal cost. Of course, this is very attractive to many.
By 2017, the news of Bitcoin, along with other cryptocurrencies and blockchain technology, was everywhere.
As the identity of Satoshi Nakamoto has yet to be revealed, it does raise some red flags.
Yes, we do need a better financial system. And yes, we do need to have some control over our finances without worrying that the bank could restrict our access at any time.
But.
Was the cryptocurrency created by a pillar of the community wanting to help the world?
Or was it created by the powers that be, to implement another system, eventually giving them more control over us?
The rise in cryptocurrencies, Electronic Money Institutions (EMIs) and services such as Apple Pay, Google Pay, and many others. Show us very clearly that we are all being nudged towards using only digital services. Talks of cashless societies have been around for a long time and are slowly becoming a reality for us all.
A cashless society will undoubtedly bring about benefits such as lowering crime in anything that revolves around real money. There will be no more hassle in handling and managing it. Instant transactions and spending being fully traceable will make things a little easier for us all.
However, some say that the developments in the digital world are incremental steps towards us, all having an RFID implanted.
That’s crazy to believe, though, right?
Well.
In 2015, these chips were already being implanted into the hands of Swedish citizens.
Thousands lined up to replace the need for keys, credit cards, gym memberships, and even train tickets.
Further potential applications include, identification, remotely controlling human biological functions, transmitting measurements of chemical or biological data inside the body, and monitoring biological activity or physiological functions.
They could also enable certain powers to implement further control over us. Citizens could be forced to pay with microchip implants. Having a chip may become mandatory for citizens to apply for a job, or to get insurance, or being admitted to a school, and to claim benefits from the government.
We could be tracked at all times. Some even believe that the government could easily switch off our chip, removing our ability to have access to our identification and finances.
Who knows?
All of this could well be the dream of a nutty conspiracy theorist.
Or it could be our future.
Either way, physical or digital money, the way we use it and live, will continue to change.
But it is interesting to hear all the views people have on our future.
Some will be leaders, others don’t care, and some just want to be led.
