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Author Topic: ING children's book about banks and made up money  (Read 774 times)
Sukrim
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June 14, 2013, 09:11:07 AM
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"Money quote" (Little Leo has painted his own money and wants to deposit it at a bank):
Quote
Mr Bank smiled, even though he didn’t have a mouth. “I’m afraid I can’t
accept that money, little Leo. Nobody will be able to pay with money you’ve
created yourself.”

http://www.ing-nextgenerationbanking.com/book/

The "history of money" section implies somethow that there is still a gold standard...
Also interesting is that the answers about what a bank does are very biased towards a modern western standpoint (=charging interest on credits) + handing our credit money, not speculation. If you published this book in some former times, you might get into quite some trouble, as interest equals usury... Roll Eyes

Lastly people in poor countries are apparently poor because they don't know how to earn money, and they are so stupid that they need 9 year old kids from places where people know how to earn money to help them.

I'm not too sure if this relates 100% to Bitcoin, as it talks about made-up money and some theories behind I thought it might be interesting and also might help some discussions about Bitcoins. For example, how would they fit into the book's description of "money"?

https://www.coinlend.org <-- automated lending at various exchanges.
https://www.bitfinex.com <-- Trade BTC for other currencies and vice versa.
Mail me at Bitmessage: BM-BbiHiVv5qh858ULsyRDtpRrG9WjXN3xf
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June 14, 2013, 09:30:39 AM
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Also interesting is that the answers about what a bank does are very biased towards a modern western standpoint (=charging interest on credits) + handing our credit money, not speculation.

What's the difference  Huh

Either way, banking today doesn't work like that anymore, as money is created by handing out credit.

If you published this book in some former times, you might get into quite some trouble, as interest equals usury... Roll Eyes

Even Islamic Banking allows mediating loans and savings with fees (aka "interest"). Maybe a more modern circumscription of the term "usury" would be socialism for the rich, i.e. the rich lobby that they don't have to carry the appropriate risk for their investments, i.e. they can privatize profits but socialize losses.

I'm not too sure if this relates 100% to Bitcoin, as it talks about made-up money and some theories behind I thought it might be interesting and also might help some discussions about Bitcoins. For example, how would they fit into the book's description of "money"?

It would fit well, as you said:

The "history of money" section implies somethow that there is still a gold standard...

...a property which Bitcoin emulates.

https://localbitcoins.com/?ch=80k | BTC: 1LJvmd1iLi199eY7EVKtNQRW3LqZi8ZmmB
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