- Lecture/Demonstration: Stone Money
- Class Discussion Stone Money Source Material
- Task: Stone Money
- DUE before midnight MON SEP 24
- Incorporate the lesson of Purposeful Summary
- Use Informal In-Text Citation and References Page (APA style)
-
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Counterintuitive 
A $20 bill is worth twenty dollars but the worth of a potato is whatever the person who owns the potatoes wants it to be. Things are never worth what they really are, one it day might be $3 million the next day it might be worth $3 dollars. Paper money never goes down because it says the amount right on it. Other things change between worth because of the amount there are or the condition the item it is it. When the market crashed in 2008 people said money is fiction and it was never there. Money comes in faster so people increase prices to keep up with the speed of inflation. It is ok to be wealthy even without properly owning the item or property.
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– Products are worth what you want them to as the owner
– Money used to be backed by gold, but now there is nothing to back it up. It technically doesn’t have worth. Money isn’t solid and the “value” constantly changes.
– Stone Money: two required sources and one other source. Write about what money is and how it may or may not have worth. The concept of what money really is. Examine the thinking and the behavior of people in the Stone Money story. Similarities of how our money system is in comparison to the Yaps.
– The bank takes customers money and constantly loans it. The amount of money that’s supposed to be in the bank isn’t actually there. When money moves faster through the economy, it causes inflation. Inflation makes it seems that there is more money out there.
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-“How much is $20 worth? How many potatoes are worth $20?”
-“Do you ever really have money?”
-Money is “abstract”
**First essay due next week before midnight Monday 9/24**
-Listened to “The Invention of Money” podcast. Says that “money is fiction” and the money that was lost in the stock market crash never existed in the first place. Where is everyone’s money going? People don’t save $$ in times of high inflation.
-There’s no limestone on the island of Yap, that’s why their stone currency is worth so much there due to that and the strenuous work to get the stones there.
-Figure out what the parallel is to our monetary system.
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Stone money assignment due before class on the 25th.
initial thoughts-money just is. we place a value and agree and that is what it is worth. “money is fiction”
“money is information”- numbers on a computer
“what is money?”-a system of accountability for placing a value on goods and services.
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– stone money
– task is first essay due Monday sept 24 at midnight
– need 3 sources, 2 are required and given in the stone money link
– suggestion for other sources on the blog site
– notes from pod
– where did money go when housing market crashed
-money is fictional/”money” didn’t go anywhere bc it never existed
– only way to increase economy is to encourage people to spend money faster
– spending money fast creates inflation
– inflations causes ppl to spend faster to compete with inflation
– write about how our money system compares to yap stone money
– write a definition or categorical essay about money
– define in your own words what money is/ how it functions
– 1000 words no less but no more than 1100
– one grade for first draft and can rewrite if needed.
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When publishing work on WordPress, make sure to label it its your username and check off the correct tabs.
Do we really own anything?
On the day of September 18, 2018 the stone money task can be found. On the link of stone money I can find various links to sources for essay.
Money is fiction, it never existed in the first place
If we don’t spend our money, we will cause deflation. If we spend our money, we will cause inflation.
In my first draft of the definition essay, write about my opinion on money using citations and sources
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Initially talked about dollar bills and how they can be fully erased and replaced with a passable image of 100 dollar bills. However it is not feasible due to ever advancing anti-counterfeit procedures that are implemented in modern money. That lead to the question do we really own our money? That can be showed by if everyone were to go to the bank to get the whole of their money, there wouldn’t be enough as its all based on a system of loans, which shows that money is an abstract topic where people hold the value of it even though the true value is in the possessions that they directly own with a monetary value to back it up. With the discussion of the yap stone, as long as the majority of the people of the yap of yap, who speak yap knew that it existed everyone knows that the owner was wealthy. If the stone wasn’t even accessible it still “existed” in their culture, where the wealth was passed down for generations. One can make the link between this systems to modern day monetary value, as even though we as a society cannot, at least the majority cannot, see the entirety of each individual’s wealth it still exists. This premise must be discussed in the assignment due Monday the 24th. We also talked about the specifics of the assignment, as well as what is required for the submitted assignment. Overall today I learned the importance of the psychological aspect of money that even though we don’t see it, it is still out there although in a different sense we don’t own anything that isn’t correct with our own beliefs.
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Sep. 18 Notes
Our currency used to be valued by price of gold; not anymore. Gold was a good choice because quantity is very constant and never disappears.
Money has come a long way from coins to cash to checks to online transactions.
Stone Money Task due next Monday at midnight.
Stone Money sources are at bottom of left bar. 2 are required and site one other source either from suggested or one of our own.
Broadcast: A trillion dollars disappeared when the housing market crashed, but money is fiction. The money actually didn’t exist in the first place. Banks take your money then loan it out. People spend money faster during times of inflation. People don’t spend as quickly in times of deflation.
Massive stone sculptures were used as currency on island of Yap. You don’t have to actually possess the stone to own the value of the stone. The limestone-stone is worth a lot because there is no limestone on island of Yap.
Friedman- Germans assumed ownership of an island and when natives disagreed to make roads, the Germans marked crosses on their currency, fei.
For task, write a categorized essay on what money actually is and how it functions. Cite three sources (2 required sources). Include a reference section and 1000 good words.
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-The history button on Word Press will allow you to see the history of your editing.
-The different phases of the rewriting will be highlighted and time stamped along with the different word counts.
-Learned how to look at different posts as well as which student posted it.
-Money is only worth the trust the citizens have in the US government. Gold is much more stable which is why the money was backed by that and not anything else.
-Three sources in reference section for essay due Monday the 24th.
-You don’t need to posses the money to own the money
-Categorical piece of describing what money is and how it functions in your own words. How the entire world has agreed that money is a common denominator. Not about source material either.
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-We don’t really own anything, money is not backed by anything.
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– Can’t expect to trade something you own for something someone else owns
– The longer you hang on to money the higher prices go up
– If you slow down spending, you are holding on to something that becomes less and less
– It’s okay to be wealthy without having the item that provides the wealth
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•Want to know, knock softly , enter.
•No one knows what you have read.
• When writing a paper a writes is obligated to provide just enough and not too much of background.
•Abstract nature of money
•Money are described as fictions.
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-money only holds value because somebody will take it from us
-money’s value can fluctuate so the buyer might be able to buy something one day and not the next day, but the transaction for the seller will always yield him exactly what he expected; money
– money is fiction
– Yap people use large limestones as currency
-don’t even really need the stone to be present for payment; there is a level of trust
-proves money is really not as real as we thought
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Words of Advice
1.Want to Know
2.Knock and Enter
3.Ask
Stone Money 09/18/19
-The apple guy decides how much you are going to spend on the apples. Money isn’t fictional but it’s prices vary because of all different situations.
-The only things money can buy the exact same every time is an equal amount of that money.
-After exchange comes valuable commodities.
-Objects don’t change only the price of them do.
Invention of Money
-Where did all the money go?
-It was never there
-Money never existed
-Yap money is made out of limestone
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-Professor Hodges will always come to campus on Friday’s if we need it, never be afraid to ask
-Want to know something, knock softly, enter
-Stone Money writing assignment due before next Tuesday’s class (Monday September 24th 11:59pm). Use three sources, five-page article that is given to us as well as another article. NPR Broadcast, Invention of Money- Required. 1000 words.
-800 word sample on the blog as well as samples of how to informally cite APA style
-“No one else read the material that I have read”
-Money never dictates how much of something you will get. Money’s value varies widely on location, availability, timing
-Money will always buy the same amount of only one thing, the same currency in different bills. Money will always be worth what the person receiving it wants it to be worth. Now a days there is nothing to back money up.
-The Invention of Money Podcast: “Money is fiction”
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Sept. 18th
Stone Money Essay: Due by Monday 9/24
-Must be in our abstract concept of money
-Publish in categories “Stone money” and your own “username”
-Must be 1000 words
-Must cite NPR Broadcast and the Friedman essay along with one other source in a reference section
The abstract nature of money:
-“Where did the money go?” The money lost in the stock market crash was never there to begin with
-Money is fictional, it never existed.
-Actual dollar bills are real, but their value is not, as there is no physical backing.
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*“Knock softly, open the door and enter and then apologize.”
*The alphabet and twinkle twinkle little star has the same melody, and he felt that he taught her “The Blues in F.”
*Many products are worth what you want them to be worth as the owner
*The value of money that will never change. And the early exchange of money were coins made of silver and gold. You couldn’t make your coins; it took effort and time and discovery to find them.
*1000 word essay due next Tuesday Read article and listen to the podcast that regards to Stone Money essay.
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Money is flexible. It constantly changes value depending on the situation. Money isn’t fictional, it is relative. Money isn’t valuable . It is a piece of paper, that society gives value to depending on the circumstances. Money’s sole value is that other people are willing to take it from one another. When people aren’t willing to take money for something else, that’s when it loses its value.
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We watched a video about an interesting type of kinetic instrument made of wood and uses marbles. I’ve seen the video before and I’d assume if you were to contact the creator you could possibly fix some things around to produce a different song.
We also talked about Professor Hodges’ crazy Friday events from learning how to play the blues to finding a licence plate with G30 JFK on it.
We went over the idea that no one reads the same information I do. Meaning if the teacher were to talk about a stone that fell into the ocean represents the frivolous nature of money. Then tomorrow I could be talking about it and just parrot his ideas instead of coming up with my own.
We also went over how Professor Hodges reviews a draft.
We discussed the origins of money from bartering system to the first coins. Then we learned how gold coins started to become obsolete and it’s transition into the gold standard and what we have now.
We went over our stone money assignment that is due.
We watched a podcast that discussed the 3 trillion or so that “disappeared” when the housing market collapsed. But we know that it was never really there to begin with.
We learned about how the Yap people of the island of Yap use giant limestone (which doesn’t exist on the island of Yap) disks as a currency. Since the limestone needs to be mined from an island next door to Yap it implies that human effort and capital was spent in mining this limestone. When a king commissioned a few people to make the biggest stone the island has ever seen to obtain the most wealth of the island a hurricane hit and the crew had to drop the stone into the ocean to save themselves. Since the crew was all trustworthy the king was able to obtain his wealth that was passed down generation to generation.
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-stone money task is the first essay which is due on Monday September 24 at midnight.
– history button is important as it shows you what you have done 3-4 days or more days ago.
-you can also view your work in HTML format also.
– want to know. the world is rich, we just need to open our eyes and admire everything and also should have a interest in ‘want to know.’
– ask people. because people wanted to be asked .
– the G30 JFK: it is the 30 nation unity and also named after John F Kennedy.
– want to, knock in, enter and ask.
– to keep that in mind, that no one has read the material which i have read.
-you are obligated to prove a background information to other readers.
-1 hour radio forecast, 5 page essays and also couple of another sources are to be used in for the “stone money summary.”
– it is nothing about the money, it is just the value of money which you pay for the thing.
– a dollar is worth a bag of chips. and if a bag of chips is on sale it is equal to 2 bags of chips.
– we don’t need to physically posses the money to own the money.
– publish your homework using 2 categories: stone money and also your own username.
– the money is fictional because it has never existed.
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-check the history tab while editing to use previous editions of your own work
-paste in words as format free as possible due to html coding sticking from writing program used earlier
-do your best to want to know. The world is filled with knowledge yet to be learned. Ask questions and wonder. Don’t willingly live in ignorance.
-Every time I hear someone play piano, I want to show off my 14 years of piano lessons. I feel sad sometimes that I stopped playing because I spent so long doing it. I think I’m going to get my piano music from home the next time I return.
-I sure hope that our professor doesn’t mind my random musings in my notes. I feel like it helps me remember and it makes class more enjoyable.
-knock softly and enter. Ask questions but be polite.
-nobody else seemed to enjoy the purposeful summaries, but I actually kind of had fun writing it, despite its bumps.
-no one else has read the material I have read. When writing an essay, assume that the readers are completely clueless and elaborate.
-the professor’s criticism is not out of hatred. He criticizes to help us improve.
-the person who provides in exchange for money is the one who dictates how much money you’ll pay.
-however, money is not fictional; it simply varies in value.
-money is inconsistent and abstract.
-money is worth our faith in the government to not go to shit. A billionaire one day could be a penniless fool the next if our country fell.
-money has value only in the fact that we can trade it for other things.
-stocks and bonds are not money, they’re property.
-the “stone money” category is near the bottom of the sidebar.
-it surprises me how little some students pay attention in classes that they paid for.
-if money “disappears” from the stock market, there’s only one way to describe it- the money was never there.
-write 1000 words on Stone Money for Monday night.
-criticism can be anything
-do not use parenthetical citations, use informal citations and trust that the reference section will be enough to provide extra information.
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Mind? I love your random musings. Yours are my favorite Notes.
3/3
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Knock softly then enter if no one answers the knocks. Use three sources in “Stone Money” story. No one else has read what I read is important to keep in mind when writing. A bushel of apples costs however much the person with the apples is going to charge you for them. Ocean City is worth 3 trillion dollars until it is under water. Stone Money information is all the way at the bottom of the blog. Money is fiction. The people of Yap carve large pieces of limestone as money. Their wealth resides in these large stones. There is nothing to actually back up our money. Write 1,000 word paper by next week. Use informal citations. Use “we” instead of “I.”
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– The history button is good to use if you need to go back and make revisions
– Do your best to want to know
– Knock softly then come in if you aren’t invited in or hear anything
– Then ask, people want to be asked
– Introduced Stone Money assignment
– No one else who has read the material that I have read is a important rule to know when you are writing.
– Money is worth that people will take it from you.
– Must use the two required sources when completing the Stone Money assignment.
– Where did the money go when the housing market crashed
– Money never existed- money is fictional
– Must write 1,000 words for this assignment
– Due one week from today
– Make sure that you have a references page
– Only first person word that we can use is “we”.
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9-18-18
WANT TO KNOW
Stone Money assignment due before Tues. 9-24-18
Think of it as, “No one has read the material that I have read”
Address broadcast and Stone Money essay in 1000 word piece. Others are suggested.
Post early if you want extensive feedback and use “we” not “I” if using personal pronouns.
When editing notes, press history to see your writing history. Blue underline indicates changes.
-Money is not fictional, it is flexible and relative to change. Its value varies based on things such as brand, availability, and the seller.
-One dollar will always buy you various amounts of gold at different times, but it will always buy you a dollars worth of gold.
-Money’s value lies in knowing other people will accept it from you.
Example: Ocean City estimates their properties total to three trillion dollars. A storm hits and destroys half the town. They say the storm cost the city millions of dollars. Where did the money go? It was never there. It was only estimated to be worth trillions of dollars because it was thought that as of tomorrow, someone will purchase these homes to total that three trillion dollars.
“There is nothing left to show our wealth except the properties we convert it into.”
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3 pieces of advice
-you should want to know. The world is fascinating. We truly don’t know anything. Constantly fascinated by things, so ask and stay curious.
-knock softly and when no when offers, you enter
-ask. People want to be asked
-be curious, ask questions, share ideas
-want to know, knock and enter, ask, share what you’ve got
-money will always buy the same amount of the same currency- this is the only instance where the government decides what money is worth
-where did the wealth go? Not really there in the first place.
-money is worth anything you want. It has one value which is that other people will take it from you. It has value only because we will be stuck with it in the end
-was there 3 trillion dollars in ocean city? The only thing lost was the willingness of someone to take it from you. Money is there when you sell it. It’s the property that disappears not the money. There was no money there. Just what someone is willing to pay.
-Stoney Money essay due Monday September 24th 11:59 p.m. 1000 words. 2 required sources and I suggested source.
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1. The owner of a product defines its value.
2. Money is abstract, it is no longer backed by gold or any other physical value.
3. People don’t necessarily need to physically possess something to own it.
4. Many people might ask how money vanished from the stock market. The answer to this is that the money never existed in the first place.
5. Essay due sept-24. 1000 words
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9/18
“Want to know”
When writing an essay an important thing to consider is, has anyone read the material the essay is based on? The writer is obligated to provide enough background information to the reader so that they have some sort of insight. Provide just enough, but not too much background information.
Stone Money:
Money does not spend the same way in every situation. Its value varies on time, location, and country.
Money will always buy money. A $20 bill will always be able to buy a $20 bill.
Money might as well be at the bottom of the ocean. The amount of physical money people possess is diminishing. Cannot touch all money saved in the bank.
Incorporate in-text citations within writing to accentuate it, do not put the author’s name in parentheses at the end of sentences (too boring).
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You can compare summaries side by side. Finding the category by the name and number makes it easier to find. We started to talk about money. Growing we are not really able to distinguish between actual money and Monopoly money. Money is made of linen, fibers. A friend of his figured out a way to get the ink out of the $1 dollar bill and make a pretty decent copy of a $100 bill. The only way the government knows how much money is worth is by putting the currency in the bill. Back in the day they would match the worthiness of gold with the worthiness of dollars. This was due to gold’s non likeliness to fluctuate over time since gold is a rare metal. Used the example of someone who owns a 3 million dollar. If an hurricane comes, the worthiness of the house lowers. However, someone else comes in and claims to be the owner of the house since the owner did not visit that house in years. Meaning that the only one person owned the house but he did not actually enjoy it. He used this example to represent the value of money nowadays. Not everyone has to carry their money on them all the time. We have created different ways to represent what we call “money”. Money is actually fiction. The difference between inflation and deflation were explained in class. It’s okay to be wealthy without even possessing what makes you actually wealthy.
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It seems counter intuitive that happiness isn’t given to someone, nor is it available for purchase. Yes, you can buy a Lamborghini that will make you happy, but it will never be perfect, someone born and raised in the ghetto could buy a ’97 Toyota Camry and be just as happy as the person who bought a Lamborghini. The hard work paying off is where happiness derives from, and money can’t buy that. The Toyota Camry might be more valuable to the person who bought it than the person who bought the Lamborghini who also has seven other cars. Value doesn’t necessarily mean price, it is how much something means to you.
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