From Barter To Bits – History Of Coin – Chapter[1.2]

NgeBlog Now - Lets commencement beak over how money evolved through this meaningful timeline infographics on origins of money.

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NgeBlog Now - If I inquire you lot how former is human history, you lot volition never live able to give an exact engagement together with fourth dimension because the bridge of recorded human history is roughly 5,000 years i.e. 30th Century BC.

NgeBlog Now - Humans living during Old Stone Age were generally hunters together with nomads amongst no organisation of writing or accounting (ledger recording). Their sole run of life was survival through hunting, gathering food, angling or scavenge wild animals.

NgeBlog Now - Since at that topographic point was no medium of telephone commutation (money) people would rather telephone commutation (barter economy) 1 production for about other nigh 9000 BC. Influenza A virus subtype H5N1 hunter would give about other hunter meat, rock axe or leather for an telephone commutation amongst a skilful of equal importance inwards value. Thus exchanging food for food, tool for tool together with clothing for clothing.

Barter merchandise was a existent goods telephone commutation organisation amongst perfect transparency together with no residue effects or distortions.

NgeBlog Now - But every bit fourth dimension passed together with humans grew wise, their lifestyle changed from that of hunting together with gathering to 1 of agriculture together with settlement. With Agricultural Revolution betwixt 8000 together with 5000 BC, most humans transitioned from a nomadic to a settled lifestyle every bit farmers living inwards permanent settlements inwards large villages.

NgeBlog Now - Humans living inwards large groups Pb to the job of “Coincidence of Wants”. One somebody having surplus nutrient together with looking for exchanging it for a tool, could do so only if at that topographic point was someone who could bring his nutrient for a tool. Thus this clash of wants introduced commodity economy every bit the commencement medium of exchange(money). Where instead of only exchanging a production for about other product, they started accepting a useful skilful such every bit wheat, grain or tabular array salt every bit commodity/money inwards telephone commutation for a production or service. That useful skilful could together with so after live used to purchase novel products.

At this fourth dimension money was recognized every bit anything that had intrinsic value (could live used every bit food, tool, or spent) together with store of value (kept every bit stock for a longer catamenia without loosing value).

NgeBlog Now - Examples of pop ancient commodities include agricultural products used fro micro transactions such every bit cotton, wheat, grain, seeds, salt, saccharide or dates. They could either eat it, store it for hereafter utilisation or merchandise it when inwards surplus.

NgeBlog Now - In fact the give-and-take “Salary” is originated from the give-and-take salt. In ancient Rome, Salary meant the amount of money allotted to a Roman soldier to purchase salt, which was an expensive but essential commodity.

NgeBlog Now - Domestic animals were also used every bit a commodity for macro transactions such every bit goat, sheep, horses, donkeys, pigs or cow. Same concept here: eat it / utilisation it, store it, or trade it.

Can you lot swallow Bitcoin or Paper or at to the lowest degree utilisation them every bit tools for industrial use? If no together with so I believe the prehistoric people were far smarter than crypto together with fiat enthusiasts today...

Like barter commodity based economic scheme was also a real goods telephone commutation system that broadened the merchandise possibilities. The transactions were instantly completed amongst perfect transparency together with amongst no residue effects or distortions (i.e. money could non live corrupted or faked).

NgeBlog Now - It was commodity economic scheme which commencement gave nativity to a free together with fair market amongst transparent circulation of wealth.

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NgeBlog Now - Near 1200 BC, humans started using Cowry Shells every bit to a greater extent than direct medium of exchange. Shell currency was commencement used inwards Communist People's Republic of China together with and so inwards societies living off the coast of the Pacific together with Indian oceans.

NgeBlog Now - Cowries were a pop medium of telephone commutation inwards Asia together with it was considered every bit money for every bit long every bit early on 19th century inwards India. Cowry also called “kaudi” inwards Bharat was used till 1805 which was together with so replaced past times the British East Bharat company which was 1 of the major causes of “Paik rebellion” inwards 1817.

NgeBlog Now - In western Africa, crunch money was a legal tender upwards until the mid 19th century. Western nations, through the slave trade, introduced huge numbers of Maldivian cowries inwards Africa.. Cowry was also called every bit the currency of the Kingdom of Kongo locally “nzimbu”.

NgeBlog Now - Cowries were smooth, shiny, portable, divisible, durable together with arguably rare at that time so they survived a much longer fourth dimension to live used every bit both currency together with jewellery.

Why Cowry Shells are no to a greater extent than used every bit Currency?

NgeBlog Now - Though cowry shells had most of the characteristics of money but they lacked true intrinsic value together with could live extracted easily from Indian sea over time. Currency looses its value when it is inwards abundant supply together with this was the argue why Cowry shells could non last long plenty together with were permanently replaced past times a much improve hard commodity that was extremely hard to extract (rare inwards nature) together with had unimaginable practical uses inwards centuries to come. Yes I am talking virtually Gold!

NgeBlog Now - Bitcoin worshippers oftentimes quote cowry shells to defend the zero intrinsic value of Bitcoin. Cowry could non last every bit currency because it lacked true intrinsic value, it had no other major utilisation except beingness used every bit a medium of telephone commutation or every bit jewellery. Like all bogus currencies it could live created on will past times breeding snails!

NgeBlog Now - Snails reproduce every six weeks throughout the year. Snails tin lay betwixt 30 together with 140 eggs at a time; that's nearly 480 snails a year! Thus 480 cowry shells inwards your pocket! Who said money tin non lay eggs? Because it did inwards the past times every bit humans are beingness fooled past times the elite fourth dimension together with fourth dimension again...

People stopped using cowry shells after it devalued due to increased provide together with peculiarly after everyone realized how for centuries they receive got been fooled past times the elite empires (especially during slave trade) to process these worthless shells every bit money.

NgeBlog Now - Thus ii wrongs does non brand 1 right. Both cowry together with newspaper is bogus money amongst null intrinsic value together with using them every bit defense strength to testify Bitcoin correct is the same brainwashing tactic beingness used past times the elites to keep fooling the layman.

NgeBlog Now - In 700 BC Gold together with Silver coins were commencement used inwards ancient Lydia (modern twenty-four hr catamenia Turkey) together with coastal Greek cities. It was a park State exercise to postage stamp the coins amongst pictures of gods together with emperors.

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It was this fourth dimension when mankind’s journey for finding the perfect currency finally ended.

NgeBlog Now - Civilizations which had abundance of Gold reserves together with skilful defense, e'er remained the super economies on the world together with this applies fifty-fifty to this engagement of 21st century.

NgeBlog Now - Gold is the ultimate stable currency together with the true wealth. Mankind strives so hard to detect (mine) it fifty-fifty to this engagement because it’s the only currency which is deflationary inwards nature together with does non loose its purchasing power fifty-fifty if you lot dig it underground for 5000 years. Gold volition e'er retain its truth worth for millenniums to come upwards cheers to its money characteristics together with chemical properties.

NgeBlog Now - Gold together with silvery is a perfect medium of exchange, shop of value, portable, durable, rare, unit of measurement of account, divisible, fungible together with which has a true intrinsic value. Most importantly you lot can’t counterfeit or simulate gilded using fifty-fifty the best of 21st century scientific discipline together with technology.

Guess what? Unlike printing Paper or forking Bitcoin, Gold can’t live created on will!

Who Invented Paper Money together with who Corrupted it?

The Chinese merchants during Tang Dynasty (618 - 907) invented paper money backed past times Gold/silver together with the Mongol Yuan Dynasty (1271 - 1368) corrupted paper currency (printing on will) past times creating fiat currency to overcome regime spending.

NgeBlog Now - In Communist People's Republic of China copper coins were designed amongst foursquare holes inwards the midpoint so that they could live carried on a string. People would together with so merchandise past times calculating the cost inwards strings of coin.

NgeBlog Now - For large macro transactions, every bit these strings of coins (gold, silver, copper) became heavy to carry, the traders would deposit the heavy strings of coins amongst a trustworthy agent (bank), who would tape how much money the merchant had on deposit on a slip of paper (banknote).

NgeBlog Now - This newspaper skid was a promissory annotation / claim check that could together with so live traded for goods or redeemed back for the strings of coins anywhere across china.

NgeBlog Now - These banknotes were generally inwards the cast of privately issued bills of credit or telephone commutation notes. In 1265, the Song regime officially introduced a national newspaper currency, which was backed past times silvery or gold.

NgeBlog Now - This gold-backed currency only lasted for ix years, every bit Song dynasty autumn to the mercy of Mongols inwards 1279.

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NgeBlog Now - The Mongol Yuan Dynasty issued its ain cast of newspaper currency called chao which was not backed past times gilded or silver.

NgeBlog Now - The Mongols started printing newspaper currency on will to overcome its growing regime expenditures. This was the commencement fourth dimension inwards human history when a government cheated its people past times printing to a greater extent than newspaper currency than its reserves of precious metals. This is when the commencement fiat currency was born.

NgeBlog Now - As the currency provide increased, its purchasing mightiness reduced so leading to run-away inflation. The Yuan dynasty could non last longer together with so collapsed inwards 1368.

NgeBlog Now - As fiscal crisis increased together with Chinese learnt the lesson of what happens when you lot “print newspaper on will”, the Chinese regime eliminated newspaper currency completely inwards 1455 together with wouldn't adopt it 1 time to a greater extent than for side past times side 5 hundred years (till 1890s). During that time, gold/silver was adopted dorsum every bit the currency of choice.

This Mongolian night exercise of printing newspaper currency on will, attracted the Devil’s oculus in Europe inwards 17th century!

NgeBlog Now - Goldsmiths inwards England were both money changers together with money lenders. Merchants would shop their hoards of gilded amongst the goldsmiths inwards 17th Century, who would together with so accuse a fee for providing that service. Just similar Chinese, the goldsmiths also issued promissory notes or claim checks certifying the quantity together with purity of the metallic deposited.

NgeBlog Now - The goldsmiths would charge no fee or fifty-fifty pay interest on the deposits, if the depositor allowed the goldsmith to relend on his behalf. The depositor’s gilded could live lended on interest to someone else looking for a loan.

NgeBlog Now - The promissory notes (banknote) were payable on need but the loans which were given past times goldsmith to his customers were repayable only over a longer fourth dimension period.

NgeBlog Now - This is the modern twenty-four hr catamenia trial of fractional reserve banking where you lot tin create a current account or savings account amongst the bank. The banks invests your money from the savings account past times giving you lot a monthly part of the turn a profit or provides you lot services past times charging you lot a fee on your current account.

Everything sounds fine so far, isn’t it? Of course of report non because the goldsmiths were liars together with cheaters!

NgeBlog Now - The goldsmith were supposed to create banknotes equal to the total amount of gilded deposited inwards their vaults. Not a receipt less or more, because every banknote was a hope from the goldsmith that each annotation is backed past times equal amount of gilded nowadays inwards his vault.

NgeBlog Now - The goldsmith knew that since depositors maintain their gilded amongst them for a longer fourth dimension catamenia similar for months or years, together with that they volition sure enough non all rush dorsum at once on a unmarried twenty-four hr catamenia to redeem the banknotes for their deposited gold, the goldsmiths started creating banknotes out of sparse air together with distributed them every bit loans to borrowers at an alarming rate.

The total loan given past times goldsmiths was oftentimes to a greater extent than than the actual amount of precious metals they genuinely had to dorsum it up. The loan was to a greater extent than similar a circular debt which when non paid dorsum on fourth dimension would maintain adding to a greater extent than burden on the borrowers shoulder.

NgeBlog Now - The borrower could utilisation the banknote to purchase goods together with services inwards the market, the seller of that skilful or service would willingly bring the banknote every bit a legal tender because everyone idea that these banknotes could genuinely live redeemed to gold on need every bit promised past times the goldsmith.

Thus that bogus banknote travelled from 1 goldsmith’s banking concern to about other goldsmiths bank. Both these banks would make fortunes on public’s money without fifty-fifty letting them know virtually how they were all scammed psychologically.

NgeBlog Now - Inspired past times the trickery of London goldsmiths, many individual banks started operating together with issuing banknotes amongst the same bogus promises.

NgeBlog Now - This night exercise of fiat banking fifty-fifty reached the States inwards 19th century. During that fourth dimension inwards USA at that topographic point were to a greater extent than than 5,000 dissimilar types of banknotes issued past times individual banks, each containing the mistaken hope that said: “repayable to the bearer on demand.”

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NgeBlog Now - Later only national governments were authorized to number banking concern notes.

In England the correct of issuing banknotes was granted to Bank of England inwards 1694.
In the United States, the Federal Reserve Bank took the accuse inwards 1913.

NgeBlog Now - Both US dollar together with sterling pound were partially backed past times precious metals together with were only theoretically repayable to the bearer on demand (redeemable into gilded or silver).

NgeBlog Now - The Goldsmiths (Bankers) did non halt poisoning the Gold standard which partially existed betwixt 1870-1930 AD.

NgeBlog Now - After Rothschild sponsored World War II ended together with using the artificially created Great Depression every bit an excuse, the banking elite gathered all leaders of 44 allied nations to create a to a greater extent than stable monetary system. This conference was called the Bretton Woods Conference which was held inwards the States inwards 1944.

The banking gods created ii novel institutions which are known every bit The International Monetary Fund (IMF) together with the World Bank.

NgeBlog Now - The world was promised that both these ii institutions are established alone to attain these mutual missions:

Eliminate extreme poverty,
Facilitate international trade,
Reduce unemployment,
Achieve greater financial stability,
Promote sustainable economical growth.

NgeBlog Now - But wait... these are just lollipops that the richest elite gives to the smaller countries to cash their emotions. Exactly same bogus promises are given past times crypto-gods to cryptocurrency holders to liberate them financially.

Through puppet institutions similar International Monetary Fund together with World Bank the richest countries inwards the world was given the correct to accommodate the affairs of smaller nations past times effectively depriving them of their economic autonomy. Examples of which tin live seen how 1 field is economically boycotted through blackmailing together with threats of economical sanctions.

NgeBlog Now - The recent examples of nations bullied past times IMF include the sanctions on Venezuela, North Korea together with Iran past times disconnecting them from the global fiscal organisation together with disrupting cross-border flows including merchandise finance together with remittances.

NgeBlog Now - Through Bretton Woods System the U.S. Dollar was established every bit the world's reserve currency because cheers to WW1 together with WW2, so much gilded had fled to USA from European countries that USA had two-third of all world gilded reserves.

The fellow member nations were promised that Uncle Sam’s dollar volition live backed past times gilded at a fixed charge per unit of measurement of $35 per ounce i.e. $35 = 28.3495 gram gold.

NgeBlog Now - All major world currencies were pegged to the dollar past times a fixed telephone commutation rate, spell the dollar itself was pegged to gilded at $35 per ounce, This weird currency human relationship was called (bogus) "The Gold Standard"

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NgeBlog Now - Due to the same poor habit learnt from the Goldsmiths, USA was printing to a greater extent than together with to a greater extent than dollars secretly together with would see it overseas to pay for regime expenditure on the armed services together with social programs.

NgeBlog Now - Dollar pegged charge per unit of measurement to gilded was no to a greater extent than $35/oz. cheers to worthless dollar bills spread all across the globe. Instead of accepting their mistake, USA blamed the unstable charge per unit of measurement on gilded beingness sold out at lower prices on costless marketplace seat together with dark markets. (I receive got discussed it inwards particular after inwards this chapter)

NgeBlog Now - When the fellow member countries started call for for their gilded past times redeeming dorsum the worthless dollar. Uncle Sam shocked everyone inwards 1971.

President Nixon cancelled The Gold Standard inwards 1971 together with seat the dollar on costless float telephone commutation charge per unit of measurement i.e. “Uncle Sam bluffed everyone together with volition no longer redeem U.S. dollar for gold!” . Not fifty-fifty fellow member nations could redeem dollar holdings.

NgeBlog Now - From 1971 onwards, the world's currencies were all floating, amongst non fifty-fifty a unmarried currency having a fixed value. Influenza A virus subtype H5N1 weird economical organisation that led to the establishment of unusual telephone commutation markets(Forex).

These costless floating currencies which leave of absence to this engagement are called Fiat currencies. Fiat currency is backed past times cypher but 'faith' inwards the government. Influenza A virus subtype H5N1 blind faith based on the bogus promises of the cardinal banks.

NgeBlog Now - The effect was such that inside side past times side 10 years, dollar devalued from $35/oz. of gilded to $800/oz inwards 1980.

NgeBlog Now - Foreign reserves of piteous countries got eroded. It was the greatest scam together with fraud on the world where the richest countries flooded the world fiscal organisation amongst worthless newspaper dollars. And this fraud continues to this date.

NgeBlog Now - On fifteen August 1971, Nixon issued Executive Order 11615 pursuant to the Economic Stabilization Act of 1970, unilaterally imposing 90-day wage together with cost controls, a 10% import surcharge, together with most importantly "closed the gilded window", making the dollar inconvertible to gold directly, except on the opened upwards market. Unusually, this determination was made without consulting members of the international monetary organisation or fifty-fifty his ain State Department, together with was presently dubbed the Nixon Shock.

NgeBlog Now - — Wikipedia

Behind every great depression, hyper-inflation, recession and panic at that topographic point is always the invisible hand of the Banker. Because none of these events occur naturally instead they are injected artificially to an economic scheme past times the banking elite for serving about fell agenda.

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NgeBlog Now - The biggest examples include the Great Depression of 1930s (caused past times bankers past times crashing stock market) together with Great Recession of 2008 (caused past times FED past times debasing dollar).

NgeBlog Now - When a nation’s money is given inwards command of few men (banks), poverty, hyper-inflation, unemployment together with chaos becomes the fate of that field together with its ripple effect also causes crisis inwards all other nations who depend on them for merchandise together with commerce.

NgeBlog Now - The life of every American is controlled past times the Federal Reserve Bank (FED) which is a privately owned bank. When the US Government fails to pay its national debt, they essay FED for help. FED together with so just creates virtual money out of sparse air past times typing few digits on a estimator concealment through a procedure called “Quantitative Easing”.

The American field owe a national debt of $21 Trillion every bit of 10th Apr 2018 which is increasing at a shocking interest rate of 190 Billion per year!

NgeBlog Now - Can you lot gauge what that means? It agency that every American from a kid to an adult, piteous to rich, human or woman, owe a total debt which is $64,579 per citizen, together with $174,191 per taxpayer....

NgeBlog Now - Wait it does non destination here... The US national debt is 110% higher than the total gross domestic product of USA which is just 19 Trillion.. If the American field fifty-fifty decides to pay this debt at $10,000 per second, it volition bring them 67 years to pay all the debt provided that at that topographic point is no involvement applied on the debt past times the FED....

Moral: The Americans are forever enslaved past times the never ending involvement rates imposed past times Rothschild together with Rockefeller.

NgeBlog Now - All nations receive got a national debt but few understand what it agency or who nosotros owe.

NgeBlog Now - Watch this slap-up sermon given inwards Sept 2003 past times Pastor Rod Parsley at Breakthrough Church inwards Columbus Ohio, where he explains inwards evidently English linguistic communication how Banks enslave together with control a field past times printing worthless newspaper currency.

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NgeBlog Now - Founding Fathers of USA, Thomas Jefferson warned the American field about 200 years agone virtually the consequences they volition human face upwards if they give the command of national currency to the greedy banks.

NgeBlog Now - "I believe that banking institutions are more dangerous to our liberties than standing armies,"

NgeBlog Now - "If the American people ever allow private banks to command the number of their currency, commencement past times inflation, together with so past times deflation, the banks together with corporations that volition grow up around(these banks) volition deprive the people of all belongings until their children wake upwards homeless on the continent their fathers conquered."

NgeBlog Now - "The issuing power of currency shall live taken from the banks together with restored to the people, to whom it properly belongs."

NgeBlog Now - — Thomas Jefferson (Third President of the the States from 1801 to 1809)

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NgeBlog Now - The ii oldest together with most vicious goldsmith families that has survived over 200 years together with all the same nowadays today are the Rothschild and Rockefeller families, who currently ain the biggest corporations of the 21st century together with receive got a cyberspace worth inwards trillions of dollars.

These banking elite print money, nosotros borrow it together with nosotros pay them interest. This is how it plant to this engagement since 1913 together with before.

NgeBlog Now - These are the same greedy dynasties who are at nowadays financing cryptocurrency together with blockchain startups through their park psychological fine art of deception to attain their agenda of a completely cashless society.

NgeBlog Now - Before discussing who just created bitcoin together with who is sponsoring it, lets commencement empathise why the banking elite abhor a monetary system backed past times gold!

Why am I discussing so much History?

NgeBlog Now - Because the master monetary history is never taught inwards schools or intentionally made complex to understand, it is censored inwards primary flow media together with without agreement it, you lot volition never acquire what receive got they planned 1 time they impose cryptocurrencies on all of us to snatch fifty-fifty that 10% of the financial freedom that nosotros currently enjoy.

NgeBlog Now - Now when you lot receive got read the thorough history of money from Barter to Bitcoin (cryptocurrencies), you lot are inwards a seat to empathise why the banking elite hates existent Gold.

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