For a very long time, everything that was considered the property of a person was considered money. It could be any valuable things:

– food;

– clothes;

– jewelry;

– beautiful feathers;

– seashells;

– cocoa grains;

– various buildings.

Precious metal bullions were also considered money. The metal was soft so it could be easily processed using the finer points of its processing. Jewelers casting coins according to special designs. Thanks to this, the coins had a certain weight. Jewelers kept their coins in special rooms. Very quickly, many residents of the city learned about such premises. They began to rent safes from the jeweler and stored their gold in them, paying a certain rent. Thus, the jeweler began to receive another type of income. This has become another part of his business.golg coin

After some time, the jeweler began to notice that tenants of safes did not take their coins all at once. The reason for this was receipts that depositors voluntarily signed for the duration of the rental of safes. They were called debt receipts. They began to use them as money, like gold, they paid for the purchased goods. Using these pieces of paper was much more convenient than carrying heavy coins. It was not necessary to count anything, it was enough to write down the amount of the transaction.

The jeweler continued to grow his business. He began to give out loans with his gold with interest, but he did not give precious metal, only debt receipts. And, despite this, borrowers nevertheless began to take these receipts instead of real gold.

Civilization developed and more and more people began to take such a loan from a jeweler. This prompted the jeweler to a new adventure. He realized that if a depositor invests his gold, then getting someone else’s back, he will not even know about it. Since almost none of the tenants of the safes demanded the return of their gold, the jeweler began to issue a loan on bail, using all the gold that he had at that time.

For a long time, the jeweler had a good income on such frauds. During this time he became very famous and rich, he even boasted of it. The city was filled with rumors that the jeweler was using the money of depositors. They began to demand the return of their own gold, if the jeweler-usurer did not explain the origin of his considerable wealth.

Such an unpleasant story almost ruined the jeweler. But the two-faced scheme of the jeweler worked this time too. Gold continued to be stored in the safe of the jeweler, the tenants did not incur any losses and, seeing this, they began to demand from the jeweler that he pay them part of the money earned on this, as interest. The jeweler agreed. So the birth of banks happened, and the jeweler became a banker.

The banker began to pay scanty interest to depositors. But loans were issued at much higher interest rates. This difference more than covered all the bank’s expenses and brought him considerable income.

The essence of this strategy is very simple. It was a profitable way to give loans to everyone. So it was before.

Currently, banks use a completely different scheme.

After the colonization by Europeans of other countries, the demand for loans has grown significantly and continued to grow. However, the possibility of issuing a loan was limited by a lack of gold in bankers’ safes.

Our jeweler – the banker thought that he receives a small income on the percentage of investors. And one daring thought came to him. Taking advantage of the fact that no one but the banker could know how much gold was in his safes, he began to issue debt certificates to non-existent gold to each depositor. After all, no one will know about it, because depositors will not be able to come to the bank all at the same time. The invented scheme was successfully introduced into the business and the jeweler-banker again began to grow fabulously rich, taking interest from gold coins that did not exist at all.

The fact that the jeweler makes money on non-existent money was such a bold scam that no one even thought that they were being deceived. But the number of loans issued by the banker was so large that it aroused suspicion. Investors again demanded natural gold instead of paper receipts. Some wealthy depositors began to demand the return of precisely the gold invested in the bank, and not pieces of paper replacing it. The others joined them and soon a huge crowd of indignant people formed in the square in front of the bank.

How to make money or a fairy tale about a jeweler

And then the banker was forced to give out real property to investors. There came a time when gold and silver were all issued. But there remained debt certificates issued to him, on which he must also pay. The moment of bankruptcy has come. This is what the banker was most afraid of.

Many bankers then went bankrupt and many people lost confidence in the banking system. Honestly, it was necessary to impose a ban on the issuance of non-existent money on credit, but such loans were important for commercial activities. Therefore, the practice of making money out of nothing was legalized by limiting the amount of non-existent funds issued on credit. But still, there were much more of them than the gold and silver money that lay in the vaults.

Now the ratio of nonexistent money to one existing gold was 9: 1. This is clearly monitored by the inspection. Also in extreme cases, the central bank was obliged to support all banks by injecting real gold. This has become a guarantee of support for the banking system. And only when all banks simultaneously use up their reserves, the system will burst like a soap bubble.

I can confidently say that money is the largest pyramid of debts. Give me the opportunity to issue and control money in the state and I do not care about who writes its laws.

Mayer Anselm Rothschild banker

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