A CONTEMPLATION ON THE CRISIS
Sílvio de Souza Lôbo Júnior¹
1. Money
1.1. Concept, perhaps. Definition, never.
For centuries, money was primarily a material good. Gold or silver coins were worth exactly their mass (weight). In the Middle Ages, it became common to store fortunes with the “goldsmith,” who collected gold and silver objects in safes and issued receipts that guaranteed these assets. These receipts were used for debt payments and in negotiations, thus giving rise to paper money. History recounts that the Templars also provided this goldsmith service, and it was the covetousness for this role that led the French government to accuse them of heresy. Subsequently, governments took over this service. Regarding intrinsic and extrinsic value of money, read:
The minting of gold and silver coins was maintained for many centuries. The pieces were guaranteed by their intrinsic value, meaning the commercial value of the metal used in their production. Thus, a coin containing twenty grams of gold was exchanged for goods of that same value.
For many centuries, countries minted their highest value coins in gold and reserved silver and copper for smaller denominations. These systems persisted until the end of the 19th century, when cupronickel and, subsequently, other metal alloys became widely used. The coin began to circulate based on its extrinsic value, meaning the value engraved on its face, regardless of the metal it contained. (FREITAS, 2004)
¹Student at the Catholic University of Goiás, Law, enrolled in the subjects/classes: Legal Anthropology C01, Theology and Applied Social and Human Sciences C01, Introduction to the Study of Law C07, General Theory of Process C02, General Theory of the State C05, Civil Law I C03, Criminal Law I B02
A CONTEMPLATION ON THE CRISIS
Sílvio de Souza Lôbo Júnior¹
1. Money
1.1. Concept, perhaps. Definition, never.
For centuries, money was primarily a material good. Gold or silver coins were worth exactly their mass (weight). In the Middle Ages, it became common to store fortunes with the “goldsmith,” who collected gold and silver objects in safes and issued receipts that guaranteed these assets. These receipts were used for debt payments and in negotiations, thus giving rise to paper money. History recounts that the Templars also provided this goldsmith service, and it was the covetousness for this role that led the French government to accuse them of heresy. Subsequently, governments took over this service. Regarding intrinsic and extrinsic value of money, read:
The minting of gold and silver coins was maintained for many centuries. The pieces were guaranteed by their intrinsic value, meaning the commercial value of the metal used in their production. Thus, a coin containing twenty grams of gold was exchanged for goods of that same value.
For many centuries, countries minted their highest value coins in gold and reserved silver and copper for smaller denominations. These systems persisted until the end of the 19th century, when cupronickel and, subsequently, other metal alloys became widely used. The coin began to circulate based on its extrinsic value, meaning the value engraved on its face, regardless of the metal it contained. (FREITAS, 2004)
¹Student at the Catholic University of Goiás, Law, enrolled in the subjects/classes: Legal Anthropology C01, Theology and Applied Social and Human Sciences C01, Introduction to the Study of Law C07, General Theory of Process C02, General Theory of the State C05, Civil Law I C03, Criminal Law I B02
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