The History of Paper Money – Origins of Exchange – Extra History – #1
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The History of Paper Money – Origins of Exchange – Extra History – #1 | BWG

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Giant stones sunk under the sea? Cows? Cowrie Shells? What do they all have in common? They were all money. Find out how we got from exchanging these … .

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50 thoughts on “The History of Paper Money – Origins of Exchange – Extra History – #1 | BWG

  1. Though it's been forgotten in modern fallout games, the reason Bottle Caps are used as currency, comes from the first 2 games, where bottle caps are backed by purified water. Clean water is rare enough that everyone wants it, and everyone needs it. And so everyone can go to the Hub and trade caps for equivalent value of water. And when more water is purified. The caps are reissued. This practice lead to people seeing caps themselves as valuable regardless of what backed them. Caps themselves are metal, impossible to counterfeit without the machinery destroyed in the war, let alone the knowledge of how to run them. And so they became the staple of exchange in fallout, when Bethesda bought the franchise, they carried this over to their East coast games, which isn't impossible. But unlikely. While long distance trade doesn't require vehicles, and it's actually shown in the games. The expansion of currencies typically takes far longer than what the games show. They show us in the first game caps really being only useful at The Hub, and in Fallout 2, they are used in most of the west coast, there being about 40 years between them. However, just 80 years after the second game, caps are universal over 3000 miles away?

  2. If we are all equal from the beginning of government, why does some people call themselves the government and not see everyone as equal ? These set of people who call themselves the government make citizens work for money, and they (government) just get the money whenever they want . Have you asked yourself this simple question ?

  3. Fiat currency becomes an abomination of real money when governments permit created wealth (measured in gold or silver or any other value equivalent), become detached from created wealth by the artificial creation of apparent but not real wealth. Think of adding water to your father's bottle of scotch each time you take a few ounces for your personal enjoyment. With the added water dad will never know. This trick is the true value of fiat currency.

  4. You should read Debt by David Graeber, he refutes the prehistory of money being based on bartering since there is basically no historical evidence that societies worked on the strict satisfaction of coinciding wants until after the invention of money and coinage.

  5. Day by Day quality of presentation is getting down.
    People are earning money through You tube.There are not educated and learned people on tube.Most of the time we get misleading information on YouTube.

  6. Starting early is the best way of getting ahead to build wealth, investing remains a priority. The stock market has plenty of opportunities to earn a decent payouts, with the right skills and proper understanding of how the market works

  7. 우리들이 하루 8시간 일하면서 얻으려고 그토록 X빠지게 뺑이치는 물건으로 변했는지 알아보겠습니다. 누가 번역한거여 ㅋㅋㅋㅋㅋㅋ

  8. Hmmm except this beautiful story of money evolving from trade and then to debt is probably wrong. To be fair it was a nice thought experiment that Adam Smith did when he envisioned it. But the truth is it doesn't really match up to the reality. The real history goes probably more like this: no trade society (primitive communism) -> debt exchange society (when someone needed something he just promised the other party that he would give the equivalent later) -> money trade society -> back into debt exchange society. So "paper money" (more like stone tablets money but the principle is almost the same) is actually probably the oldest form of money humanity used after it stopped to just borrow/give/share things.

  9. 1:30 the hypothetical here really shows why this is not something with much historic precedent (after all, what's the use of a thought experiment if you could provide a real world example?). the first chapters of david graeber's "debt: the first 5,000 years" goes in depth about how this notion of barter being widespread on a local level (as we do have evidence of barter between people from different communities/tribes/etc) is something that many anthropologists (graeber included) dispute. it's a farce that adam smith made up (no shade to him for that specifically, he was writing before comprehensive anthropology even existed) and has been repeated ad infinitum since then. really disappointing to see it here.

    edit: fixed the name of graeber's book

  10. I feel like Bitcoin is closest that modern man has come to the simple elegance of the "Yap" currency. It's big, hard to mine / create. It's not something we can see, but we have to keep a "memory" of who owns what.

  11. Money can easily dissolve in nature, but thousands of trees have to be cut down. But if we use thin plastic as money, then we are making that island made of plastic even smaller until it disappears and we can create our own plastic, but it will take a long time to dissolve. So the best alternative will be bioplastic. You can use up the plastic over time to create bioplastic and it can get recycled and made into brand new bioplastic money.

  12. I was told that every achievement begins with a decision to try. I never knew till I made 48BTC from trading with Manager Chris, Ignorance destroy so many opportunities,Am a greatful heart

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