Debt by David Graeber

Attempts to abolish the IMF; esp. how their austerity measures are enforced on nations.

Moneylenders created the cultural values of having to repay loans as part of their business.

Debt holders accept risk of default. If default risks are not present then there is nothing that makes them make good decisions.

Poor countries are often those which were invaded by Europe and have had their debts enforced upon them. Sometimes as punishment for successful revolutions (as in Haiti.)

The "vanquished," or, a defeated caste with no land or money forced to borrow coins to live and pay interest in menial labor.

Looking over world literature, it is almost impossible to find a single sympathetic representation of a moneylender—or anyway, a professional moneylender, which means by definition one who charges interest.

Debts can be measured and traded objectively which in turn requires money.

Iron was the metal of trade for Sparta.

Gift-economies work by giving an item the neighbor has expressed interest in. A credit/debit is then earned. Some amount of time in the future a gift is given (solicited or not) to balance the credit.

Gifts may be segregated in to an informal tier list to rectify what should be given in exchange for other things.

Shekels developed as a way to equate shipments of barley with silver coins.

There is no evidence that a society reverts to bartering; only those accustomed to cash and no longer have access to cash use it. They operate on gift, trade, theft economies until settling on some object as an intermediary of value. Value may exist only in ledgers until some later point where resources are provided to clear the outstanding debts.

Money is a physical token of a debt; a symbol to be materialized for a good at some future time.

"Stock Holder" comes from a method of recording debts on to sticks in England. The stick would be notched and broken in half with the creditor's half being called "the stock."

Original Bank of England comes from a contract of loaning King Henry 1.2million pounds in exchange for a monopoly on printing currencies.

Creation of an economy by paying "coins" to soldiers rather than food, imposing taxes on the population to be paid in coins, to force the society to feed the king's army.

French general Gallieni conquered Madagascar and sought to "teach the natives" how to engage in hard work by printing a currency and demanding a per-head tax from households. The currency could only be paid by selling harvest goods to government merchants at harvest seasons when prices were low. Possibly having to buy their own food back on credit if they over-sold.

Ships valued in oxen despite ox not being used for regular transactions. Since ox were used for temple sacrifices a price in oxen is, essentially, value of the highest order (as ships are also extremely expensive.)