The history of money begins with governments creating it out of thin air... gold backed money comes much later as does privately issued money. This guy needs to read a book...
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The history of money begins with governments creating it out of thin air... gold backed money comes much later as does privately issued money. This guy needs to read a book...
The history of money begins with people bartering. I think someone else needs to read a book...
No it doesn't... where did you read that? Money starts with fiat money about 5,000 years ago in the middle east ... it was credit that kept track of debts between citizens in. There's no evidence of bartering in our history (despite what economist speculate in their textbooks)... there were complex systems of gifting goods between friends and family but no bartering (which is distasteful in most cultures). We went from fiat credit to coins around 250 BC when formal armies started to be formed.
Read a better book :p
Yes and history has proven that every time there is a crisis that barter system makes you reconsider what the value of some goods are.. for instance a roll of toiletpaper and tampons are worth much more when SHTF. Everything seems common and taken for granted until the music stops. Haven't drank the kool aid but nothing wrong with some extra water, rice, beans, ... in your personal stock.
Common now.. educate yourself a bit more on this matter. Up for grabs if internet visits you much 😊
'It was more than 5,000 years ago that primitive commodity money was used in Mesopotamia, and it's been over 3,000 years since metal coins began circulating. For more than 99.2% of human civilization, money actually meant something… right up until 1971 when Richard Nixon ended any remaining link between the dollar and gold.' *business insider
Mesopotamia used credit that was fiat in nature... not commodity money. They recorded debts on tally sticks (which could be traded much like bonds currently are). The debt wasn't backed by a commodity. Debt began to be backed by a commodity when coinage began circulating. Due to people confusing the coin which was meant to reflect a magnitude of debt with the wealth it represented. Both the original form of credit and the coinage that followed was fiat in nature. Free market money comes much later