History of money in about three minutes: fish, chickens, shiny metal, paper that says "trust me", and two very expensive pizzas.
This is also the video where this channel stops yelling about politics and goes straight to the money.
A very rushed history of money: why barter was bad (not enough chickens), the first coins in Lydia, debasement and the first inflation, paper money in China, the Dutch East India Company and the first stock market, the end of the gold link in 1971, credit cards, and Bitcoin. Why does money have value at all? Because we all agree it does. Vibes.
In this video:
• Barter, fish and the missing chicken
• The first coins (around 600 BC) and debasement
• Paper money: "trust me"
• 1602: shares in the Dutch East India Company (and pepper dividends)
• 1971: bye, gold
• Credit cards, Bitcoin, and 10,000 bitcoin for two pizzas
• Why this channel is now about money
Not financial advice. I am a stick figure.
Sources: British Museum (Lydian coinage), Federal Reserve History (end of Bretton Woods, 1971), Bitcoin Pizza Day (May 22, 2010)
Chapters:
0:00 I quit politics
0:09 Barter and chickens
0:32 The first coins
0:56 Paper money: trust me
1:15 The first stock market
1:41 Bye, gold (1971)
1:57 Credit cards
2:07 Bitcoin and the pizzas
2:29 That's the channel now
#money #historyofmoney #moneyexplained
