Discussion in 'Black Money Business Jobs' started by Shikamaru, Sep 30, 2011.
The term discount may seem peculiar. Definition is below.
A brief survey on the history of banking
The first banks were religious temples.
The first "bankers" were priests.
Over time the "bankers" became money changers. One who converts currency from form to another.
The first items of deposits were grains. Over time, such deposits became gold and silver coin of purity and weight.
And over more time from gold and silver coin to fiat currency.
Borrowers went from farmers to traders, merchants and then to everyone.
Banks make their money off contracts and negotiable instruments of both promissory notes and bills of exchange.
With respect to law banking has its roots in commerce (commercial law) as well as Admiralty/Maritime Law.
Here is a great short film about the federal reserve and the history of banking
The history of centralized banking goes back to 16th century Amsterdam as well as the foundation of the Bank of England.
Even further back than this is the coining of money as a sovereign prerogative exclusively in the hands of a prince, king, potentate, pope, or emperor.
The History of Banking
A History of Money and Banking in the United States: The Colonial Era to WWII
The Theory and History of Banking
Currency, Banking, and Exchange
Separate names with a comma.