Banking 6: Bank Notes and Checks

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14 Responses to 'Banking 6: Bank Notes and Checks'

1. biagiolembo - January 17th, 2010 at 9:49 am

   sorry,
   what happens to the cash when it is used to pay back loans?? does the bank keep that cash for itself??

2. illmatic33 - January 17th, 2010 at 9:49 am

   If someone write you a check and you already cashed it, how long does the person have before he/she can no longer stop payment?
   ps. amount of $500 (if that matters)

3. vornavalley - January 17th, 2010 at 9:49 am

   It was not planned and happened by accident. See Paul Grignon’s video “Money as Debt” – Part 1. Basically what happened was that people took their gold to a vault owner for safekeeping and were walking around with receipts for the gold. When they wanted to buy something some people just started handing over the receipts instead of withdrawing their gold and paying with it. The “banknote” was born. Sounds plausible.

4. Falange2000 - January 17th, 2010 at 9:49 am

   get a life

5. 69Bluntsmoka420 - January 17th, 2010 at 9:49 am

   Pretty much the only time I use a check is when I owe a friend or family member money and I don’t have any cash on me.

6. snopro54 - January 17th, 2010 at 9:49 am

   I wonder what he does with all those ones.

7. BigPurple121 - January 17th, 2010 at 9:49 am

   Knowledge is power

8. Kin94285 - January 17th, 2010 at 9:49 am

   the first form of bank notes… probably not the first… its not unlikely that some earlier civilization came up with something similar.

9. jackuy12345 - January 17th, 2010 at 9:49 am

   good work keep them up~~~~~

10. luke2468013579 - January 17th, 2010 at 9:49 am

    Actually bank notes first emerged in china and the earliest forms of cheque were i believe used in rome.

11. ThatIsNotDeadWhich - January 17th, 2010 at 9:49 am

    Italy, but precisely when I don’t know. Probably during the early Renneisance.

    The word “bank” is actually derived from the Italian word for “bench” because the moneychangers would sit on benches and trade money. And “bankrupt” is from the Italian phrase for “broken bench” because a moneychanger who went under water would get his bench broken so he couldn’t do business from it anymore.

    At least that’s the story I heard.

12. footlestool - January 17th, 2010 at 9:49 am

    When and where did bank notes and checks first emerge as a form of currency?

13. ariesas - January 17th, 2010 at 9:49 am

    yeah usa will collapse! what a great day that will be

14. jdrizd2 - January 17th, 2010 at 9:49 am

    I see where this is heading…

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