INTS 210 Money

INTS 210 Money - Gold OneCard-debt, credit, local Money...

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INTS 210 Money 13:32 Security: something that is traded on a financial market, bought and sold Contract: not bought and sold Option-it has a price Default: if you completely stop paying debt Derivative: a security that is traded on the financial market, it is based off another  security What is money? Measure unit of account Agreement on value Traded-exchange No inherent value  Fiat money Paper Small enough to carry around 
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Unformatted text preview: Gold OneCard-debt, credit, local Money commensurate between banks Liquidity Commodity money Money backed with gold Before this there was bartering David Graeber thinks that this is a myth He believes in a barter, but not a barter economy He claims there is no proof Our idea of value comes from debt Private bank can lend out 9 times what they have in deposists 13:32 13:32...
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This note was uploaded on 02/28/2012 for the course INTS 210 taught by Professor Weiler during the Fall '07 term at UNC.

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INTS 210 Money - Gold OneCard-debt, credit, local Money...

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