Joseph's "Just My Thoughts"

The exclusive power of the state to print money, rather than that of private individuals, creates a situation where we all must operate within a limited amount of currency. This limitation implies that because wealth is quantified and acquired through money, whenever one person gains money, another must lose an equivalent amount. It’s similar to the fact that when I settle my bank loan, another person has to go bankrupt. The opposite holds true as well. - Joseph’s “just my thoughts”

What happens if you have significant debt but also have the ability to issue money? In this case, the debt may become irrelevant. While the government can issue currency, the private sector lacks this capability. So, how does the private sector create money? There are limited methods, including adding value through production, establishing reasons for exchange that involve considerations, or receiving a gift, such as an inheritance. All other methods are illegal. - Joseph’s “just my thoughts”

I previously presented the stone currency "Fei" used on the island of Yap in Micronesia, the western Pacific island nation. The "Fei" currency was a round circle, sometimes over 3 meters in diameter and weighing 3.5 tons. The island of Yap had no roads. People went in and out barefoot. Several people carried this money by placing wooden sticks in the center hole of the circle. The island used to belong to Germany when Germany bought the Caroline Islands from Spain. The German government ordered the village chief to repair the path. But the village chief refused the order. A fine had to be imposed, and the heavy stone money could not be confiscated. After much agonizing, the German government marked the stone money with a cross in black paint. In other words, they confiscated the property. Surprisingly, the village head repaired the path and the German government removed the cross. The seizure was lifted. Economic value is personalized through ownership. The key to o...

There is a country of 607 islands in the West Pacific, Micronesia. One of the islands, “Yap Islands,” used limestone as a currency. The monetary unit is “fei”. Big stones, oh no, big money, 3.6 meters in diameter and weighed 3.5 tons. The bigger and heavier is a more expensive price, because of the harder the carving. The peculiar thing was that when the people moved the stone for trading, they directly moved it with a canoe, and no one marked the money after the transaction. In the meantime, a rich man had to deal with someone and he met the storm while carrying the stone money in a canoe. Securing his survival, he had to throw his money out of the canoe into the water. When he met the counterparty with an empty hand, no sooner did they confirm the force majeure case than the counterparty confirmed that the villagers additionally recognized the value of the sunk money in the water and approved the transaction. Then, the existence of the sunk stone money was recorded on a wooden board,...

If you've kept your word in every situation, borrowing from your neighbors may be more possible when you borrow money from others. That is, your financial trouble doesn't mean that you don't have any money, but it means that you don't have any credit from anyone. Currency has some value according to all people are constantly giving trust in exchangeable value, and money itself doesn't have any value at all. All values come from giving trust to something. Gaining credibility only, even pebbles on the street can be money. - Joseph’s “just my thoughts”