Discussion - A Brief History of Money

Discuss “A Brief History of Money” below.

So maddening to see how the massive majority have no input on the debasement of official currencies, yet are affected the most by it.
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Ad. "Barter Exchange"

I am not a specialist, but I heard that the Barter Economy is probably a myth. Apparently some anthropologists couldn’t find any proof of such economy. Among others, David Graeber should have written about it (Debt - Updated and Expanded: The First 5,000 Years ). Here two articles I found in the web. Maybe it will be interesting for you, too…


Barter to money to currency throughout the ages! :money_mouth_face:

Fully agree with you, barter might be done occasionally, but cannot build up an economy. An economy is a big word. If there is no track in history of a case of economy based on barter, that is probably the way we like to imagine the prehistorical time, just because we really do not anything about those extremely ancient times and we think that “should” be happened.

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Yup I agree here. It is virtually impossible to “build an economy” based on barter, for which reason until any means of money was invented, there wasn’t even much “economic activity” going on. The invention of money enabled to forming of increasing trade and first instances of small economies.

It is funny how history repeats itself, but always with a bit of a twist. We do have debasement of our own. Is just with some of a twist.

The debasement of money is happening right now with the excess printing (quantitative easing) of the existing fiat money supply.

There was also a system called the Tally system which was a foot long split piece of wood that would have either a contract or monetary value on both sides (you can’t forge a split piece of wood). This was also used as currency so I believe.
Also the first bankers in Europe were the knights templar originally working with the vatican in the 11th or 12th century I think. You could deposit gold etc with them eg if you were planning on a pilgrimage to the holy lands (jerusalem). You would receive a receipt for your deposit that was exchangeable with another Templar Bank, which meant you were less at risk of being attacked and robbed of your money whilst on route. They were eventually rounded up and killed by the king of France, and I read this was because they were becoming too powerful and a threat to the church! Some were rumoured to have excaped to Switzerland creating the famous banking system there, as well as other places.
The other thing I read many years ago were that the Jews had been kicked out of England as they practiced Usury (the charging of interest on loans) which was at the time against Christian law. the king used the tally system to run internal affairs, but needed Gold for international trade and as such allowed the jews back in as they had gold so long as he got a cut of the profits gained from those unable to repay their debts to them. I cannot unfortunately remember where I read that (it was 30 years ago!)