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The four functions of money are:
1) store of value
2) unit of account
3) medium of exchange
4) standard of deferred payment
For me, money is most important as a medium of exchange to acquire goods and services to satisfy my needs, whims, and desires.
Whether it is legal tender or lawful money, I only desire to exchange for things of value.
In 1982 Congress changed the name from United States Notes to United States currency notes.
Look at the Notes.
Quote:
In the section, the words “United States currency notes” are substituted for “United States notes” for clarity and consistency in the revised title.
The primary points I was seeking to make is that most people are only concerned about:
a) acceptability
b) usage
... with regard to money. Not so much its purchasing power, inflation, or many other of its particulars.
Thank you. I agree.
I am enrolled in Financial Peace University by Dave RAMSEY. Christian churches facilitate his seminar program. There are maybe ten people in my class.
In Lesson One somebody remarked about how his debit card is treated just like a credit card. I chimed in with my commentary about how I just memorize the numbers and sign by telling the cashier the Security Code. Get it?
I do not owe any Information (Information indicts into the false balances system of elastic currency) because the surety bond was already covered by the two signatures on the bills I presented when I purchased the Debit Card. I do not owe any information because I am not asking anybody to trust me - the cashier has to punch in the numbers I give - or I do it myself, the machine is right there with the keypad. The funds are ready and I sign by knowing the security code. I am not asking for Credit (trust) so I do not provide Information. If I was trying to get somebody to trust me, then it makes good sense that I owe them some information first.
I only took a moment but said that clearly.
There was a moment of silence and we moved on. I think they all understood the plain English I was using, and they were interested. They just had no reference in their personal history of intellectual development to form a reply to my contribution. As the weeks roll along in the course though, I believe that I can develop that because Dave is insistent that people pay off their credit cards and destroy them. He wants the pupils to go to Debit Cards. There is a reason for that. People indict themselves in the Fed system though - even with debit cards by signing and providing all the information like they were applying for or transacting credit still.
Regards,
David Merrill.
...... Exactly .....Quote:
Originally Posted by shikamaru
Don't scare'em, D :DQuote:
Originally Posted by David Merrill