“what is debt?” and the origin of currency systems of gold etc

Monopoly

Monopoly (Photo credit: Mike_fleming)

Photo: www.collectivelyconscious.net - Where artists, seekers, activists, and healers UNITE! ♥ :)

What is debt? Here is the definition of debt:

Debt is a term that is used in accounting and law to refer to a claim that one party makes in regard to the property or productivity of another party. When a group of thugs declare that someone owes them some debt as “protection money,” that is called legitimate taxation if the system of organized coercion is big enough and stable enough to monopolize that kind of business and criminalize similar competitors as “extortion.” The large systems of organized coercion are called courts and governments and their leaders also declare the accounting unit that people can use to pay the tax claims “invented out of thin air.” That is the origin of currency and of currency systems of organized violence. Each currency unit is like a ticket worth a certain portion of violence from the court system, like useful for hiring the thugs to perform evictions and garnishments and so on.
Because gold was rare and governments centers such as Babylon and Rome could also monopolize access to gold mines, gold was a popular tangible substance that currency systems of organized violence would create demand for by declaring as the only valid form of payment accepted for paying the invented tax extortion claims. Note that when a system of organized extortion dissolves or is colonized, like the US confederacy, their currency is suddenly worthless because their system of organized coercion ceases to function.

English: Loot and Extortion. Statues at Trago ...

English: Loot and Extortion. Statues at Trago Mills, poking fun at the Inland Revenue. (Photo credit: Wikipedia)

English: Kurt Haijby (left) and lawyer Henning...

English: Kurt Haijby (left) and lawyer Henning Sjöström (right) on the way to trial on charges of extortion against the royal court. Svenska: Kurt Haijby (v) och advokat Henning Sjöström (h) på väg till rättegång anklagad för utpressning mot hovet. (Photo credit: Wikipedia)

Currency - scanned 2012-6-6 04 001

Currency – scanned 2012-6-6 04 001 (Photo credit: George Morris)

Tax

Tax (Photo credit: 401(K) 2012)

en: Photo of Euro coins and notes. da: Foto af...

en: Photo of Euro coins and notes. da: Foto af Euromønter og -sedler. (Photo credit: Wikipedia)

English: Icon of U.S. currency.

English: Icon of U.S. currency. (Photo credit: Wikipedia)

 

Advertisements

Tags: , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: