GREECE, 500 drachmai 1955, Socrates


GREECE, 500 drachmai, 8.8.1955, Face: green on multicolor, Socrates, Back: green, St. Paul, P193a, light yellow spot, Unc

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I read Plato recently, which is all about Socrates. It became evident that Plato was a rich bro, Socrates let some of them hang around with him, they didn’t understand what he was getting at. It seemed to me that Plato was using the memory of Socrates to advance some of his own stupid ideas. Why do I think this? Socrates’ favorite position was: I don’t know, how might I find out, how will I know if what I find out is true? When, in Plato, Socrates goes on about life after death and such, that, I think, is Plato, a guy of opinions and desires.

Aside from China, other governments started using circulating “banknotes” starting in the 17th century AD. The practice became general in the 19th century. In the 20th century value of paper money in circulation far surpassed the value of coinage. In the 21st century paper money is fading and credit transactions are growing.

Paper money, meaning the promise of a government to pay a set amount, and the paper promise allowed to circulate at will, was probably first used in China in the 12th century AD. At that time the merchants and governments of Europe were just writing letters to each other about what they owed.