浪子欣欣
这个词---博客，实在太傻。
正文
The history of debt started more than 4000 years ago in 2000 B.C from the Babylonian economic system. Instead of coins they used clay tablets representing the promise to pay. People only borrow money when in need. A need is not a mobile phone, MP 3 Player a Porsche etc - these are all wants.
Farmers would only borrow for seed for next year’s crop after they had a previous failure. They were forced to go to the priests for a loan. The priest would lend the farmer say 10 talents, with the condition that he repays 11 (10%).
His land ,wife, children and himself were used as collateral (I guess the wife and children were worth more in those days ).The farmer couldn’t repay 11 talents as there were only 10 in circulation, he therefore defaulted and they would take his land, cattle and sold his wife and children into slavery. Most of the slaves came from debt. No different today where the masses have debt and are slaves to the banks, that’s why they can’t handle recessions/depressions. I said in a previous article “I love recessions - people are grateful, I hate booms you have to que” (you won’t see many educators say that)
Farmers would only borrow for seed for next year’s crop after they had a previous failure. They were forced to go to the priests for a loan. The priest would lend the farmer say 10 talents, with the condition that he repays 11 (10%).
His land ,wife, children and himself were used as collateral (I guess the wife and children were worth more in those days ).The farmer couldn’t repay 11 talents as there were only 10 in circulation, he therefore defaulted and they would take his land, cattle and sold his wife and children into slavery. Most of the slaves came from debt. No different today where the masses have debt and are slaves to the banks, that’s why they can’t handle recessions/depressions. I said in a previous article “I love recessions - people are grateful, I hate booms you have to que” (you won’t see many educators say that)
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