Banking as a process, and our relationship to it.
Currencies have taken on many forms in history. From seashells, beads, stones, and
furs, to metal coins, gold, silver, to print. Now, present day, moving digital values
through time and space.
It is true that at some level there will always be the function of barter, but barter demands a very limited scope of trade. That is, both parties must have in their posses-
sion goods desired by each party and in a volume of agreed upon quantity. This hurdle alone excludes all but the simplest of exchanges.
The apple farmer trying to buy a truck would certainly be at an impasse, trying to find a seller who would want the volume of apples needed to trade for the truck.
Banks, or, at least, the act of banking has been around since the first currencies were
adopted and people wanted a safe place to store their money. In fact, the business of
banking is even older than that, with merchants in the ancient world some 2000BC making grain loans.
From home loans, car loans, education, business credit, the storage of money, “The act of Banking,” is a necessity to function in the modern world.
For the sake of time and to keep focus on the subject matter, by definition: we are not
talking about a bank in the conventional sense, the subject at hand is financing.
Experience is a hard teacher
because she gives the test first,
the lesson afterwards.
Vernon Law