Oct 20, 2026 · 1 hr 20 min · 10 segments
**Cal Washington joins us again to dive deeper into the world of sovereignty, commerce, rights and agreements. We discuss how easily it is to enter into agreements through the avoidance of…
Cal WashingtonGuest
Jason LokenHostCo-HostHost
All these merchants didn't want to carry their gold around because there was thieves and all.

It's something that probably started off quite benign but turned into something different when we went, hey, you know what?
Almost a mechanism of control.
It became a mechanism of control that they could exercise.

Yeah, so it's basically a piece of paper saying, I'm going to take the goods now, and I promise to pay you at this time.

So you'd have to have a contract with somebody in order for that to be binding, right?

correct but the contracts in law merchant were a lot more loosey-goosey there was agreements and tacit agreement and all these other things because we've always done it this way and i've always done it with you i don't have to have a written contract like and so there was honor they had to you know they had to deal honorably these merchants that that was you know how they portrayed themselves whether they actually were or not is anybody's guess i would guess not but um Yeah, so it was based on honor and your standing as a merchant.

Because if I gave a merchant wool and he gave me a note or a bill of exchange, it acted as money.

So when I wanted to go buy more sheep so I can get more wool, will you take this as payment from that guy over there who took the wool? Yeah.

All these merchants didn't want to carry their gold around because there was thieves and all.

It's something that probably started off quite benign but turned into something different when we went, hey, you know what?
Almost a mechanism of control.
It became a mechanism of control that they could exercise.

Yeah, so it's basically a piece of paper saying, I'm going to take the goods now, and I promise to pay you at this time.

So you'd have to have a contract with somebody in order for that to be binding, right?

correct but the contracts in law merchant were a lot more loosey-goosey there was agreements and tacit agreement and all these other things because we've always done it this way and i've always done it with you i don't have to have a written contract like and so there was honor they had to you know they had to deal honorably these merchants that that was you know how they portrayed themselves whether they actually were or not is anybody's guess i would guess not but um Yeah, so it was based on honor and your standing as a merchant.

Because if I gave a merchant wool and he gave me a note or a bill of exchange, it acted as money.

So when I wanted to go buy more sheep so I can get more wool, will you take this as payment from that guy over there who took the wool? Yeah.
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