The Invention of Money- Dan Primavera

When I use my debit card where is the money coming from? I know I worked hard at my job and earned the pay I was “given”, but I never physically had the money earned in my hands. My paychecks go directly into my debit account making things easier for me to not have to go down to the bank and either cash the check or deposit it myself. But, after reading/listening about the Yap and reading about the Brazilian inflation crisis they made me really think about what the true , I question the intrinsic value of my hard earned money.

The Yap used the beautiful stones as a form of money and really believed in their value as a “national currency”. Their belief in these stones to be valued as a form of currency was so strongly that they were even able to trust in trusted a man’s wealth even after his whose huge stone feicurrency was laying at the bottom of the ocean miles off their coastline. This made me think about how we as Americans, and most of the modern world for that matter, believe in almost fake currency as well. We can use a A little plastic card that represents our wealth when in reality we are not in possession of the actual thing that our wealth is based on (gold), which is very similar to how the Yap believed in that mans wealth although he was not actually in possession of the stone. Also with the case of The Brazilian change of currency to the real, it made me realize think about how really, at any time, our government could do the same thing. Although I do not think that would happen in our society, it is weird to think about because the reals, like dollars,  are basically just a made up form of currency that the citizens now trust and believe in because they were told to.

Both of these stories, the Yaps’ belief in stone money and the Brazilian currency change, really made me rethink about how We value our money and use it so freely when we really don’t have what is of the real value (gold). Maybe if we owned were in control of our own wealth, as in owning and possessing our wealth’s value in gold, we would spend more carefully.  about how we spend our money because we could literally see our wealth decreasing instead of seeing numbers change on a computer or not having a few more pieces of paper (cash). This topic was at first very unclear to me and confusing but now that I have really looked more into the way we believe in money and the way even I look at money and how it is not actually a true showing of our wealth, my thoughts on our money system has changed. But, even with this change of thought about our values in our money, who of us would actually care enough to not continue to pursue this unrealistic wealth?

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8 Responses to The Invention of Money- Dan Primavera

  1. davidbdale says:

    Hey, Dan. Thank your for the early post. It will give us a chance to interact here before the deadline, if that’s useful to you. I presume you’re open to feedback since you could easily have delayed posting until tomorrow.

    First of all, I should have told you earlier, the US and all major economies abandoned the gold standard long ago (1930 or so for the US), so nobody even pretends we have enough gold to back all our dollars today. It has long been understood that nothing but the size and strength of the US economy and “the full faith and credit of the US government” gives our money its value. If you search that quote you’ll see I’m using specific technical language.

    Now, a brief anecdote. When I was a writing student, a sarcastic and much smarter writer than me once offered to edit something I had written “with a bottle of Clorox over a long weekend.” I was stunned because I thought my words were precious and necessary, but he was right, and I’m glad now I didn’t hit him with a paper shredder. Many years later I still try to trim every needless word.

    With that explanation, I have done something audacious to your post. The original text is still there in the code, but I’ve bleached the needless words white. You can change them back whenever you wish, or use what’s left as the framework for a better draft. Or you can hit me with a paper shredder. Your call. Let me know either way.

    • primav01 says:

      Hey Professor, Thank you for the suggestions and I am not going for the paper shredder one… But as for the backing of the US dollar in gold part, I completely forgot you said that so I will have to make some revisions along with yours.

      Thanks, -Dan

      On Mon, Jan 28, 2013 at 4:29 PM, Dubitability

  2. Dan Primavera says:

    Still working on a rewrite for this essay but I am unsure as to if you would mind me including some of the parts that you had annexed from my original essay.

    -Dan

  3. primav01 says:

    The new outlining instructions were extremely helpful in my re-write for this essay. thanks so much for them.

    • davidbdale says:

      Happy to help, Dan. And listen, I’m starting to really appreciate your contributions in class. Your classmates seem to be walking through the class periods, so any sign of life is most welcome. You always seem to be willing to contribute, for which I’m very grateful.

  4. primav01 says:

    More than happy to! I feel like I’m getting something out of the discussions if I actually have something to input.

  5. davidbdale says:

    You never posted a Money Rewrite, Dan. You need to. You’ll carry a zero for the assignment until you do.

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