6139008-History-of-Money

Jubilee are MEME's placed in the Tests or Bible to facilitate..... http://raenergy.igc.org/globalpalistine.html Theredistribution of TIME becomes the universal currency for the children of the universe who like the trees and the starshave a right to be here. http://raenergy.igc.org/universalcurrency.html .The paradigm shift is from spirituality to how tobuild-retrofit cities.... http://raenergy.igc.org/index2.htmlBabylon (Nimrodian)/Sumeria 3,000 Years Ago: City of GoldSome may have read about Nimrod’s (son of Cush) immense wealth and Prophet Abraham’s encounters with Nimrod(Namrood) in the Bible and the Qur’aan. The concept of money and credit creation was developed in ancient Babylon.Before there was money, there was credit. Credit preceded the coining of money. Historical documents dating back tothe Sumerian civilization, circa 3000 B.C., reveal that the ancient World had developed a formalized system of creditbased on two major commodities, grain and silver. Before there were coins, metal loans were based on weight.Archaeologists have uncovered pieces of metal that were used in trade in Troy, Minoan and Mycenaean civilizations,Babylonia, Assyria, Egypt and Persia. Before money loans came into existence loans of grain and silver served to facilitatetrade. Silver was used in town economies, while grain was used in the country. For nearly 2,500 years throughoutSumerian and Babylonian history, the rate of interest on grain and silver loans remained constant. The customary rate ofinterest on a barley loan was 33 1/3% and for a loan of silver it was 20%. Although interest rates would occasionally vary,the legal maxima embodied in the Code of Hammurabi, established 33 1/3% per annum on loans of grain and 20% onloans of silver. These rates lasted for more than 2,500 years.SUMMARY OF MESOPOTAMIAN INTEREST RATES 3000 - 400 B.C.Dates B.C.Normal Rates % Legal Maxima %On grain On silver On grain On silverSumer3000-1900 33 1/3 20 - 25Babylonia1900-732 20 - 33 1/3 10 - 25 33 1/3 20732-625 20 - 33 1/3 10 - 20 33 1/3 20625-539 ? - 20 10 - 20 20 20Fifth-fourth centuries 40 (?)AssyriaNinth-seventh centuries 30 - 50 20 - 40PersiaSixth century 40 40Homer, Sidney & Sylla, Richard, A History of Interest Rates 3rd Ed. Revised, Rutgers University Press, New Brunswick,1996, p31; Jim Puplava www.financialsense.comOnce relative values were placed on commodities (like cattle, grains or craft), silver and gold became established as astore of values and a convenient means of exchange. In order to guarantee the safety of the wealth and treasure of hisBabylonian citizens, Nimrod, the priest-king, offered the temple vaults and protection of the gods as security. Observingthat the bulk of deposits remained in the vaults at any one time, he developed the lucrative concept of Fractional ReserveBanking. This device was the key to unparalleled prosperity and unbounded influence. Nimrod explained and franchisedhis scheme to certain illuminated Adepts, (today’s bankers) who were licensed to take deposits and lend gold from thetemple vaults at around 20% interest. Nimrod's next innovation (in addition to Masonry) was to issue clay tablet receiptsin the value of the gold, and sealed with the high priest's signet as legal tender - precursor of today's paper money. Saferand easier to carry than bullion, it quickly gained acceptance and still has ancient Babylon’s mark upon it.Money was used by the ancient Babylonians (modern day Iraq). With the implementation of hard money and buddingtrade and commerce, Babylon became the center of World power and wealth – a city of gold. It’s interesting that whileBabylon attained prominence with a stable currency, it attained grandeur after it began to debase its money. KingNebuchadnezzar devised a scheme where he leveraged the kingdom’s gold to create much greater wealth. He issued IOUs– loaning out at interest the great wealth from Babylon’s treasury. The monetary stimulation doubled and then tripled theempire’s wealth, producing the World’s first economic boom. But as the debt swelled, so did the claims on Babylon’swealth. Foreign claims from imports rose as well as domestic claims, exceeding the treasury’s gold. Still the IOUscirculated. After a time, the swollen volume of debt caused people to demand more currency for their goods and labor.Inflation was in full swing. Even as it took more money to buy the same goods, Babylon seemed to be economicallystable. The treasury had lots of silver, and adroitly King Merodach-baladan extracted himself from the situation bydeclaring the value of silver equal to gold. For a period, Babylon advanced on a currency of silver equivalent to gold. Butan uneasy feeling that this situation was not quite right caused people to demand silver faster than they had demandedgold. Soon there was no silver in the currency. So copper was proclaimed to have value equal to silver. This didn’t workbecause copper was in far greater supply than silver. Money began losing its value, and confidence began to fall.Babylon’s wealth had been the foundation for its society. The economic crisis led to a civil war which further debased thecurrency since war is unproductive unless it leads to the capture of more wealth which can then be used to uphold thevalue of the currency. The empire drowned beneath a tidal wave of debt.The Hidden History Of Money & New World Order Usury Secrets Revealed at last! Page 208