Seems like it would be nearly impossible to live without a bank account these days. But it is possible! Learn all about banking and personal finance in today's riveting episode.
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welcome to stop. You should know how stuff works doc. How are you and what do the podcast Josh clerk canoes Charles the reach of bright, MRS, thus prevent abandon this week and knows in there for second earlier, like home alone, oil of that movie, when it came up? Oh yeah, yeah the sequence, the big breakin sequence, where he had everything rigged that fifteen or twenty minutes. I thought out: for the things that ever seen, there was a pretty good movie. I just laughed and laughed and laughed John Hume movie Hooker makes sense
Chicago suburb setting tour, he loved me ass. He did or IP are Ip Chicago suburbs now or be John. He is oh, I see more santerre. Yours is a couple years ago right, not young officer within the last five outer man, oh gray, movies Cry Baby knowing flamingos Nope Apocalypse now yeah, he's good He passed away into those nine, so here, seven years, why? No, while. I was way more reason than that time flies and world without John Hughes. You know what time does imply chuck at the beginning of our episodes drags as body So today we are talking about the possibility, the potential-
living in this modern american life modern world in general, without a bank account sustainable being no more interesting than I thought it was gonna, be oh yeah enclave. Those case less interesting than either of the enemy. No, no, but I mean we ve some of those before they jackhammers comes to mind. That was better didn't know, it was the opposite. Here has like wait. Wait There has to be more in jackhammers, illness, nope. That was your pick. It was now forever there that cross. So you would think that banks in general, ubiquitous in huge and powerful and growth. Control, as they are been around for millions of years. Two million, thousands of years structure,
It turns out actually that the bank, the concept of the bank, as we see it today, is We only about five hundred or so years old. Yes, I guess way older in that year, and I'm glad this article, the lower history there Cosette, I didn't know any other stuff. The first actual. Bag kind of modern bank that we think of as a bank was the bank Saint George Relief Bunco, the sand, Jill nice. Genoa, ITALY is s agenda. I've always seem, as you know, our Genoa, Genoa, Genoa. So that was an end. They point out his article that, with the positive the invention of banking, because banking is different than a bank yeah. Thinking actually did start thousand years ago. Yes, for as far back as Mesopotamia and Egypt,
this article says that the that green certain captain temples and in a green bank I saw gold area, but the upshot of it was that temples there were built were basically sacrosanct, their armies would protect them. With their lives in it. So It makes sense that if you wanted to store something extremely precious invaluable gold what does put, The Temple, The earliest reserve I guess you could put. It were temples in Egypt in Mesopotamia and then one at some point some of the local people or local rulers came along. So hey. I really need some money. You guys have tons of gold to sitting in their can borrow some of it and then give you the amount back plus a little more for letting me and they said which we call this. Then they call it. Banking didn't wear that working from,
earlier because they probably didn't call taking they probably call they like sewing crow or something like that so let's go back to fourteen. Oh eight, in ITALY in this is when ITALY had city states away. I had more, I have more, oh, you did yeah. So It actually is kind of interesting. I far down the way back machine. Ok, yeah does keeper idling? Ok, pvc, so you have the initial banking practices and they kept developing in developing, and then Greece and Rome really kind of took on an inn. The town with them things like em. Transactions where you can go into a bank in one city in depth at some money and Could handle? Credit arranging credit for you in another city see didn't have to travel from one city to another, which is very dangerous with a bunch of money on future the book transactions. They came
the Greeks and Romans, and these were gone long smoothly and then room fell and it was by the holy Roman empire, which was a christian empire and in reality have this varies, drool against usury and usury today means extremely high interest rates, whereas at the origin of the word. It meant discharging interest at all, so there is no money whatsoever in banking, so there weren't any bankers, while the jewish faith? didn't have any rules against usury. So as the holy Roman empire was in inner in power? For these several hundred year stay fulfilled, the banking industry will end finally about the Think thirteenth fourteenth century. When, like these, stallion started again into it, and they kind of created that that
modern banking system that we see today can I get back in? Can we get a fourteen await specifically mark, fourteen away. This is like a tea before in ITALY, this is that at the time of the city state, when you would go to war with one another within your own country. Specifically, in this case, Genoa was gettin trot upon by Venice long long war within S, big rivals and basically what happens many times in war. Is it sort of bled that's state of Genoa dry and it was in bad shape, so these folks got together. That did look at applicant member, Was the initial investors that stuff, the the bankers,
George and they said hey, let's go this thing and like literally in a building, it will you're back and we can find repayment, war debts. And earn a little seven percent on top on top of it off and in fact got better idea. Why don't? We even have the power to go and collect city taxes and customs and stuff to make sure we get paid back and it worked yeah it did they brought genoa out of bankruptcy and apparently bank went on until the nineteenth century, yeah like four hundred years The most recent endorse it yeah it's cool. One of the reasons- probably, why was successful that at the people who were overseeing its word, three invested into the bank clear? Strangely, You were one of the treasures you had do, invest at least six Ten thousand lira, which is safe. Four thousand dollars in today's money.
Directly into the bank great. So so you wanted to see that bank succeed like crazy, because you are doing invested in it and if the bank, when under you, stood the loose quite a bit, that's that's not the case with Today I mean companies and I'm sure, including banks, to like their impact to be invested in the company, but certainly there not a requirement that you have several hundred thousand dollars worth of your company stock to be. The director of the bank right the bank itself, can very easily be over extended, it's because of what are called reserve requirements right yeah. We should do the whole episode on banking by the way yeah way, especially that follow recently with the well Spargo. The fake come the thick account year. Dude have used May I add that they have about it now, This add in its own, like they shaved off the first five seconds.
Where they admit that their people created all these fraudulent account right and then add comes in at everyone who is affected will be fully refunded. We want again your trust back, but they never say specifically what they're talking about like they never to the hidden bizarre. You know that saying it makes nl, it is still worth all the other. We are likely to say it's an oily oily, we easily ad, and they have it like it's. You know they ve got there Fargo Guy like running in the background. Distract you may be taken your childhood playing with stage coaches and stuff, there was before the summer break. Keeping out of her eyeballs here, an earlier him yeah before encircled, two dozen ten right so yeah No, I mean she's watching the commercial and crying blood dears none think Elizabeth Warrant, Circassians, he doesn't ten would have. I think these days I got over
no man, she led into him. Where did she go? Oh yeah, yeah yeah that video there was pretty awesome bogus when was that made oh, and when she my ambassador after happened, like you know, month by month or two ago, ok Billy, she was a little more lionize last several There is, then she has been lately Yeah me she went after specifically Amy, this rather Riot ACT to the sea. Oh that's good and was like. Are you gonna give back your bonus money, this happened on your watch. Why don't you give them money back? He's like you talking to me, but one is one of the things I want to say, though, about banks that there just sit in such stark contrast that idea were used to have to contribute your own money. The reserve requirements of banks are looking into this Chuckie ready. Yes, if I ever
there's, a ten percent reserve requirement of that bank has and they they have a hundred dollars. Can low now ninety of that hundred dollars to somebody right They have a ten percent reserve. Now, let's say a person rights for that ninety dollars, like they borrow the hundred bucks to come to They borrow that ninety bucks to pay off it a debt so they write a cheque for their ninety bucks to somebody who bank so that banks are right. Ninety bucks comes right back to that bank right there, they came loan, Eighty one dollars now percent of that and so on and so forth. Until This one hundred dollar chunk can be cloned and repaid in loner, repaid all over the place, which makes soon. It keeps everything can going. Financially, but,
The problem is: if something happens, if a panic sets- and this is why runs on banks- are so such travesty and everybody calls in their loan all at once. Well, there's a lot of people who are calling in that one single hundred dollar hundred dollars. You rather than having the time to pay to pay it I commend call from somebody else and use them to pay the other person back. It's just a big. Cluster all at once. Our then exit, it is one of the many interesting things about banks yeah, I mean there clearly other podcast that we should take when I think, but since this one is about not banking, we'll take a break here, go withdraw our funds and we'll be right back
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You have well about most cases, but in many cases you have automatic deposits of your of your work checks. Sure a lot of people pay their bills. Wirelessly online directly from their bank. You might have a student loan. You might have a car alone. You might have your house mortgage, you might pay your credit card bills. All this stuff is running through a bank most likely, and you think It's probably impossible to not have a bank account these days and It's a pretty much all Americans have them, not true who you are the pretty much all american. You'd like ninety three percent do yeah, but that's not a hawk No, no! It's true! Yes, seven percent of Americans do not our bank accounts about nine million people
last year, two thousand fifteen did not have bank accounts, not a million people. Let people know really is an apparently. This allows. That's household sorry, not people, yeah, you're, right, you're, right those big distinction to end the f B. I see man. That's the lowest since we ve been tracking this by far someone's over how long have you been tracking? This is the last six years really which I like we're really that when they started tracking it, but apparently so two thousand So if you want another number, that's the nine million american households. Don't have bank accounts at all. Then there twenty five million households in addition to that. So that makes almost the slick- thirty four million households which, as a substantial number at this point, the twenty five million or what's called under bank meaning they may have a bank account, but they dont use. The bank account yeah. They don't use it because I'm
they are probably afraid of overdraft fees or they have made a bank account. I got grandfathered in right so that they don't have to pay minimal amount fees, who knows there's all sorts of reasons for peoples are not use a bank account to be. They have Probably chief among them is overdrafts. What you'll talk more about yeah no majority. These under bank people in the United States, poor usually wanna times their minorities allotted time, say or less educated, these communities I mean there's theirs. Reasons why they may not want to use a bank one. Maybe Don't trust banks and if you look bank one. Maybe they don't trust banks. And if you look in the history, the United States are certainly like that on the news, it should be upsetting to everyone. But obviously, if your poor
and you don't have a lot of money that will may scare you and do not wanting to use a bank it all right. You know yeah and another one. Is that the overdraft fees which so far clear, I guess in two thousand and one the current overdraft, the idea scam, you could call it was set up, as a way to generate like way more money for banks right, yeah, and the way they overdraft these general money for banks is You are overdue, sit on your account. They can charge you a fee for covering that amount right. You'll have to do that that amount, but they they don't return your check they cover. They cover the check that you pay, but they charge you a thief say like thirty five dollars. For that amount, fine and dandy, and everything's fine, but there's thing called clearing checks from her Taylor Right where
The bank will clear checks in descending order of value, so if you have, a hundred dollars in your bank, account and you have a check Four hundred and fifty dollars check for twenty five dollars a cheque for five and check out for fifteen dollars right yeah. They cleared the lower amounts first and then the last one. Only the last one would bounce in creating overdraft right if they start with the bigger one, where you got no regrets dressy right out of the gate But then you also have three more because the other smaller checks all bounced as well and said of one over dressy, they get to charge you for overdraft fees, and there was a huge thing when, when there was finally reported exposed and then actually resulted in that room. That now you either
to opt in four overdraft protection words before you opt out yeah. I remember that can a day when I was broke is about and I would overdraft things here and there I remember nothing about how things work with finances. Still don't really, but I would just remember, think it MIKE. I would rather it say no, you like dont cover me and then to charge me, just say: no, you don't have the funds the smart way to do it. I never understood like it was like, even called it over insurance- maybe then I'm very or I might be making it up. I seem to remember them saying that it was like. What that guy, just like that, what the Czech bouncing I'll take it up with them
yeah. The way was marketed, though, was like hey. We value you. We want to make sure that you can pay all your bill. So if something happens in your overdraft, it will cover it where they can charge your fee, and it sounds good. But again when you go from hide a low and all of a sudden Euro Jesse go from wine to four or five or however many you know, that's a huge who were in the people there over drafting and the people that are least able to afford those fees. Actually, so it's a disproportionate burden on the poor, which makes it as its I am one of the more evil scams around. Yes, it's just wrong so so yeah. The idea that you that, if you are, if you an account. You should not opt in four overdraft protection. It is easy to say when, when talking about checks for like come uranium,
for a mountain doing some Tito's? Now? Who cares? If you give you a few short for the NGO without that? But you know it's fucking molecule rent checker, like it'll in actual grocery bill, or something like that. You know it. It sucks thursday- that you can't get that stuff, but it's better to to put a couple of things back then to pay thirty, five dollars for one to dollar item that that you went over by right, yet its good points- and this was I came to this is also back in the day when you are. I mean a lot of times. It was a mystery how much you have in your account right: you couldn't get on your phone and before you the Czech and the like of well now- and I have no money to cover this year, because even if you balanced your cheque book you sometimes you got to carry the line. I wasn't always a hundred return accurate and if you had- If you didn't necessarily rectify year, bank checkbook everyday away what his bouncing attack, but many fears they got for my wife
so another reason you might avoid a bank is logically you may Have the there may be a long standing distrust of banks in your family that you do put your money and or you may just want to be like you know it. I don't want to take part in this. Modern society, wanna gonna drop out of a bit a really good. First move is to such a ban, count down. That's a big statement. Oh yeah, it is you know, but A lot of people that are under banks and dont have accounts art there on purpose. It's not some philosophical state, a lot of times is simply because They are poor, and then I have a lot of alternatives. Yeah and the other thing about about not having a bank account. Not only do you not have a bank account you also or like basically just avoiding banks, all the goes plenty of other things that banks offer like low
and the more he lollipops stuff like that, yeah yeah, maybe some free nasty coffee, so, when you, when you don't have a bank account, it's like them, the most. The unit of the banking world trade. If you don't have that, you obviously aren't going to be exposed to these other things. They can help things like build your credit history through, like a revolving loan, or a mortgage, your car loan, or something like that there I can build a future. Four and ultimately save money, when you don't have a bank account for whatever reason you are effectively out of the banking system. The problem is, you can live pair also the banking system outside of it, but it can be really dangerous, especially if you're just dealing with cash, because their cash has to say somewhere It's on you or mattress or in a coffee can, in your backyard year
exposed for fur having that readily available, that anybody who finds it or comes in your house with a gun to get it. Yes, which is another thing that sucks there's no insurance. For that you know. If you lose your cash, you lose you catch so one thing that people rely on. Sometimes these days is an alternative source for alone, at least They called the payday lender. You might have in these little bricks and mortar shops with them with the, the outside in the window, cash. Now, What do you know this day stuff like that you can. You can go to these places application process. One effect. Your credit score sometimes than me. Another say that if it does it and you can get money like the next business day, if you want three hundred go in there and get three hundred bucks, but you're gonna pay a fee.
On that in its big. They say, the fees. If you pay back within eight Is it works out? If you, if you put it The scale of AP are unknown percentage rate of like three hundred and eighty percent is what your hang on that loan For a hundred dollar alone and Cabinet USA site, I want to draw alone pay back any days. Further. I see an interest you pay six hundred and eighty four percent, those things van where he see this and you like and how can you not look at it as bilking? where people out of more money was people who use payday, lander, say hey. If you look at this you, when you look at their rates in terms it's all laid out, it's not some crazy percentage. I have to figure out and come up with compounding interest or anything like that. It is it's it's if you bought one hundred dollars, you have to
he's back one hundred and fifteen dollars. There's a fight like the ten dollar service fee and then for a hundred dollars is five percent five dollars an interest rate That's why you always is a hundred and fifteen dollars. It has, quite a lot of thought, a lot of them. There is not a lot of wiggle room for them too, to add more fees or anything like that. It's you know what you have to pay back, but that said they they very quickly can comprising a trap. A payday lending trap that people get caught in, especially when they start rolling over loans. Yeah, and you know what I said. It's like hard do not look at it. That way. It's because it's it's not like! just feels like hey. These people have thereby up against the wall, and they really need two hundred bucks exactly so You can get it from us, but then of course, there are. Another can plead other set of people that say yet it that's the deal.
And you know it dont use that place them right right. There that place, then right right there ass people. You need to have an alternative that fair for people, because peace need loans, people get overextended, emergencies come up, there's two things that people need money for legitimately and like fish you have to be preyed upon so one of the alternative system proposed is to get the regular standard banking industry involved in small, short term loans? Yes, what a payday loan is there any six to ten times less? right. Exactly vice. Do you with As far as the bank's concern, the customer would still be paying way more than was there the standard, a pr that a normal bank charges right by telling customer be way less than what they're paying too the pay day lending place here.
I'm not sure why banks aren't into this. Yet I dont know I get the impression that there might be some regulation that prevents them from being involved. Or they just start interested, but that seems the key, because that also seem to be a pretty good gateway to get People who want to have a bank account in the banking network by starting out with the small small loan. You know you would think so you would what else prepaid credit card. Those are more more popular. These days you can get a bit of convenience store. You can load money onto it, use it like a regular old debit card when ass a credit card debit card, just what you think it is here, with those. Is there really really easy to scam? In two thousand thirteen, the Federal Trade Commission got eighty five thousand complaints. I told you forty three million dollars in
scam frauds with debit card. What do you mean like theirs, oh they're, they're almost impossible to track anything after purchase impossible to trace so the it's. It's really easy. It's like a prime opportunity for someone to Scam, someone like if someone hey requests payment from a prepaid, credit or debit card, then once they have any information, they just go use it in this not like they have somehow I thank behind it. The can trace it and track it down and out it's it's. It's just a really easy way to scan people out of money right, and this is one of the problems with them all. Despite At the time they ve grown in credit. In popularity. In the? U S, between two thousand and three and two thousand twelve, the deposited on pre paid debit cards went from one billion to sixty five, five billion dollars between what to do
and three and two thousand twelve behind years at the sixty five billion dollars from one billion in this, this if it were the easy scam ability but ass. Getting kind of scam by the people who legitimately run these prepay debit card companies apparently there's fees for everything, loading your card, which usually do at an atm using an atm checks. Balance This there's a lot of additional fees that really kind of quickly sapped the amount of money on your prepay debit card Fortunately, they consumer Financial Protection Bureau stepped in. As I have one last month, member yet yeah tomorrow. Ok, as of October. Two thousand sixteen there's new rules that say that if you,
a prepaid debit card company? Had the disclosure terms up front, you have to let people find out their balance for free costs some of the fees they have to have to be able to arm have the option to not have overdraft charges overdraft protection it's a lot more regulated now, as of last month yeah, but I wonder what if it's the same thing is like banking fate there, like sure, close that in fifty page document here in that no one ever reads like they need to do is say how they need to disclose this yells ship some guys to come to your house. We will then have to tell you straight up I go over to observe Gimme a splash my face with agnostic here. Have him right back after this
check it out. Shall I mean God, you bought you by just mercy based on the incredible true story: arise thieves in a modern day, hero attorney of freedom fighter who story affects all of us in his buys us to do good and be better, is deeply moving in his firing. Film show the never ending fight for equal justice in Nepal. One person can have to create a world. A different story might be jawed, Jamie Fox and relaunch it every region. Has his hero meet Ares, just marthy, now playing only Thetis, I check so Let's say that you don't feel like beginning scam by anybody. Nope you just
Gonna be free worried. What can you do? What are some of the things you can do? Well, there are few things you can do you- can try and alternative currency. Ok, so are you if you wanna be really weird canadian dollars? That's what you mean No I'm talking about where we thought about Bitcoin. We is Eddie, I think, too, that go out. No! No! It's so doesn't want to. Thank you. I think it's just maturing and growing gallantly so didn't have sought an Bitcoin I had no idea that there are alternatives: currencies in communities. All over the world, the right here in the U S no idea- and it's a really cool thing. I think yelling shares, you looked into Berkshire yeah Berkshire very clever name, because it is western Massachusetts and the Berkshires
watching two thousand six they have sixteen branch offices and for local banks that support weaken actually get a berkshire. Trade in your money for Berkshires, for participating businesses- that's great oh here's, here's what it is in fact I'm leaving in a red directly from their website. It makes a lot more sense. Low convoluted, can, some background music, you ve said something Burke fury. So there's a five discount here's outworks. They follow a hundred dollars through a day to explain it. So we wait till those when you start the quota already area you gotta back any purchase your berkshires. Does you wanna get a restaurant? Then I must say you go in with ninety five: U S dollars! and you say I would like to exchange this. So they give you one hundred berkshires back yard,
So you got your dinner, you dinners LE, say a hundred bucks right on the nose of the restaurant takes your Berkshires takes all one hundred of them. You pay your whole bill in your berkshires, and so you have actually spend ninety five. U S dollars for a one hundred dollar meal, so you ve got me a little five percent discount and honour their restaurant has that hundred berkshires. They wanted deposit that for real money. Let's say U s: dollars return them to that bank. They bring him to the bank at the bank deposits that hundred berkshires and gives the restaurant the ninety five dollars the same. Ninety five bucks you exchange. So in the end you get that five percent discount, because all because that initial exchange that same ninety five dollars, you traded for the birch years just to the business breeze, spinet yeah yeah, That's the key to this whole alternative, hyper local. Currency is that it is intended to keep.
In services and within the community here, because you can't go, spend a berkshire anywhere else but nurtures they'll say what is this looking bill. Where are you from the future? Something and is actually very cool thing is that we are the cancer. I looked it up. The one Berkshire unit is Mohican, the original inhabitants of the Berkshires. The five is w e b d, blah blah blah strengthened. The ten is Robin Van in CO founder. Of the community supported agricultural movement, indian line farm this this keeps getting the twenty is Herman Melville, ah some other Moby Dick, of course, the fifty his Norman Rockwell. As in Iraq or painting of rock. Where was this Rockwell and then the the one thousand berkshire. It's a photo from a drunk a cow yeah, pretty much. The one thousand Berkshire is John Hodgman
he's, a national treasure, noticeably Berkshire treasure now just getting there is no one thousand, but is They have their own money and it's like It is a really really cool thing. Like your spinning, there's, like I said, four hundred petitions, businesses? So it seems like a a successful programme and there's a lot others there's the Toronto dollars spring dollars Ithaca hours, but the Berkshire seems to be like one of them, but more robust programmes yeah. I mean I'd heard of it beforehand heard the other ones effect. A toy has one as well the Berkshires had heard of the force of it, must be doing pretty well one. This is nothing new in the early into the early nineteenth hundreds local currencies, were a big thing. Like every bank, could Golly print money before the federal government, violence that nowhere really the only ones who can print money there think like a hundred or a thousand or ten thousand or some ridiculous amount of
currencies in the United States. Up until like the eighteenth sixties, yeah, it's crazy, What about the Mps? Have you heard that before I hadn't heard it, but it's really pretty cool as well I'm. Pacer is As for mobile, pays a pays a me money in Swahili here and it's this kind of new alternative currency, that's in Kenya in the last few years, right, you're, innocent or mobile right right. I forgot that parties Ricky So in Kenya, most people don't have bank accounts, but they do have cell phones. They were lying cash alot more, as we said before, cash can be very dangerous, is also bad guys out there who need or want cash for their own. They don't feel it I'm going out and doing anything for aside from robbing somebody right, if so cast his dangerous them anywhere. You're, an M M pays. It gets around that by
allowing the people with the cell phone, I think it's the country's biggest cellphone provider. Whose created this and you can go to one of their cell phone companies key asks theirs. Hundred thousand of them around the country, and you can see here some money. I'd like it deposited is credits on my phone. And all of a sudden you have a phone for money, look cool thing. You can take their money and transfer the text to somebody else's found near any. Simple, is that it is those that you go load up your money where your phone over some money to Kiev and then it is you to spend that money Harvey you want. You can use your phone to pay. Things like come for groceries for water fur. Goods and services, all using your found its basically what everyone who is thinking about the future money thinks of when they think of the future of money that there's nothing to be dollars or anything like that organ to just be credit associated with your name in this case,
The Mps in Kenya is associated with your phone number yeah a big deal now, not just in Kenya. In Tanzania, Mozambique, Egypt, somehow, Ghana, India Democratic Republic of Congo. And then even in a couple of eastern european countries that albanian Romania, the dough It'll spread west, but you never know it's a much bigger deal than anyone thought I was gonna, be, I think, will supposedly the there there's a big pushed it they're from spreading westward by the banking industry because The things that makes us are attractive, as is really low overhead involved in this year, and so the the solar cell phone company is charging very little interest or fees, so it it cheaper to borrow or get or use money through, and pays a system than it is through. Traditional banks depend, I'm phases just kick in their birth all over the place
and of course, what is happening is that the banking lobby has started. Barking all over the world to black things like em they're from coming into their markets jealous I'm saying. Yes, they were just completely undermine them, and again this is very the future of money that, Curtis associated returning there. I mean, if you, if you bank, virtually online or you- you get your paycheck electronically your bills over over websites, and all that, like you you're already they are basically its decision. That kind of look like You think of his money. T ever had still it's just. At its in numbers associated with your name and in this case bank account numbers as it is with your phone, and it also removes the bank because it puts it on your phone. So it's up to you A lot more as the shot out to our art,
pursued on currency. Yes, that was a good one shudder So then there's this other thing. If you get a little more hippy dippy, even If you thought Berkshires recurrent indicate that refer for ya, get ready for time, banking, time begging is a thing where you it's a given ex given take an exchange of services with the core principle, it's all equal. So if I baby sit for your kid, you- My deck in the hours are the same that that the Value per hour is the same. No matter what you're doing is a value reserve an hour of your time and effort. So Mechanical psycho, barter service exchange were base, We all you have to do is get people to agree on that core principle and then you have come in the same coffee
When, on you in your community went to their website enters these little there's a man You can view by map like the places rican time bank and I clicked on, boy. I feel like I clicked on about fifty of them. And none of them had any activity with them like three or four years. I could see that side. No, if time banking took off like they thought, So then about you know, maybe I'm looking in the wrong places like let's go to live. Burlington Vermont Burlington head time making going on and like the last week. Ok other places in Vermont didn't I was like. Let me go to some really crunchy towns and a couple of them looks like they were still use in it, but it doesn't like I don't know when this articles written but I'm not sure how viable it still is. I mean I'd like the sentiment yes concept at school, but but
is- is our all out of her all types of effort equal. Though you know, if you agree that they are, they are, I mean yeah sure in that case for sure, but I too seems ripe for introducing like azure ledgers and in feelings and resentment and stuff like that years ago, as you like what you fix, my Frazier, our I want your driveway. Would let me hold still there and watch it make sure it's good Andrew watcher. It's an hour. The challenges they washer, none watcher looks like they were still use in it, but it doesn't look like I know when this articles written but- and then we had a finish up with his did mark boil, and he was a man, I thought this is pretty admirable. Ere. He sees written a couple of books, one called, I think, the first one garden, the money less man call in a year of free.
Comic living, there are more recent one. What have I done? The most recently called the money less manifesto. Both of which are available for purchase unnoticed. Mine isn't going to him. They just dump it into a landfill against him, but in his I do want to flag and he does offer it completely. Free online because if you want to read it for free, it said- or if you like- to support the author and by the way, back for twenty one. Ninety five, so he was some. He basically said: I'm gonna live without money for three years is like an experiment is like J Jacobs is a thing I treated up from a paper. Click to house he's just he's a writer and in New York that is done. I mean, I think they call. It start writing which cheapens it at a bit. I think this is called
but yet he'll do things like eat. He did one callback the year of living, typically, where he completely just lived according to the bibles practices and stuff like that of age ate. Like is probably down with this. Mark Boil guy because they jailers in New York, so he wouldn't with money. Was I dont know He marked oil, in other words right here. Why he, a jailer says to the show hey. What has yet so this market. Who might foil may listeners show? Who knows if, as is free but here he went on and lived in the woods and sustain himself through farming. Foraging sure, embroidering right, and he basically just said, like employed money doesn't exist. To me not like You could give me money and I can use it for something like that, like he just didn't use money at all He said he was way happier during this time, made a more creative,
give my with his personality or on his personality, suited to make sure it was a good one year that when that really jumped out at me, is somethin beneficial. I didn't think about that, like he literally like my currency was, was me and my character, right and how to how? Can you not work on that? If that's? What you're, counting on can't be jerked? Every party You know you, like you, gotta, be a person. Wants to give a jerk a free, baggy carrots enough. That's a t, Shirt Irish by the way too, which means he's great person maybe you'd better a show in Dublin that was a tree now. I guess it go to snuck in this draft count I wouldn't mind he would have had to explain himself. We take stowaways, We do, though, encouraged if you'd like where we talk about it.
Anything else. I ain't nothin else policy vote your babies junk food or alcohol, wise words. The boy get the matter. The episode agreed If you want to know more about living without a bank account, you can take those words in the search for a host of works that camp, and this house to works cyclist cool email from cook it. Hey guys! I am Ryan guns your ascii Now I guess you gotta snuck in this theft count I would thousand ten, when I was just ten years old fool Absolutely I wanted email, you guys for so long and I'm finally doing that founders show through my cousin. When I first started listening. I downloaded all the pot, yes to my small ipod, all hold in almost every night, for I go to sleep or two
sleep with wonderful learning and entertainment, and you too are masters of like this kid all I do too. Last year you came to Philadelphia for the wife show public relations, and I was there in order to see you do your show live When I was there, I got me thinking. I should complete my task of emailing, both of you. So came up with an idea and how to share his story. These diagnosed with type one diabetes. On August, seventy doesn't fourteen. He said with that. Different world than the one I knew before. It was tough new that others with type one I've had it so much harder than I am doing well and healthy, which is something I am proud of Another reason I'm writing is maybe get take us on this topic, maybe a to partner One is one part and tied to as another. It is not a bad idea. A reason I want to make that request is that a lot of people don't understand the difference between the two and you. Being the best at explaining things that I now I thought you could totally explain it excellently.
This kid has mastered the flattering: is the seas get I like this guy, like you a shape my mind you to shape my mind from the very start, keep doing what you're doing and keep being the best much of Ryan, denser ascii from Dana thanks a lot right, repeated in Paris, but the sun. Mr mail, I wouldn't mind wink wink nudge nudge, what a cool guy, yet he, call dude rhyme. We appreciate it we'll put there on the great list of ideas, and maybe we'll do that under here- and you know it Ryan. If we ever come back into show and Philly or anywhere near you, they can get to you my friend on the guest list, Lou NICE, to remind us of that area, and saying: hey Gimme, free tickets and the subject line took a boy who are you
No. You have to show us some idea, because there are so many people who will try to fake it. Now, yes, and you will probably have to come with your parent and it'll, probably the ticket sir, ok so examined all this out, and this is a thrilling enter this every. If you want to touch with a slight cool, do drying, did you can t to us? I'm at Josh Clark, ending the official as wires K. One is as why escape I cast with chalk on Facebook and Charles W Chuck, Bryant or Duffy should now you can send an email, the stuff podcast, the House divorce, that camp and is always journeys that are home on the web You should know that com for more on this and thousands of other topics for the house dot com
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Transcript generated on 2020-01-11.