A couple weeks ago my newly married maid came asking me for a loan to pay the rental deposit on her flat. I knew she had saved up much more than the amount she needed so I asked her what she had done with the money. She told me she had bought gold jewellery with it.
With all of it? I asked her. Why did you do that when you knew full well you had this expense coming up?
I had to she said, without gold they won’t let you get married.
Who is ‘they’? I inquired.
Everyone, she told me. All my relatives in my village
At the time I told her she was foolish. Now I’m not so sure.
Back in the old days money used to be linked to something of physical utility – typically gold. For every note issued, the government … Read More »
Yesterday my mother called me to say that she is taking my six year old son to see a coin collector since he has been pestering her with questions about money. Motivated by his interest in buying yet another Ben 10 toy that I won’t get for him (jet ray, shake ray, I don’t get it…), he has become a little obsessed with finding ways to get money. Who invented it? Can he invent his own money, he wants to know. Would people take his invented money? Who makes the money? Can’t he just print some out on our printer? Who decides what its worth?
So back to the coin collector. My first reaction was that it seems a little silly and boring. What’s he going to show him, some bunch of coins from around the world? So what? But … Read More »