I checked the history (2000 years) of money in my country and a few others the other day, and it was hilariously similar. It went something like this:
- People bartered
- People started trading with copper coins, copper mining and coinage were hard work. Some kings managed and went on to have a healthy long reign. Some didn’t, some switched to cheaper and worse quality material, their economy collapsed. Next king went back to use copper for coins.
- One king mandated paper money, killed everyone who has coins and confiscated all coins and gold. People infuriated: “This is a piece of paper! No intrinsic value”.
- Said king printed too much money, hyperinflation, everything collapsed
- New king came into power, back to copper coin, hard work and rare material but things look good for a while for citizens
- Modern government came, kicked said king’s ass, do a paper/coin combination.
- Hyperinflation, said government cut a few zeros on the bank notes, confiscate all gold from citizens to fund wars.
- Said government got kicked by a new government. Rinse and repeat.
It’s almost a comedy, and utterly similar among the countries I’ve looked at. What’s the story of your country?
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