Those reading from Canada will recognize this shopping icon: Canadian Tire Money. While technically it should be considered a coupon vs currency, this is still another example of a form of money. It is issued debt & interest free by Cdn Tire Corporation and is good for almost anything sold in one of their stores. This author has also heard tell of various home parties (candles, home kitchen tools, etc.) where CDN Tire Money is accepted as payment due to a member of the household being a regular shopper at that store.
Let's put it through the checklist, does it meet the criteria for money:
concept, an idea, an information system accepted medium of exchange for transactions limited in scope but yes a store of value a unit of accountConclusion: yes, Canadian Tire Money can be considered a form of money, represented via a paper currency noted in the image.
But what is it really?
A piece of paper . . . paper that only has value because you have faith that it can be exchanged for goods and services in the future.
Wikipedia - Canadian Tire Money
Wikipedia saidCanadian Tire money (CTM) is a loyalty program by Canadian Tire. It consists of coupons, issued by the company, which resemble real currency (although the coupons are considerably smaller than Bank of Canada notes), and can be used as scrip in Canadian Tire stores, but is not considered a private currency. The notes are printed on paper similar to real Canadian currency, and were jointly produced by two of the country's long-established security printers, British American Banknote Company (BABN) and Canadian Bank Note Company (CBN). Some privately owned businesses (in Canada) accept CTM as payment (see history below), since the owners of many such businesses shop at Canadian Tire.
This one is more of
a food for thoughtrelated to inflation than an example. It is a simplified look at bread production to make a point.
According to the U.S. Bureau of Labor Statistics, the price of a loaf of bread in January 1913, the year that congress was bamboozled into the federal reserve system, was $0.05. Tractors were not yet widely used making harvest of grain a difficult and labour intensive task. Production technology was not nearly as advanced as we have now. Fast forward to 2013 where a loaf of bread sold for $1.42, a 2,740% increase but yet harvest and production capabilities have vastly improved thereby driving down the cost of production.
How then do we account for this massive increase? Inflation caused by our debt based monetary system is the first place I would look.
Average Food Prices: a snapshot of how much has changed over a century : Beyond the Numbers: U.S. Bureau of Labor Statistics
Farming Methods and Practices
The mortgage is the elder statesman of the monetary scam. This loan has been used for decades to rob folks of their hard earned efforts at no risk (they get the asset in forfeiture and the mortgage is insured) or effort (the "money" for the mortgage is created out of thin air on a keyboard) of the issuing bank.
Internet commenter "daznez" sums it up beautifully. Here's what he had to say:
daznez saidThe simple truth of the matter is every mortgage on earth is fraudulent. When you apply for a mortgage, they will check your 'credit rating' and see if you are honest, reliable and have the means to pay it back, which is of course only fair and proper, i'm sure we would all agree.
What we then assume they do if we are approved is lend us their money, deposit it in the vendor's account, and we then proceed to pay it back over 25 or 30 years, with interest. Now with the interest it is normally 2 or 3 times the purchase price, but we size up the repayments and judge if we can afford them, and of course, we now have our own house and somewhere permanent to live - one of our great fears/ needs is assuaged.
The only trouble with this fantasy is this: the bank doesn't lend us any money at all. This is the con that almost no one can get their heads around, even those who are uncovering parts of the banking scam and have begun to suggest alternatives and new 'fairer' banking systems:
the mortgage loan application we sign over is actually our promissory note - a promise to pay a certain sum of money over a certain term. That's all it is, and all loans, credit cards and mortgages work in the same way. All the banks are doing is taking your promissory note - which represents the future earnings from your labour, skills, knowledge and creativity, pretend that it is THEY who hold this value, and then sell it back to us at triple the cost!
Now how is that for the biggest scam you could ever imagine?
It's like my taking something you already own - your car, for example, and selling it back to you at double the price you (already) paid for it. Though also if you don't keep paying for it we take it back off you as well! could you ever come up with such a brilliant scheme to enslave a whole species of people and therefore a planet without anybody noticing?
Because this giant con affects every one of us, whether we have a mortgage or bank debt or not - all businesses borrow money in this way from banks, so this scam seeps through to all of human commerce and endeavour. The end goal is for them to own everything and for humans to own nothing - total slavery of every man, woman and child now and to be ever born here - your children's children and on forever.
We are led to believe it is the banks that have the money, governments that have authority and the media that has the truth, when all those things are ours in the first place - we are deceived into giving them away by being belittled, en-feared, robbed, lied to and divided. And of course programmed and hypnotised to not notice this sleight-of-hand that goes on right in front of our noses but robs us of almost all our value.
It is time for the human race to get up off its knees and bring this corruption and enslavement of itself to an end. Those in positions of authority in this country and others are selling their own brothers and sisters down the river, for a brief taste of power and luxury. This is but one life, one frame in a vast and never-ending movie of infinite experience, and separation between beings is merely an illusion, as they are to their horror going to find out very soon. individually, we can help throw off the shackles by refusing to pay towards our own and everyone else's continued slavery any longer.
It takes courage but boy is it the right thing to do. Daznez
Assume you are a shed builder. Someone has asked you to build a shed for them; they need this shed so it's something that has value for this person. In return, they have agreed to give you something that has value to you, but alas, after examination they do not possess nor can they create anything that has value to you, an impasse is reached. Enter money. In exchange for the shed, the requester gives you some paper which can be used elsewhere in society to acquire goods and services that have value to you. Generally you will be seeking a fair compensation for your efforts in building the shed an amount that you feel equates to your output. Impasse overcome and both sides of the transaction are happy due to a piece of paper.
The important point to take away from this example is that the transaction had NOTHING to do with acquiring money, it was solely about fulfilling a need or requirement in the form of the shed. Produce, consume, exchange yes, about money, no.
You require a replacement washing machine which a friend of yours has. This same friend requires a replacement dryer which you have. The setup is exactly the same as each of you going out to buy a replacement from a store. Since you each have what the other requires, an exchange works great here, a barter. Barter is still the basis of our economy today, just in a different form as this example outlines. The one key component you are each missing is a truck or method of transport to complete the transaction. The appliances are too heavy to lug across town by hand.
Enter person C.
This individual has a truck which is perfect for your needs. This person however does not require a washer, dryer or anything else that you or your friend have; your assets contain nothing of value to him/her. This is where barter struggles. Enter money again. By giving person C a piece of paper which they can redeem for goods or services elsewhere in society, we are now facilitating the exchange of the washer and dryer and thus completing the transaction.
It's important to note here: the piece of paper in this example does not have to be a common currency! It can be anything that has value for person C: oil change coupon, a gift certificate at a local eating place, free ride(s) at a carnival, the sky is limit.
The point here is that it's not about acquiring the piece of paper, it's about the exchange of the washer and dryer, period.