Daughter (11)asks: Where does people's money come from?

[laolover88]

Realities of life dawning on daughter. Interesting q. Here awash with money in the New Year with another spate of red

numberplates.

I wondered what % of population of this Issan town are ลูกจ้างรัฐบาล ie.government employees. If where we live anything to

go by I would say at least 60 to 70% work in Government Offices, Health Care, Utility companies,Teachers etc . Family

next door: wife works in hospital. Husband "sells things" Have newish Isuzu mu7 and new Mazda3...House probably worth

1 million B

The rest are, I suppose, entrepreneurs: shops., restaurants, beauty parlours, noodle stalls, garages, scraping? by?

No bars, massage parlours or karaoke here. Can't all be drugs from Laos/Burma can it?

In this road where we live 12 houses 10 ลูกจ้างรัฐบาล government employees and the other 1 Vietnamese anyway. What do you

reckon where you are?

[arthurwait]

Chonburi City of about 300,000 people that has grown from a fishing village of a couple of hundred people.

Where's the money come from ? Chinese immigrants and their families working and building a city. The biggest industrial estates in the country with foreign and Thai companies coming here for their work ethic here and distance to the ports and Bangkok.

[willyumiii]

Don't know of any government employees in my village.

Most are farmers or factory workers.

Yet, there are many new trucks, cars, tractors and houses here.

It's all done on credit, something a lot of Thais don't really understand yet.

I've been told the whole concept of credit and mortgages is a new one for many.

Fail to make your payments and you lose it.

The future may be interesting.

How do you say" foreclosure" and "repossession" in the Thai language?

[brain150]

Money is created by privately owned banks out of thin air !

Then loaned out to Governments, Corporations and private households.

It is all dept ! .... actually it is not "money" at all but a FIAT currency ![ Something VERY different]

The ignorance of the people gives it is "value" which in reality does not exist.

Go to any home page of any central bank and they will happily tell you about it.

I doubt though that anybody will go ahead and try to read it .... it's more easy to simply call it nuts and ignore it :-)

[connda]

Where does money come from? The US Federal Reserve

[Sayonarax]

Money is created by privately owned banks out of thin air !

Then loaned out to Governments, Corporations and private households.

It is all dept ! .... actually it is not "money" at all but a FIAT currency ![ Something VERY different]

The ignorance of the people gives it is "value" which in reality does not exist.

Go to any home page of any central bank and they will happily tell you about it.

I doubt though that anybody will go ahead and try to read it .... it's more easy to simply call it nuts and ignore it :-)

Let the debt slaves drown. We keep telling them, but they rather ignore it and call us funny names.

Ive won countless bets asking Americans how Federal the Reserve is.. haha ignorance to the sheep!

[thailandbeachisland]

Soon she will ask where has people money gone, as well as their truck and house...

[loong]

I don't believe that you live in an Isaan town, more likely you live in a "village", which is an estate of houses. Prices are way more that the average Isaan villager could afford. You are only drawing experience for the higher earners.

[Gsxrnz]

Where does money come from? The US Federal Reserve

But tell us, who owns the US Federal Reserve?

[White Tiger]

OP - How did you answer your daughter's question?

When I asked the question as a youngster I remember being told that it doesn't grow on trees, but I can't remember ever being told where it came from. The bit that stuck in my mind was the 'it doesn't grow on trees' - probably because my parents would always tell me that to try to dissuade me from asking for money to spend on stuff. I'm sure others, as youngsters, have probably been told the same thing by their parents too.

[Ulic]

My money comes from an ATM.

[Mudcrab]

Money (historically) came as a promise to pay for something you have done. i.e. it comes from work and nothing else. As for all of the rest, the bankers, the financial wheelers and dealers,currency speculators, car salesmen, realtors, most business people and, yes, the Government administrators - well theyactually produce nothing and are just leeches on the productive peoples backs.

[MILT]

Money is created by privately owned banks out of thin air !

Then loaned out to Governments, Corporations and private households.

It is all dept ! .... actually it is not "money" at all but a FIAT currency ![ Something VERY different]

The ignorance of the people gives it is "value" which in reality does not exist.

Go to any home page of any central bank and they will happily tell you about it.

I doubt though that anybody will go ahead and try to read it .... it's more easy to simply call it nuts and ignore it :-)

Brain150 is factually right! Question is will a 11 yr. old person understand the reality of the world economy as it has evolved to this point.

Edited January 3, 2014 by MILT

[CapeCobra]

Where does money come from? The US Federal Reserve

But tell us, who owns the US Federal Reserve?

Interesting question. The Fed is so powerful that Government, Congress, or House of Representatives are not even allowed to check their books. Kennedy was the last president trying to disempower the Fed. Executive order 11110 dated june 4, 1963, allowed the US Gov to print their own silver backed money, instead of paying interest for Fed Reserve Notes. In 1963 we had 2 versions, United States Notes an Fed Res Notes. Nov 23,Kennedy was shot. Lyndon B Johnsons first action was to suspend executive order 11110. No president ever tried again to fight the monster or the mother of all financial monsters, the offshore island called City of London.

[Kangawallafox]

Western union for many.

[Gsxrnz]

Where does money come from? The US Federal Reserve

But tell us, who owns the US Federal Reserve?

Interesting question. The Fed is so powerful that Government, Congress, or House of Representatives are not even allowed to check their books. Kennedy was the last president trying to disempower the Fed. Executive order 11110 dated june 4, 1963, allowed the US Gov to print their own silver backed money, instead of paying interest for Fed Reserve Notes. In 1963 we had 2 versions, United States Notes an Fed Res Notes. Nov 23,Kennedy was shot. Lyndon B Johnsons first action was to suspend executive order 11110. No president ever tried again to fight the monster or the mother of all financial monsters, the offshore island called City of London.

Yes, interesting isn't it. The Rothschild family (the creators and manipulators of the worlds banks for nearly two centuries) don't have a reported 500 trillion USD (conservative) in their coffers for nothing do they.

And somewhat interesting that JFK was assassinated a week after he signed the executive order that would have stripped the US Fed of their right to print money, lend it to the populace via retail banks and charge interest for the "privilege" of creating a totally valueless commodity. The irony being that the more they print, the more interest the Fed gets back and the more they can influence world events and markets.

The Rothschild's are reported to have financed Napoleon and the British which is the event that really began to make them dominate the banking world, and more latterly, the Allies and the Nazi's - kind of a win/win situation. They actually invented the worlds banking system as we know it today.

Hence the phrase "licence to print money".

The worlds money supply is predominantly controlled by one family. Each and every one of us is simply an asset as far as they are concerned, the more we spend, the more we borrow, the more we consume, they reap the rewards. King's pawn to King's Knight four, check-mate.

[Sayonarax]

Where does money come from? The US Federal Reserve

But tell us, who owns the US Federal Reserve?

Not the American people that's for sure.

[StreetCowboy]

I'm sorry that the OP doesn't look likely to get an answer.... perhaps try another forum. Maybe the Banking Economy Business forum. Or just PM Naam.

SC

[laobali]

My money comes from an ATM.

I suspect with your knowledge of electricity you are actually a Thai woman

[txp158]

Money is first created by bank as debt.

[StreetCowboy]

Money is first created by bank as debt.

And credit. There is no debt without credit.

[rotary]

Where does money come from? The US Federal Reserve

You mean all the dollars that Obama printed with no backing cause he is stimulating the world economy?

[Loptr]

Where does money come from? The US Federal Reserve

But tell us, who owns the US Federal Reserve?

You want to know how the Federal Reserve finally got created and who owns it? Then read this brief summation of the history of the Rothschild family coming to power in the 1740's. Then you will know who owns the Central Banks around the world.

http://www.secretsofthefed.com/qwefqwr/

[fasteddie]

Money (historically) came as a promise to pay for something you have done. i.e. it comes from work and nothing else. As for all of the rest, the bankers, the financial wheelers and dealers,currency speculators, car salesmen, realtors, most business people and, yes, the Government administrators - well theyactually produce nothing and are just leeches on the productive peoples backs.

Right on.

[Puyai]

My money comes from an ATM. width=20 alt=tongue.png pagespeed_url_hash=3761137055>

My little boy (17 months) thinks that too. Whenever we pass an ATM he shouts "money money". It'd be nice if all we had to do was roll up to the machine, type in a number and "wallah" we've got a handful of money.

[tom21]

My money comes from an ATM. width=20 alt=tongue.png pagespeed_url_hash=3761137055>

My little boy (17 months) thinks that too. Whenever we pass an ATM he shouts "money money". It'd be nice if all we had to do was roll up to the machine, type in a number and "wallah" we've got a handful of money.

that's what I do. lol

[JoeThePoster]

Where does people's money come from?

Temples, monks, lottery numbers & loan sharks.

[Aussieroaming]

OP - How did you answer your daughter's question?

When I asked the question as a youngster I remember being told that it doesn't grow on trees, but I can't remember ever being told where it came from. The bit that stuck in my mind was the 'it doesn't grow on trees' - probably because my parents would always tell me that to try to dissuade me from asking for money to spend on stuff. I'm sure others, as youngsters, have probably been told the same thing by their parents too.

Hold on! What was her question? Where does her money come from, where does yours come from, or where does the community funds come from?

My 12 year old daughter doesn't ask questions about where the money comes from..she brings me a quote in one hand, a cheeky smile and explains how she's been saving and saving but she hasn't quite met the target yet but if I can pay now she's sure to reimburse me when she finally saves her pocket money. Gets me every time too.

[Naam]

Money is created by privately owned banks out of thin air !

Then loaned out to Governments, Corporations and private households.

It is all dept ! .... actually it is not "money" at all but a FIAT currency ![ Something VERY different]

The ignorance of the people gives it is "value" which in reality does not exist.

Go to any home page of any central bank and they will happily tell you about it.

I doubt though that anybody will go ahead and try to read it .... it's more easy to simply call it nuts and ignore it :-)

may i assume that you don't use "fiat" money because is has no value?

[connda]

Where does money come from? The US Federal Reserve

But tell us, who owns the US Federal Reserve?

The US Federal Reserve is a private, central bank.

As the old saying goes, the US Federal Reserve is about as related to the government as the Federal Express.

However, with that said, the US government and the Federal Reserve have been 'in bed together' for so long, you can essentially assume that it's a marriage.