The Matrix of Money

By D.K.Burton

The history of debt

The idea of debt stems from the Babylonian economic system of more than 4000 years ago, around 2000 BC. Instead of coins, the Babylonians used clay tablets representing the promise to pay. Money was borrowed when it was needed to survive, as opposed to today’s tendency for people to borrow for “wants”. A need is not a mobile phone, MP3 Player or a Porsche-these are all “wants”. People borrow to show off to people they don’t know or like, plus what they borrow for always falls in value (the above); when combined with the cost of money, this means big losses!