The History of Paper Money – I: Origins of Exchange – Extra History



Giant stones sunk under the sea? Cows? Cowrie Shells? What do they all have in common? They were all money. Find out how we got from exchanging these things to doing 8 hours of work for…

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32 thoughts on “The History of Paper Money – I: Origins of Exchange – Extra History

  • Emmet1237

    (December 24, 2018 - 3:34 am)

    FIAT MONEY!!! REEE

  • SCCH Gibbs

    (December 24, 2018 - 3:34 am)

    The Spanish used playing cards at one point

  • Christopher Ellis

    (December 24, 2018 - 3:34 am)

    Not only paper, but certain kinds of plastic film.☆ there are some outdated assumptions about the past in here, but the main points are true enough. Marten pelts were used in Dalmatia in the Middle Ages. If there were too many, they were made into cloaks.

  • Miller Milizalock

    (December 24, 2018 - 3:34 am)

    "but if i dont WANT your STUPID FOOD."

  • Harijs Stirna

    (December 24, 2018 - 3:34 am)

    BTW money can be anything like in my kinder garden we used chestnuts as money

  • Little_Donny_PW

    (December 24, 2018 - 3:34 am)

    Greece watches The vid
    This is why i am broke

  • Ryan Kirby

    (December 24, 2018 - 3:34 am)

    Ok so i didn't see anyone say this, but money is made of gotten not trees, lol

  • DumbAnimator

    (December 24, 2018 - 3:34 am)

    Long story short,

    Humans are lazy.

  • Evan Friend

    (December 24, 2018 - 3:34 am)

    It's not just prisons and POW camps where cigarettes count as money. When I was in Iraq, I traded a friend of mine a carton of stateside cigarettes (my girlfriend would send me a carton a week) for a slingshot. Now, back stateside, that slingshot was worth like $10 as opposed to the $36 a carton of squares cost (oh how I miss those days. I now pay $76 for that same carton). But I survived a week on hajji squares, and that slingshot brought me immeasurable joy.

  • Sir Tarquin

    (December 24, 2018 - 3:34 am)

    2 years later the economy is going down the craper. the bond market has inverted (bond being government IOU's). looks like the gold bugs may have been right eh.

  • Rayhan Asyari

    (December 24, 2018 - 3:34 am)

    Jewish BANKER CONSPIRACY

  • Soviet Comeade

    (December 24, 2018 - 3:34 am)

    I couldn’t hear a thing because my cousin began blasting Ali a rip

  • Parker Coughlin

    (December 24, 2018 - 3:34 am)

    I FUCKING hate money

  • Michael Persaud

    (December 24, 2018 - 3:34 am)
  • Legit Potato

    (December 24, 2018 - 3:34 am)

    We still trade, you know. We trade hours for work for money — food for money — and so much more.

  • Jam Gaela

    (December 24, 2018 - 3:34 am)

    That coin story is lit!

  • Delon Duvenage

    (December 24, 2018 - 3:34 am)

    Gold and Silver is the only real money everything else is paper , bitcoin can't exist without electricity and the internet so it's also fake

  • B.H.P Productions

    (December 24, 2018 - 3:34 am)

    Yap backwards is pay

  • Anthony Emelue

    (December 24, 2018 - 3:34 am)

    article 13

  • xlg cys

    (December 24, 2018 - 3:34 am)

    Intersting so scarcity is built directly into the monetary system, scarcity lead to inequality therefore certain groups in the class devision that scarcity created will inhearantly lead to denied accesss to the relevent resources to acomplish survival. ahhhh so that why we have poverty. hmm them shady capitalists! We should have a non monetary system where everyone have access to the resources they require that way we don't have a whole host of negitivly impacting symptoms upon our selves and planet.

  • maynstagram

    (December 24, 2018 - 3:34 am)

    3:34 on a scale from 1 to smoking your cigarette backwards: how high is the dude on the right?

  • Juan Rodriguez

    (December 24, 2018 - 3:34 am)

    Oversimplified vs Extra History

  • J K

    (December 24, 2018 - 3:34 am)

    End the FED

  • Bruther

    (December 24, 2018 - 3:34 am)

    So I have some money in the ocean. Yeah you can't see it, but I promise it's there. It'll trade it for some fish. What, you'll take it? Great, thanks.

  • Micah Cao

    (December 24, 2018 - 3:34 am)

    Do a video of how people accepted small plastic cards to be like this important( ͡° ͜ʖ ͡°)

  • TheFlipityTwig

    (December 24, 2018 - 3:34 am)

    "I DON'T WANT YOUR STUPID FOOD"

  • KaiTheCarrotGuy '_'

    (December 24, 2018 - 3:34 am)

    This reminded me of that phineas and ferb episode were they went to a flea market and Candace wanted this thing, but she didn't have enough money so she asked if the owner wanted something, and then the person who owned that thing wanted something and so on and so forth, until she finally was able to get the thing she wanted

  • Kevin Downey

    (December 24, 2018 - 3:34 am)

    Just gotta say, EC is a really fun series. You do a great job at creating a not-as-simple-as-it-sounds narrative by addressing just the right points.

  • flippodynamics

    (December 24, 2018 - 3:34 am)

    Part 3 Bitcoin

  • Admiral Anger

    (December 24, 2018 - 3:34 am)

    weird flex but ok

  • RandomStuff

    (December 24, 2018 - 3:34 am)

    DOSH

  • Arsenic Poisoning

    (December 24, 2018 - 3:34 am)

    "but if I don't want your stupid food" -Dan from Extra Credits 2016

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