Join me @ IBOtoolbox for free.
Member Since: 3/22/2013
performance / stats
Country: India
Likes Received: 2722
Featured Member: 15 times
Associates: 1819
Wall Posts: 5594
Comments Made: 8880
Press Releases: 1786
Videos: 2
profile visitor stats
TODAY: 164
TOTAL: 1137144
are we ibo associates?
member advertising
active associates
Diane Jean    
Last logged on: 5/26/2019

Pavel Mrlian    
Last logged on: 5/26/2019

Camille Cameron    
Last logged on: 5/26/2019

Bob Crawford    
Last logged on: 5/26/2019

Micky Gramlin      
Last logged on: 5/26/2019

victor chukwuemeka    
Last logged on: 5/26/2019

Dorothy Allen    
Last logged on: 5/26/2019

Patricia Reynolds    
Last logged on: 5/26/2019

Sandy Hall    
Last logged on: 5/26/2019

Ioan Santos    
Last logged on: 5/26/2019

Athena Gay    
Last logged on: 5/26/2019

Jordan Angelovski    
Last logged on: 5/26/2019

Jack Dawson     
Last logged on: 5/26/2019

Tony Mallins    
Last logged on: 5/26/2019

Italia or Elze       
Last logged on: 5/26/2019

other ibo platforms

D G   My Press Releases

What is Money Really?

Published on 12/7/2016
For additional information  Click Here

Have you ever wondered what money really was? What is behind its mystique? Well, it is not gold coins. It is not a basket of fish, or a truck load of bread.

Money is an idea. It is an idea backed by confidence. Nothing more. Once we had to have gold as the standard of that confidence, but now there is enough confidence in the production of products that money was backed by the production of the country and land instead.

So what else is money?

Money can be considered a negotiable receipt for deposited goods. How it once worked was that a goldsmith would accept somebody's gold and give that person a receipt in exchange, which in turn became money. But then, one day, realising the goldsmith's repute was good with these receipts and that they had become negotiable, he loaned a receipt based on the gold someone else, as had deposited. Then the goldsmith loaned out several receipts on the same gold. And that is how banking started.

Today a bank will loan out against almost anything that can be produced. The only real trouble comes when too many people want to cash in their receipts to get the gold or goods that have been deposited. If there is too much money loaned out and confidence downturns, then a run can start with the bank unable to honour the receipts, causing bankruptcy.

Banks vary as to how many times they will loan out against what is deposited with them. Some are ten times and some are as much as 70 or more. Even a thousand is not heard of. The higher the amount loaned out compared to what is deposited the greater the risk of economic collapse. And that is what the current threatened financial collapse is about.

But for money to work, and confidence to remain steady, there needs to be a simple recognition of exchange between giving and taking. Exchange builds confidence. When the world produces real products, then financial confidence goes high. But often then banks will issue more recipients per deposited goods and that starts inflation.

As people go into 'dealing' in commodities and other things, buying and selling without adding real value to what is sold, then the so called production aspect diminishes and financial confidence begins to wane.

With the exchange factor, there is what we refer to in Scientology as 'exchange in abundance'. So, instead of giving - as an example - a day's labour for a committed return, a person could give an abundance for that same return.

I have worked where I worked extra hard, I was extra courteous, and gave extra care. In return I was paid extra fast, got an extra tip with an extra meal and an extra smile. Try out exchange in abundance.

That is all money is. I hope this takes out some of its mystique.

Nick Broadhurst is the Executive Director of the Church of Scientology of Canberra. He has been in Scientology for 20 years and has read over 20,000 pages, and listened to over 300 taped lectures on the subject. That Is Banking, Financial Success Course

Related Articles>>>

Article Source:

Member Note: To comment on this PR, simply click reply on the owners main post below.
-  Copyright 2016 IBOsocial  -            Part of the IBOtoolbox family of sites.