Who Doesn’t?

Well not everyone…

Tell you what, go get some salt.

Not that salt.

THIS SALT.

Now get lots of it.

That’s right, the more the better.

Now we need a time machine.

That will do.

Now set the year to around 6000 B.C. and hit 88 mph.

Congratulati ons you are a mill ionaire!!

Not what you were thinking?

CHECK IT OUT, SALT WAS THE

FIRST FORM OF MONEY.

It was considered a commodity and valued by everyone.

So why do you value paper and metal now?

Well coin money is at least precious metal but where did it start?

It started here.

Lydians were the first to use metal to create coin money.

So why do you value a piece of paper?

Is it because you are told to?

In that case give me your cash and rocks are the new currency.

Or not.

China was the first to use paper money.

Paper money is considered to be representation money.

This means the money itself is not made of something valuable.

At first paper money was backed by silver or gold.

This created the gold standard.

Not that one

muscle head.

That’s more like it.

Representation money has now been replaced by fiat money.

Not that Fiat.

That is your third strike.

But don’t leave.

There is more to learn.

Fiat is the Latin word for "let it be done".

Money is now given value by a government fiat, meaning

enforceable legal tender laws.

March 10, 1862

That was the day the United States first issued paper money.

So where did the money sign come from?

You don’t know?

Neither does anyone else!

HISTORIANS THINK THE MONEY SIGN ORIGINATED FROM THE SPANISH OR MEXICAN “P” FOR PESO’S.

A study of old manuscripts showed that the "S," gradually came to be written over the "P," looking very much like the “$" mark.

What does the future hold for money?

Could these be the future and eventually replace currency?

You will have to wait and see.

Now you know a little history of what is in your wallet and purse.

Just think if salt was in it instead.

Reference

The History of Money by Mary Bellishttp://inventors.about.com/od/mstartinventions/a/money.htm