{"id":5984,"date":"2015-02-24T19:34:19","date_gmt":"2015-02-25T00:34:19","guid":{"rendered":"http:\/\/olduvai.ca\/?p=5984"},"modified":"2015-02-24T19:34:19","modified_gmt":"2015-02-25T00:34:19","slug":"us-governments-new-rule-allows-banks-to-completely-make-sht-up","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=5984","title":{"rendered":"US government\u2019s new \u2018rule\u2019 allows banks to completely make sh*t up"},"content":{"rendered":"<h3 class=\"headline\"><a href=\"http:\/\/www.sovereignman.com\/offshore-banking-2\/us-governments-new-rule-allows-banks-to-completely-make-sht-up-16153\/\" target=\"_blank\">US government\u2019s new \u2018rule\u2019 allows banks to completely make sh*t up<\/a><\/h3>\n<p>In 1494, a 47-year old Franciscan friar named Luca Pacioli invented something that was revolutionary.<\/p>\n<p>Pacioli was, in fact, a friend and contemporary of Leonardo da Vinci, and the two collaborated frequently.<\/p>\n<p>So you\u2019re probably guessing that Pacioli was a co-designer in Leonardo\u2019s famed flying machine, or a new architectural technique.<\/p>\n<p>On the contrary.<\/p>\n<p>Pacioli\u2019s invention was the double-entry accounting system; in fact he\u2019s known by bean counters today as the father of accounting.<\/p>\n<p>This was a major and much needed innovation at the time.<\/p>\n<p>In the 15th century, Italy was dominating global trade and commerce.<\/p>\n<p>Yet unlike in the centuries before where merchants were primarily transporters and traders of exotic goods, 15th century merchants had essentially become proto-bankers whose primary business was extending and trading credit.<\/p>\n<p>This was a major change in the way that business was done, and it absolutely demanded a new way to keep track of it all.<\/p>\n<p>That\u2019s exactly what Pacioli invented. And his system of accounting is still being used today, over 500 years later.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>US government\u2019s new \u2018rule\u2019 allows banks to completely make sh*t up In 1494, a 47-year old Franciscan friar named Luca Pacioli invented something that was revolutionary. Pacioli was, in fact, a friend and contemporary of Leonardo da Vinci, and the two collaborated frequently. So you\u2019re probably guessing that Pacioli was a co-designer in Leonardo\u2019s famed [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[3758,61,3760,3761,3759],"class_list":["post-5984","post","type-post","status-publish","format-standard","hentry","category-economics","tag-accounting","tag-banking","tag-double-entry-accounting","tag-global-trade","tag-luca-pacioli"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5984"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5984\/revisions"}],"predecessor-version":[{"id":5985,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5984\/revisions\/5985"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}