They were not "worthless" on their own they were a record of perceived value. Making them quite valuable. Without the tally stick one wouldn't be able to prove that they had or done anything perceived to be of value. There was strict record keeping to ensure that everything was right. One couldn't simply make up their own tally stick to use for trade without it requiring validation. The tally stick was tied to something of perceived value. This is the issue with things like Quantitative Easing, I think it is. Also, Fractional Reserve Lending. Each tally represented something such as a bag of rice or whatever of lumber, but a record was kept of each transaction. The tally stick was a simplification of that not requiring excess information. Each item going out was assigned a tally and items coming in would be assigned tally/ies. They were not in the business of tallying things they didn't have because their was STRICT OVERSIGHT!!!! They would off a bitch so fast, so help me God!
USD is not like the tally stick. IT USED TO BE!!!!!!!! It was the tally when you could exchange the dollar for something that ANYONE would accept, gold which was assigned value by weight. Everyone has to agree, though or we might as well just barter again. Look at the whole crypto thing happening right now, holy balls! Only because someone decided to hoard the resources through situations like the Central Bank are we in this damn mess now.
Forgive my figurative language, that was rather graphic.
I would really care for an explanation, out of many, one. How it couldn't be tied to Gold? Do you understand what I feel to be the meaning? The foundation for separate but equal states, states rights? The reason the we should detest Federalization in our very blood? A Republic?
They were not "worthless" on their own they were a record of perceived value. Making them quite valuable. Without the tally stick one wouldn't be able to prove that they had done anything perceived to be of value. There was strict record keeping to ensure that everything was right. One couldn't simply make up their own tally stick to use for trade without it requiring validation. The tally stick was tied to something of perceived value. This is the issue with things like Quantitative Easing, I think it is. Also, Fractional Reserve Lending. Each tally represented something such as a bag of rice or whatever of lumber, but a record was kept of each transaction. The tally stick was a simplification of that not requiring excess information. Each item going out was assigned a tally and items coming in would be assigned tally/ies. They were not in the business of tallying things they didn't have because their was STRICT OVERSIGHT!!!! They would off a bitch so fast, so help me God!
USD is not like the tally stick. IT USED TO BE!!!!!!!! It was the tally when you could exchange the dollar for something that ANYONE would accept, gold which was assigned value by weight. Everyone has to agree, though or we might as well just barter again. Look at the whole crypto thing happening right now, holy balls! Only because someone decided to hoard the resources through situations like the Central Bank are we in this damn mess now.
Forgive my figurative language, that was rather graphic.
I would really care for an explanation, out of many, one. How it couldn't be tied to Gold? Do you understand what I feel to be the meaning? The foundation for separate but equal states, states rights? The reason the we should detest Federalization in our very blood? A Republic?