经济学人140:淘金热 一本关于我们囊中物的优秀指南

　　How money works
钱是如何运作的
Gold rush
淘金热
A good guide to the stuff in our pockets
一本关于我们囊中物的优秀指南
Money: The Unauthorised Biography. By Felix Martin.
金钱：非授权自传》。作者：Felix Martin。
ONE story in this surprisingly entertaining book on the nature of money is about the Irish banking¹ crisis. The country's bank system ground to a complete stop, with branches closed, the clearing system suspended and customers unable to withdraw or deposit money. As cash ran out, people had to find a way of paying their regular bills, or even just stumping² up for a pint³ of stout⁴ in a pub. What actually happened was that businesses started accepting IOUs or cheques for everything, even though there was no telling when the cash would be forthcoming. It helped that a lot of Irish life is lived locally: builders, greengrocers, mechanics and barmen all turned out to be dab⁵ hands at personal credit profiling.
这本关于金钱性质的书出乎意料地有趣，其中一个故事与爱尔兰银行危机有关。爱尔兰的银行系统完全瘫痪，各分行全部关闭，清算系统被暂停，顾客无法存取款。在现金用完后，人们不得不想办法支付日常账单，就连在酒吧为一品脱烈性黑啤埋单也是如此。结果商家开始接受欠条或支票，虽然没人知道现金何时会来。还好爱尔兰人的生活起居很大程度上都可以在当地解决：建筑工、零售店主、机械师和酒保摇身变成了个人信用建档的行家 。
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In short, Ireland developed a new class of money. Its currency was not backed by any central bank, but based solely⁶ on informal if surprisingly accurate credit scoring. And the currency was transferable: if certain people said the bond was good, then the bond was good.
总之，爱尔兰发展出一种新的钱种类。其货币不被任何央行支持，仅仅基于非正式却出奇准确的信用记录。并且这种货币是可流通的，如果某些人说债券有效，那么债券就有效。
This particular Irish banking crisis might seem vaguely⁷ familiar, but only vaguely. It took place more than 40 years ago, when the Irish financial sector⁸ came to a seven-month halt as a result of a national labour dispute. The point of the story is that it supports two of the author's main contentions—first that money is not currency and that sovereign support for currency is not particularly important, and second that financial crises are endemic. No sooner has the last one been put to bed than the next is waking up.
这个奇特的爱尔兰银行危机听起来可能隐约有些熟悉，但也只是隐约而已。那次危机发生在40多年前，当时爱尔兰金融业因全国劳动争议瘫痪了七个月。讲这个故事是因为它支持了作者的两点主张——第一，钱不是货币，并且主权对货币的支持并非特别重要；第二，金融危机是普遍的，刚刚解决一个危机，另一个危机又出现了。
For some people, money is merely something underwritten by the state and designed to enhance a basic barter⁹ economy. Felix Martin, an economist¹⁰ and fund manager, goes further. Early societies, such as the Babylonians and the ancient Egyptians, were static, with a fixed¹¹ hierarchy¹² of social obligations. They had no need of money or currency. Money was the instrument through which later societies unshackled themselves from preordained social orders and became individualistic.
对于一些人来说，金钱仅仅是国家担保的东西，用于增强基本的物物交换。经济学家、基金经理Felix Martin对金钱的理解更进了一步。早期社会，例如巴比伦和古埃及，是静止的，每个阶层承担的社会责任固定不变。这些社会不需要金钱或货币。金钱将之后的社会从上天安排的社会制度中解放出来，变为个人主义。
With money came speculation¹³, bringing in turn those endemic financial crises. To ensure greater stability, Mr Martin would like to see the introduction of an ultra-simple version of “limited-purpose banking”. Money must be “shorn of its specious¹⁴ promise” he says; let the state underwrite a tiny core of deposit-taking banks. Everything else—from interest-rate derivatives¹⁵ to collateralised debt obligations should carry on unregulated and uninsured. If you lose your dough¹⁶, tough. You knew the risks. It is a solution that will attract anyone seeking a clean, clear, fair way of managing financial markets. Until they lose their money, of course.
有金钱就有投机，有投机就有普遍的金融危机。为确保稳定性，Martin希望引入超简版的“限制用途银行”。他说，必须“去除”金钱“似是而非的承诺”；让国家为储蓄银行极少的核心业务担保。其他业务—从利率衍生工具到债务抵押债券—应继续不受监管，不受保护。如果你输了钱，糟糕。不过你本来就知道风险的。这个解决方法会吸引寻求以干净、清楚、公正的方式管理金融市场的人。当然在他们自己输钱以前。

1 banking   

n.银行业，银行学，金融业

参考例句：

• John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
• He possesses an extensive knowledge of banking.他具有广博的银行业务知识。

2 stumping   

僵直地行走，跺步行走( stump的现在分词 )； 把（某人）难住； 使为难； （选举前）在某一地区作政治性巡回演说

参考例句：

• She's tired of stumping up for school fees, books and uniform. 她讨厌为学费、课本和校服掏腰包。
• But Democrats and Republicans are still dumping stumping for the young. 但是民主党和共和党依然向年轻人发表演说以争取他们的支持。

3 pint   

n.品脱

参考例句：

• I'll have a pint of beer and a packet of crisps, please.我要一品脱啤酒和一袋炸马铃薯片。
• In the old days you could get a pint of beer for a shilling.从前，花一先令就可以买到一品脱啤酒。

4 stout   

adj.强壮的，粗大的，结实的，勇猛的，矮胖的

参考例句：

• He cut a stout stick to help him walk.他砍了一根结实的枝条用来拄着走路。
• The stout old man waddled across the road.那肥胖的老人一跩一跩地穿过马路。

5 dab   

v.轻触，轻拍，轻涂；n.(颜料等的)轻涂

参考例句：

• She returned wearing a dab of rouge on each cheekbone.她回来时，两边面颊上涂有一点淡淡的胭脂。
• She gave me a dab of potatoes with my supper.她给我晚饭时，还给了一点土豆。

6 solely   

adv.仅仅，唯一地

参考例句：

• Success should not be measured solely by educational achievement.成功与否不应只用学业成绩来衡量。
• The town depends almost solely on the tourist trade.这座城市几乎完全靠旅游业维持。

7 vaguely   

adv.含糊地，暖昧地

参考例句：

• He had talked vaguely of going to work abroad.他含糊其词地说了到国外工作的事。
• He looked vaguely before him with unseeing eyes.他迷迷糊糊的望着前面，对一切都视而不见。

8 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。

9 barter   

n.物物交换，以货易货，实物交易

参考例句：

• Chickens,goats and rabbits were offered for barter at the bazaar.在集市上，鸡、山羊和兔子被摆出来作物物交换之用。
• They have arranged food imports on a barter basis.他们以易货贸易的方式安排食品进口。

10 economist   

n.经济学家，经济专家，节俭的人

参考例句：

• He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
• He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。

11 fixed   

adj.固定的，不变的，准备好的；(计算机)固定的

参考例句：

• Have you two fixed on a date for the wedding yet?你们俩选定婚期了吗？
• Once the aim is fixed,we should not change it arbitrarily.目标一旦确定，我们就不应该随意改变。

12 hierarchy   

n.等级制度；统治集团，领导层

参考例句：

• There is a rigid hierarchy of power in that country.那个国家有一套严密的权力等级制度。
• She's high up in the management hierarchy.她在管理阶层中地位很高。

13 speculation   

n.思索，沉思；猜测；投机

参考例句：

• Her mind is occupied with speculation.她的头脑忙于思考。
• There is widespread speculation that he is going to resign.人们普遍推测他要辞职。

14 specious   

adj.似是而非的；adv.似是而非地

参考例句：

• Such talk is actually specious and groundless.这些话实际上毫无根据，似是而非的。
• It is unlikely that the Duke was convinced by such specious arguments.公爵不太可能相信这种似是而非的论点。

15 derivatives   

n.衍生性金融商品；派生物，引出物( derivative的名词复数 )；导数

参考例句：

• Many English words are derivatives of Latin words. 许多英语词来自拉丁语。 来自《简明英汉词典》
• These compounds are nitrosohydroxylamine derivatives. 这类合成物是亚硝基羟胺衍生物。 来自辞典例句

16 dough   

n.生面团；钱，现款

参考例句：

• She formed the dough into squares.她把生面团捏成四方块。
• The baker is kneading dough.那位面包师在揉面。