Tag Archives: Personal Finance

The History of Paper Money – Part 5: Working Out the Kinks

bank-of-england-banknote

Over the last few episodes, we’ve seen the intellectual underpinnings of paper money slowly come into place. But having nebulous ideas about why paper money might be good is one thing, getting people to really believe and to trust in it is another matter entirely. And so today we’re going to tackle the development of the one thing that brought

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The Gold Standard Explained in 1 Minute

gold-standard

Here is a short video produced by ‘One Minute Economics’ explaining the beginnings of gold minted for trade, the ‘Gold Standard’ and it’s eventual replacement with fiat currencies in 1971. Almost 2600 years ago, the first gold coins were minted and used for trade. Later on, people started storing there gold in well guarded vaults, and bought goods and services using

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