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RE: LeoThread 2026-03-01 12-28

in LeoFinance2 months ago

Part 4/14:

Money’s primary role is to facilitate exchange, replacing the inefficient barter system. Throughout history, various items have served as money, from shells and feathers to tea bricks and pelts. Metallic metals, especially gold and silver, emerged as preferred forms due to their durability, divisibility, limited supply, and symbolic beauty. The U.S. dollar, established as the standard currency in 1792, was originally backed by gold and silver, embodying a “hard money” system that restrained inflation and speculative excess.

From Gold to Fiat: The Chronicle of American Currency