What is a commodity?

[kenneth.mackendrick]

> 	"The economy is DEPENDENT upon the banking system"?  Do you really
> mean that?  Do you really mean production and exchange (and I'm only
> mentioning those two for a reason) would be impossible without banking?
> RSVP ASAP, please!

The economy here - in Canada - is dependent upon the banking system - why do 
you think the local banks pull in over a billion a year in profits?  From pentions, to 
social services, loans to investments, RRSP's to cheques, debit cards to 
mastercards, pay stubs to money transfers, travellers cheques to wire payments, 
bills (cable, phone, utilities, rent, insurance) to taxes, charities to non-profit 
organizations....  Right now the Canadian governmet works solely on loan.  Almost 
all major corporations have loans - because the interest rates are far lower than 
many of the more diabolical investments.  There is a thriving "underground" 
economy here that works on the barter system - but the accountants keep tabs on 
debits and credits.  I don't know if production and exchange are dependent upon 
banking - in themselves - but in this world - this economy - production and 
exchange are definitely highly mediated by the banking system.  If anyone is 
REALLY interested in going after one of the most destructive forces in the 
universe - look at the theory of money via the institution of banking.  Without a 
doubt the banks weild far MORE power, in terms of resources and ability to steer 
resources, than any other transnational.  GE can make all the guns it wants - but 
without a stock market, shareholder transactions, investments, pensions, payrole, 
and instantaneous transfers - it can do squat.  The Banks in canada and in the US 
have the ability to create money - the government handed it over in the seventies.  
It is not the mint that produces the new bills - it is the privately owned banks.  
THAT'S DEPENDENCE!!!!!!!!!
ken