History of the Money
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| History of the Money |
Money has never been loyal to anyone, but from beggar to billionaire, everyone wants to have it. It's not just a piece of paper; it's an addiction. He transformed hunters into blacksmiths, merchants, and kings. It was money that forced these forest dwellers to live in these tallest structures. But where did the power of money come from? How was it made? When? Why? And what is money?
Paper Money
Money is a piece of paper that has no value of
its own. It just tells us the value of other things. We work day and night for
it, but in the end, we give it to others. We can buy what he has, and then that
person gives the same money to someone else. So in this way, he can buy what he
likes. From here to there, money travels around the world. Do you know how much
money is in the world right now? What you can see is 60 trillion dollars, and
what you can't see is 2000 trillion dollars, or 1.33 quadrillion dollars. Where
did all this money come from? Who made it?
Come with me on such a miraculous journey. We
will learn a story about money that you have never heard before. We're going to
know all the things you never thought of before. Today From stones to gold and
silver coins, such money is invisible. How did it become a language that
everyone in the world understands? How this lifeless thing made us slaves. So
let's go back 15,000 years when there was no sign of money. This was the time
when humans lived in small tribes.
They all had the same goal: to hunt and
survive, but prey is not always easy to come by, and hunger strikes every day.
It was hunger that forced one tribe to take something and give it to another
tribe. "If you give us fresh meat, we will give you our weapons."
Both have benefited from this transaction because if you take something
forcibly once, you will get it but not the second time.
The Barter System
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| The Barter System |
The barter system was born out of giving and
taking. The barter system is said to have originated somewhere among the
Mesopotamian tribes. Mesopotamia is the name of a region in southwest Asia that
includes what is now Iraq. This is where the Mesopotamian tribes used to live.
The barter system changed us. People who used to fight each other now live
together.
Everyone started trading with each other, and
thousands of years later, when the population of people increased and, apart
from hunting, they started farming, the shortcomings of the barter system
started to come to light. It was hard to remember when trading with so many
people. Who gets what, and who gives what? To remember this, we started writing
on small pieces of clay, which started accounting. We started accounting for
things. But the problems of the barter system were not going away.
The biggest problem was that both parties had
to agree to trade. You want what I have, but I don't want what you have.
Because of this, trade could not be done. It became very difficult to trade
through the barter system. We now desired something that everyone desired. And
thus money was born. It's not the money you're thinking of; it was commodity
money.
We monetized everything rare, which we also
used. And everyone was willing to trade by this, including a cow, buffalo,
goat, ax, knives, thieves, an arrow, and a sword. Animal skins Tobacco, salt,
peacock feathers, whale teeth, alcohol, cowry shells, and even humans Yes, it
was common to use slaves as money at that time. On Yap Island, people used to
use big, donut-like stones that used to weigh up to five tons. They are called
Rai Stones.
Once they were placed, they stayed there
forever. They just remembered who it belonged to. Commodity money made our
lives easier. But it had a big problem: It was very difficult to know what the
value of what I had was. Each commodity seemed to have its own distinct value.
And now we wanted something valuable that would last a long time, such as animals
and alcohol. Metallic money began in Ancient Greece 2600 years ago today. Gold
and silver were mixed to make coins with lions and bulls on them.
Introduced Coins
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| History of the Money |
People used to get only two coins after working
day and night; they did not even get food from them. Look carefully this is the
first coin in the world. The Lydian Stater. It is said that the coins were
first introduced by the Chinese in 1000 B.C. They used to make brass and copper
coins, but it was not necessary to use them like the Lydian Stater. After the
Lydian Stater, everybody started making coins. The king of each empire started
minting coins in his name.
Everyone started using coins because it was so
simple to trade with them. But if you look at it in a certain way, metal
money was also considered a commodity. If the coins are fewer, it's not an
issue, but if they are more, then their biggest problem starts to appear. It
was 500 BC. It was a time when overseas trading was booming. And all this trade
was done in coins. But the more coins there were, the more they weighed, so,
due to their heavy weight, they also took up more space in the ship. It took a
long time to transport them.
Due to this, the risk of coins being stolen
increased a lot. It's easy to count coins, but who will count this many coins?
Now we need something lightweight that we can easily shift, store, and count.
There is a very famous saying: "Everybody likes progress, but nobody likes
change." Everyone wants to progress, but not everyone wants to change. The
paper money Emperor of Mongol China and grandson of Genghis Khan, Kubla Khan
made the world's first paper money from the bark of a tree. People dislike
change, and why should they? Kubla Khan used to give these people only a piece
of paper in exchange for their precious, sparkling diamonds.
Anyone who refused to accept Kubla Khan's paper
money, on the other hand, would have been executed. It was paper money, but it
says, "I owe you a debt." You take this paper and come to get your
gold coins whenever you want, and people wondered why it had to be changed into
gold and silver. Just trade this paper. And like the coins, this idea began to
spread outside of China. Unknowingly, such power was about to begin, which made
it impossible to stop. And the banks wielded that power. Because of paper
money, international trading increased to this extreme. I. O. U. means that
paper money from that time is now available to everyone.
Here are some people who were hungry for money.
They took the people's gold coins and gave them to them. I.O. U's But the I. O.
U. was something they could print as much as they wanted. The people also
started taking that paper money because they were afraid of gold coins being
stolen. You know how a bank makes money: by lending. And now that the mini bank
has started lending IOUs to those people Due to this, paper money became
abundant in the city. Something came out, which is called inflation. What was
once worth one IOU has now become worth ten IOUs.
That bank did not have as many gold coins as
there was paper money in the entire city. When people found out that the price
of their IOU was going down, they ran to that bank to get their gold coins. But
that bank had nothing to give to all of them. People lost their trust in banks
for many years; no one even thought about them. Now they have started hiding
their gold coins in their house. Due to this, the circulation of money was
greatly reduced. And many problems started to appear.
In 1816 Britain brought a new law that we will
print money as much gold as we have Which will not cause inflation and debt
also be given in a limit, This is called bringing paper money to the gold
standard, soon all the countries began to limit their paper money to the gold standard.
Eventually, the USA adopted the gold standard in 1900. It cannot be denied that
money was made. It brought with it a thing that is impossible to avoid, and
that thing is greed for money.
It doesn't matter how much you have, you always
want more. If you have 100 crores, why wouldn't you want to have 1000 crores?
It doesn't matter how much money we have, we always want a little more, just a
little more. And in this little cycle, paper money was going to make such a
turn. After which it was impossible to stop If the country has more money
inflation occurs a Rise in Prices which is harmful But If the country has less
money. There is deflation which is even more harmful in the 1930s: The USA was
in the Great Depression because of deflation (low prices).
Paper Money Introduced
Things were so cheap, and the companies were
not making enough money to pay their employees. Which caused the economy to
crash People had neither money nor jobs, and the solution in 1933, President
Franklin D. Roosevelt ended the relationship between the dollar and gold. Now
all that was there was paper money, and now the banks had their power back and
knew how to take advantage of it, and that power is printing money. Do you know
what happens with more money America established the Federal Reserve System to
control inflation? Which regulates that there is neither more nor less money in
the country.
The dollars you could convert into gold which
was an I. O. U for you And now it become only a piece of paper. It is what it
is it’s just a worthless piece of paper. It has no value and now it became Fiat
Money You think that only the dollar is fiat money. No, all the currencies of
the world are. It doesn't matter if it's Pakistani or Indian.
All these currencies are Fiat Money All these
pieces of paper are not backed by gold or any physical common do we buy
everything if this piece of paper is worthless? From it? Because we just
believe that we will get something in return what lies in your banks, Wallets,
and lockers is only trust, not money the value of which is decreasing day by
day due to inflation.
Paper money had eased many of our difficulties
It could be easily counted, handled, and carried anywhere—something that was
much needed in this fast-changing world. That thing was speed Paper money can
be easily carried but it also takes time. Now we need something By which we can
transfer money to another in a few nanoseconds And E - MONEY was launched in
the 1980s Digital Money Millions and Billions of transactions in just a few
seconds No fear of being stolen, no need to count And so the banks don't even
have to print anything anymore Just type some numbers on the computer and the
money is made.
The truth is that we cannot live without
digital money in the world of speed. We can buy everything from the comfort of
our homes with just one click Digital money travels from one corner of the
world to another in less than a second. But digital money also has a huge
problem Hacking It is difficult to hack, but not impossible, And far from this
thing such money launched in 2009 which is impossible to hack I am talking
about cryptocurrency.
You must have heard the name BITCOIN Credit
cards, Checks, and Online Payments All this is done according to the rules and
regulations of the government But Bitcoin is money that has nothing to do with
the government Nor is it connected to any Fiat Money (Paper Money) What is
there are just some numbers We know only the name of the creator Satoshi
Nakamoto (Nothing else) Due to the non-applicability of any government rule on
it.
BitCoins
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| History of the Money |
Now whether this is a scam or a real get-rich
scheme only time will tell but once look back at this world. How much this
world has progressed in such a short time? In just a few thousand years we went
from gold and silver coins to invisible money. We made this money for our
benefit but maybe we are losing it you work at some place from dawn to dusk.
What you get at the end of each month is simply some pieces of paper or numbers
displayed on the screen you have to understand that the world runs on trust,
not money.
What we see is nothing but an illusion now the
question arises "What should we do? Money is a part of our life First of
all you have to recognize real money. There is only one way to recognize real
money something that increases in its value over time is Real Money. The value
of paper money decreases every year due to inflation truth be told, this cycle
is never going to stop but you can avoid this thing by investing in real money which
has value in itself.
You know that no matter how much money there is
in this world if all of it is shared equally among every person that money will
go back to where it came from But Why? Because all the rich people in this
world understand and know it. They don't work for money, but money works for
them, and the day you understood it your life will be changed forever before
doing all this you need to educate yourself financially.
The time you waste cursing the government and
inflation Spend the same time on your financial education. Because nothing is
going to change you have to change yourself. The more you learn, the more you
earn.
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