Business and Economics today

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spgizzi

Village Elder
#1
This story gets me thinking....Monetary Systems :confused:

"One day a Talker comes to the only hotel in a debt ridden town in Kenya. He lays a 100 dollar note on the table & goes to inspect the rooms.

Hotel owner takes the note & rushes to pay his debt to the butcher. Butcher runs to pay the Pig Farmer. Pig Farmer runs to pay the Feed Supplier. Supplier(must be a Talker too) runs to pay the Prostitute she had dry fried on credit. Prostitute then runs to pay off her debt to the Hotel Owner for the rooms she rented for her clients.

Hotel Owner then lays the 100 dollar note back on the counter. The Talker comes down, takes his money & leaves as he did not like the rooms.

No one earned anything. But the town is now without debt & looks to the future with a lot of optimism.
And that is how the world is doing business today!"
 

Ingia

Village Elder
#11
Hao watu woote walikuwa financially solvent. They had a creditor of $100 and and a debtor of $100. And nothing changed for them. Again, only the hotel owner owes the original owner of the money because he didnt have a debtor. he can either find another note and return it to the customer, or he can compensate with hotel services. The money facilitates agreements, and does not in itself have any other utility. It is a piece of paper with a legal agreement written on it.
 
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