I think you are confusing wealth and money. Cattle were apparently the Maasai's only significant store of wealth. We tend to use wealthy interchangeably with having lots of money, but they are not actually the same thing.

MeisterEckhart wrote on Mar 9^th, 2024 at 8:14am:


Can you explain why you think they were a generally accepted medium of exchange if you could not actually exchange them for anything?

freediver wrote on Mar 9^th, 2024 at 9:01am:

The Maasai used cows to purchase wives, land, grain/food, in intertribal exchanges for access to land/water, for intertribal alliances, penalty payments for transgressions, as awards for individual excellence - e.g. warriors, as payment for long-term labour, as prizes in competitions and wagers.

Can rum be money?

Frank wrote on Mar 9^th, 2024 at 7:16pm:

Mania, eh!

Like your bitch fagging across this forum every day.

Pussy is a valuable commodity - the Japanese call it The Golden Gully - you pay for it one way or the other... and it is a terrific weapon of man's destruction in the Gender Wars.... look at the idiot's gallery in Cambra who start panting and drooling when some sheila hands them the list of the latest demands....

"... either your signature is on the paper or your chance for pussy ain't worth the paper it's written on ..... and that's the family ... stop crying.. bend over and take it like a man..... Penny!! Strap-on!! ...... and we want that wage gap to be more in our favour than it is now - say seventy percent instead of seven ... it's only fair, right?  Now let's get you pegged.... oh, yeah - we've already got 'at least 50% of winnable parliamentary seats', meaning men can never hold more than 50% but women can hold 100% ... but that doesn't go far enough....we want it all now, so sign ...."

freediver wrote on Mar 8^th, 2024 at 2:36pm:


Again, re "the nature of money", your 'shared belief'  is not based in reality

You asserted the value of a fiat currency depends on a 'shared belief' in its value as a medium of exchange.

I showed that is incorrect; eg, hyper-inflation in failing economies annuls the 'shared belief' the citizens previously had in their currency.

Whereas in productive nations like the US and China, a 'shared belief' in the  currency's value - while seeming to be justified - is actually irrelevent to the currency' value, so long as those nation's can maintain their productivity.

(Government "debt" is actually the private sector's assets, study MMT.  eg, a US "debt" of $100 trillion  mostly owed to its own citizens - need not  negatively  affect the nation's productivity, so long as the debt is denominated in US dollars, which the US government can create out of thin air, just as private banks do when they write loans for credit-worthy customers).

"Foundations".....   depend on whether your "shared  beliefs" are based on reality or not.

A 'shared belief' that Palestine belongs to Jews is not reality, it's OT mythology.

Hence the need for international law to adjudicate between  'shared beliefs' ....if you want to "save mankind from the scourge of war" (UN Chater) .

You are like Hamas: 'my way or the high way';  you are doubly complicit in the current slaughter in Gaza because Hamas is a reaction to Israel's creation on Muslim Palestine lands; both you and Hamas need to support UN res 242, the 2-state solution under international law, with security guaranteed by the UNSC.

(Personally, I'm with the Jews who objected to Israel's recreation; but more than that,  I believe in international law to end endless wars. 

Note: on the ABC tonight:   

On '4 Corners' tonight (8.30pm): an examination of the "endless war" in Palestine, and the role of the extreme Israeli RW.

Followed by Q&A  (9.30pm): with panel member  Stephanie Kelton debunking the 'magic money tree' assertion of  conservative economists; sustainable resource mobilization, not deficits per se, is the necessity for a productive economy.      

Quote:


No you didn't. You misunderstood what I said and disproved your own BS. You thought I was talking about exchange rates.