Comments by "" (@budbas) on "Better Bachelor" channel.

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  42. ​ @j.b.708  the financial system is rooted on money. money, it's called a note and includes the promised to pay the bearer at the value of a note. Its origin is long from the middle ages where merchants put their gold into the bank and in exchange the bank write a note for the merchants to bring it anywhere he trades and convert it at the bank branch overseas where he trades. Before that, merchants literally bring their gold as a portable value of exchange. Gold itself is just a representation of value that is generally acknowledged in society. It is not absolute, but generally accepted medium. People in the middle of the desert may value a glass of water more than gold. If money is a promissory note of gold, and gold is just a portable medium for exchange, then what are the real things exchanged between people?. The real thing is the services and goods exchanged represented by gold and (later) money in the modern era. That medium acts as a middle ware between producer and the consumers, and the complex system derivative of it is what makes today's world running, controlled by the few. The only way to escape from this controlled system is to make a direct exchange between the producer and the consumers, bypassing middle ware altogether. I refer to barter. A direct exchange between two parties without intermediary medium. And when there is an excess of disposable income which I gained from inside the system, I convert it to gold and sometimes use it as a portable medium of transaction. You may use other mediums like Bitcoin that is external to the system.
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