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2501 BCE
THE HISTORY OF MONEY
Is hard to find the exact moment that the concept of money was invented.
It is believed that from very early times barter and exchange were the main way of trading goods and services. -
Period: 2000 BCE to 600 BCE
4000 AND 2600 YEARS AGO
Around 2500BC Ancient Egyptians were making metal rings which some historians think they used as money.
By 1100 BC in China, rather than exchanging objects.
In Lydia (now Western Turkey) between 700 and 600 BC the first coins, they were made of discs of electrum.
The first known gold coin was minted by Lydian king Croeses.
Aroun the same time in Chins the first paper money was being used. -
Period: to
400 TO 200 YEARS AGO
By 1600 AD europeans were using more and more metal coins.
Now coins and notes are only a symbolic represenation of these precious metals.
In 1685 Canadian colonies began to use paper money. -
MONEY TODAY
Because physical money is no longer directly linked to valuable items. Notes can no longer be exchanges for this precoius metals.
In the moderns world people use plastic cards called debit cards to pay for things. The cards transfers money from the banks account to the shop´s bank account.
People also use money they don´t even have yet by payng with credit cards. They then pay the money back later.
Economic boombs and crises happen when confidence increases or decreases.