So in these unprecedented times when money is more scarce than usual

[kerching]

https://www.econlib.org/archives/2012/01/an_answer_to_a.html

 

[Evans Electric]

I'm still trying to get my head round this .        It seems to be how the world of finance  works  ...it only changes when someone actually buys , say 100 dollars worth of tyres for his car or a new suit  & breaks the chain .    He now has something tangible that is of use to him  instead of a piece of paper  with the words 100 dollars printed on it .   

 

[Sharpend]

Money is a concept introduced by the rich to control the masses, it doesn’t exist as Kerching‘s link shows. It serves no purpose. 

 

[Evans Electric]

Should we go back to the barter system ?  

I told someone  ( ages ago)   that I'd just done a job for a mechanic  & he'd done some work to my van  , no money passed between us .

I was told it was illegal  by an accountant  because  the government received no taxes from the  deal.  

 

[Geoff1946]

Can it really be illegal ? There can't be a law against doing a "favour"  for someone and surely it couldn't be valued for taxation?  

I suppose there could be a problem if you formalised such an arrangement and did put a monetary value on it.

Perhaps the accountant was miffed at the prospect of losing business.

 

[Sharpend]

You’ve answered the question Geoff, the moment you give something a monetary value you make it legal tender then law comes into it, whilst it remains a favour there is no law attached. 

 

[binky]

Money is a concept introduced by the rich to control the masses, it doesn’t exist as Kerching‘s link shows. It serves no purpose. 

not quite true, money used to be a promisary note for the equivalent value in gold, but the gold standard disappeared years ago, and now it's an arbitary concept.

 

[UNG]

Can it really be illegal ? There can't be a law against doing a "favour"  for someone and surely it couldn't be valued for taxation?  

I suppose there could be a problem if you formalised such an arrangement and did put a monetary value on it.

Perhaps the accountant was miffed at the prospect of losing business.

Might be one for the Ken Dodd school of accountancy

 

[Sharpend]

not quite true, money used to be a promisary note for the equivalent value in gold, but the gold standard disappeared years ago, and now it's an arbitary concept.

well I think you’ll find it still is nothing more than a promisary note, it tells you that on it, only it’s not on gold but your name and credit history. 

 

[Evans Electric]

I was told it was illegal  by an accountant  because  the government received no taxes from the  deal.  

I help a local spark & he helps me , done it for years .  If  I owed him £500  & he owed me £400  end of month , I'd pay him £100  . This was the same .  We never ever do that any more .