A Brief History of Money

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In this episode of Keep Yours, we'll talk about the history of money and how currency as we know it came about. The information presented in this podcast intends to inform, educate, and help its listeners understand the financial system, claim their power, and keep what's theirs. 

How did the idea of currency come into existence? Why do we assign money value? Today we talk about a brief history of how modern currency came about.

“If tomorrow we all decided money was worth nothing, it would be worth nothing.”

In this episode:

  • Early bartering for goods and services [1:00]

  • Complexity of determining equal worth becomes unsustainable for bartering [6:00]

  • Money exists based on our shared agreement on its value [9:00]

  • Money is an exchange of value and is required for complex markets to work correctly [15:00]

  • The birth of coins through precious metals stamped with the seal of the king [18:00]

  • Las Vegas payouts in chips and why they have value [24:00]

  • The Gold Standard [29:00]

  • Basic principles: it’s convertible, we trust its shared value [32:00]

  • Is money the root of all evil? [36:30]

  • Free market decides value [41:00]

  • Value of Bitcoin is based on what? [43:00]

  • Gambling: how do they make money? [46:00]

  • Getting paid and paying in cash [52:00]