Breve Historia del Dinero
Summary
TLDRThis script narrates the intriguing history of money, from bartering to the invention of coins in Lydia and the Roman Empire, to the exploitation of the Americas for gold and silver. It details the evolution of paper money and banking, the shift from gold-backed currencies to fiat money, and the pivotal moment when the US suspended the dollar's convertibility to gold in 1971. The script ends with a reflection on the speculative nature of modern finance and a poetic critique of the banking system.
Takeaways
- 😀 The script provides a brief history of money, starting from bartering to the creation of coins and paper currency.
- 📚 Initially, various items like cocoa beans, seashells, and feathers were used as currency in different cultures.
- 🏛 The Roman Empire paid soldiers with salt, which is where the word 'salary' originates.
- 🌍 In different regions, trade was conducted using local items like rice in the Philippines, dog teeth in New Guinea, and shells in Peru.
- 🏺 The first known coins were minted in modern-day Turkey over 2500 years ago, made of gold and silver.
- 👑 Kings and rulers minted their own coins, often adorning them with symbols and portraits.
- 📚 The term 'money' comes from the Latin 'denarius,' a widely used Roman coin.
- 💰 The invention of money made trade easier, allowing for transactions like selling chickens for coins and buying shoes with them.
- 🔱 Alchemists often deceived people by coating other metals with a thin layer of gold.
- 👨🦳 European monarchs and nobility needed gold to mint coins and expand their territories, leading to the exploration for gold by adventurers like Christopher Columbus.
- 💰 The gold and silver from the Americas facilitated an unprecedented accumulation of wealth and the birth of European capitalism.
- 📜 The Chinese invented paper money during the Tang dynasty, and banks were established to exchange gold for promissory notes or bills of exchange.
- 🏦 European banks began issuing notes in the late 10th century, with each nation printing its own paper currency.
- 🏦 The business of banks involves taking deposits and investing the money in various ventures, including high-interest loans, known as usury.
- 💵 The gold standard, where paper money was backed by gold, was disrupted by World War I, leading to the overprinting of currency without gold reserves.
- 💲 After World War II, the US dollar was established as the world's reserve currency at the Bretton Woods conference, with the creation of the International Monetary Fund.
- 📉 President Nixon's decision in 1971 to suspend the convertibility of the US dollar to gold marked a significant shift in the global economic system, leading to the current fiat currency system.
Q & A
What was the initial form of economy before the concept of money was established?
-The initial form of economy was based on barter, where goods and services were directly exchanged without the use of money.
What were some of the items used as a form of currency in different cultures before the invention of coins?
-Items such as cacao seeds, seashells, ivory, amber, and quetzal feathers were used as a form of currency in various cultures.
Why did the term 'salary' originate from the word 'salary' in Latin?
-The term 'salary' comes from the Latin word 'salarium', which was originally a bag of salt given to Roman soldiers as payment for their services.
Where were the first known coins minted, and what were they made of?
-The first known coins were minted in present-day Turkey over 2500 years ago and were made of gold and silver.
What does the word 'denarius' signify in Roman history, and how is it related to the modern word 'money'?
-The 'denarius' was a widely used coin in the Roman Empire, and the word 'money' derives from 'denarium', the Latin term for this coin.
Why did people start biting coins to verify their authenticity?
-People bit coins to check if they were made of soft gold or silver, as a way to ensure they were genuine and not counterfeit.
What was the main reason for European monarchs and nobility needing gold to mint coins and consolidate their territories?
-Gold was needed for minting coins to facilitate trade and commerce, and to symbolize wealth and power, which helped in consolidating their territories.
What was the primary objective of Christopher Columbus's voyages when he set sail to the New World?
-Christopher Columbus's primary objective was to find gold, as well as other spices like pepper, nutmeg, and cinnamon.
How did the accumulation of gold and silver from the Americas contribute to the development of European capitalism?
-The vast amounts of gold and silver from the Americas allowed for an unprecedented accumulation of wealth, which in turn gave rise to the development of European capitalism.
What was the significance of the invention of paper money in China during the Tang Dynasty?
-The invention of paper money in China simplified transactions and reduced the need to carry heavy metal coins, paving the way for modern banking and paper currency.
What event marked the end of the gold standard and the beginning of fiat money in the United States?
-The end of the gold standard and the beginning of fiat money in the United States was marked by President Nixon's declaration on August 15, 1971, suspending the convertibility of the US dollar into gold.
Outlines
📜 The Evolution of Money
The early human economy was based on barter, with various items such as cacao seeds, shells, and salt being used as money. The concept of salary originates from the Roman practice of paying soldiers with salt. Different cultures used diverse items as money until the invention of coins over 2500 years ago in Turkey. Coins were made of gold and silver and facilitated trade by providing a standardized medium of exchange. However, issues like coin counterfeiting and the heavy weight of carrying large amounts of coins led to further innovations in money.
💶 The Rise of Paper Money and Banking
In the 9th century, the Chinese invented paper money and banks, which significantly influenced global commerce. Europeans began issuing paper money in the 10th century, leading to a system where people deposited gold in banks in exchange for paper notes. This practice evolved into banks using deposited money for investments, including lending at high interest rates. The reliance on gold as a money standard persisted until the World Wars, when nations started issuing unbacked paper money. Post-World War II, the US dollar became the global monetary standard, with significant economic consequences.
📈 Financial Speculation and Economic Bubbles
Speculators in financial markets buy and sell stocks, driving prices beyond their real value and creating financial bubbles. Neoliberal policies have inflated the economy's perceived value, leading to economic instability. The script concludes with a quote from revolutionary poet Bertolt Brecht, emphasizing that founding a bank can be more criminal than robbing one, highlighting the deep issues in the financial system.
Mindmap
Keywords
💡Barter
💡Currency
💡Salarium
💡Coinage
💡Alchemist
💡Colonialism
💡Paper Money
💡Banking
💡Bretton Woods
💡Nixon Shock
💡Financial Bubble
💡Neoliberalism
Highlights
The evolution of money from barter system to various forms of currency throughout history.
Early forms of money included cocoa beans, seashells, ivory, amber, and quetzal feathers.
The Roman Empire paid soldiers with a bag of salt, from which the word 'salary' originates.
Different societies used unique items for trade, such as rice grains in the Philippines and dog teeth in New Guinea.
The first known coins were minted in modern-day Turkey over 2500 years ago, made of gold and silver.
Greek rulers minted their own coins, adorned with emblems and portraits.
In Rome, a 'denarius' was the daily wage, and the word 'money' comes from 'denarium'.
The invention of money facilitated trade, with chickens being sold for coins and the coins used to buy shoes.
Alchemists were often fraudsters who coated other metals with a thin layer of gold.
People would bite coins to verify their authenticity.
European nobility needed gold for minting coins and expanding their domains.
Christopher Columbus sought gold and spices in the New World, leading to the exploitation of the Americas.
Spanish and Portuguese invaders extracted vast amounts of gold and silver from American mines.
The Catholic Church was complicit in and benefited from the plundering of American resources.
The influx of American gold and silver led to the accumulation of wealth and the birth of European capitalism.
The Chinese invented paper money during the Tang dynasty, and banks started issuing notes in the 10th century.
European banks began issuing banknotes in the late 10th century, with each nation printing its own paper currency.
Banks operate by taking deposits and using the money for investments, including industries and stocks.
Gold was the standard for money, with bank reserves backing paper currency.
During World War I, nations began printing money without gold reserves, leading to inflation.
After the war, countries stored their reserves in the form of foreign currencies, particularly the British pound.
The Bretton Woods conference in 1944 established the US dollar as the world's reserve currency.
The US printed excessive amounts of dollars without gold backing, leading to European distrust.
President Nixon suspended the convertibility of the dollar to gold in 1971, marking a significant economic breach.
The value of the dollar became uncertain, as it was no longer backed by gold.
Speculators in the stock market can create financial bubbles by driving stock prices above their real value.
Neoliberalism has led to an economy based on speculation and inflated values, contrasting with the real economy.
The history of money concludes with the thought that founding a bank is a greater offense than robbing one.
Transcripts
[Música]
breve historia del
dinero capítulo
primero al principio la humanidad creció
y la vida se complicó la economía del
trueque Dando y dando era sencilla pero
a lo largo de la historia ha habido
muchas clases de dinero semillas de
cacao conchas marinas Marfil ámbar
plumas de Quetzal durante el Imperio
Romano era frecuente pagar los servicios
de los soldados con una bolsa de sal de
ahí viene la palabra
salario en Filipinas el comercio se
hacía con granos de arroz en Nueva
Guinea con dientes de perro en la India
con caracoles en Perú con conchas de
espóndilo hasta que se inventaron las
monedas las primeras monedas que se
conocen se acuñaron en la actual Turquía
hace más de
2500 años estaban hechas de oro y plata
en Grecia Los Reyes acuñaban sus propias
monedas y las adornaban con sus emblemas
y rostros y en Roma un denario un
denario por una jornada de trabajo la
palabra dinero viene del latín denarium
que era una moneda muy utilizada por los
romanos la invención dinero facilitó
mucho las cosas ahora el dueño de las
gallinas las vendía por unas cuantas
monedas y con esas monedas iba a comprar
zapatos o lo que quisiera las monedas de
oro o de plata valían por lo que pesaban
si tenías una moneda y la vaca valía
media moneda partí en dos la moneda
quien tuviera más dinero podía comprar
más cosas así fue que
apareció
El
alquimista la mayoría eran simples
timadores que bañaban las monedas de
cualquier metal con una capa fina de oro
los vendedores comenzaron a morder las
monedas Para estar seguros de que eran
buenas Los Reyes y la nobleza europea
necesitaban oro para acuñar monedas y
consolidar sus
dominios los salvó un aventurero llegado
de Italia llamado Cristóbal
Colón cuando Cristóbal Colón puso proa a
las nuevas tierras por el occidente del
mundo estaba buscando pimienta nuz
moscada
canela pero sobre todo buscaba oro oro
Oro oro
Oro el oro de
América así se le crónicas del Antiguo
México buscan oro como si fueran
monos tienen hambre furiosa de oro como
puercos hambrientos lo
desean pero no se sacian nunca los
lavaderos de oro en el caibe la mina de
Potosí en Bolivia la mina de ouro preto
en Brasil la de Zacatecas y Guanajuato
en México se calcula que Los Invasores
españoles y portugueses extrajeron de
las minas de América
185000 kg de oro y 35 millones de libras
de plata pura una cantidad difícil de
imaginar nunca en la historia de la
humanidad se había robado tanto en tan
poco tiempo bueno bueno robar lo que se
dice robar no eh Porque el papa el Papa
de Roma nos ha dado la bendición
amén la Iglesia Católica fue cómplice
directa y beneficiaria de este delito el
oro y la plata de América posibilitó una
acumulación de dinero nunca vista y dio
origen al capitalismo
europeo Y así fue como toda Europa se
llenó de oro con el oro se hacían
monedas y con las monedas se hacían los
intercambios
comerciales para los comerciantes era
pesado y peligroso andar de pueblo en
Pueblo cargando bolsas llenas de
monedas Cómo solucionar la incomodidad
de las
monedas los chinos tuvieron una gran
idea en el siglo ix durante la dinastía
Tang los chinos inventaron la moneda de
papel también se inventaron los bancos
que recibían el oro y entregaban pagarés
o letras de cambio los abuelos de
nuestros billetes
actuales a finales del siglo X los
bancos europeos comenzaron a emitir
billetes cada nación imprimió su papel
moneda libras esterlinas en Inglaterra
Francos en Francia Marcos en Alemania
coronas en Suecia liras en Italia antes
la gente iba al banco a depositar sus
monedas de oro y recibía billetes por el
valor de lo
depositado después la gente comenzó ir
al banco para depositar esos mismos
billetes Dónde está el negocio de un
banco Cuál es el
truco el negocio de un banco es que
mucha gente deposita sus ahorros en el
banco así puede jugar con ese dinero
cómo dice
jugar con mi dinero claro los banqueros
toman el dinero ajeno Y lo invierten en
Industrias en acciones de la bolsa en
otros
negocios y en el mejor de todos los
negocios sabe cuál es no sé la
usura prestar dinero con altos
intereses durante décadas el oro fue la
referencia del dinero el oro guardado en
los bancos era el respaldo del papel
moned pero llegó la Primera Guerra
Mundial Las Naciones en conflicto
necesitaban comprar armas y pertrechos
para las
tropas y comenzaron a imprimir papel
Moneda sin tener oro que respaldar esos
billetes después de la Primera Guerra
por exceso de billetes y de oro los
países comenzaron a guardar sus reservas
en forma de Divisas es decir las monedas
de las Naciones ricas que habían ganado
la guerra la libra esterlina es moneda
fuerte guarde su dinero en libras
esterlinas pero en pocos años estalló la
Segunda Guerra
Mundial para Estados Unidos la guerra
fue el mejor de los negocios se
enriqueció vendiendo armas y prestando
dinero con altos intereses a los países
que combatían en ambos bandos casi
acabada la guerra en
1944 en la conocida conferencia de
breton woods Estados Unidos impuso el
dólar como patrón monetario en esa
conferencia también se inventó el fondo
monetario internacional
controlado por Estados Unidos y
encargado de que el nuevo orden
económico se
cumpliera continuaba la guerra
continuaba el derroche y el gobierno
norteamericano hizo algo muy
peligroso Estados Unidos imprimió
billetes y billetes y más billetes sin
ningún respaldo en oro naturalmente los
países europeos comenzaron a desconfiar
de los dólares que tenían
guardados según Los acuerdos de breton
WS Estados Unidos tenía la obligación de
convertir dólares por oro en cualquier
momento y fue entonces en esa delicada
situación para Estados Unidos que entró
en
acción Richard Nixon el presidente del
watergate hizo una declaración
sorprendente el 15 de agosto de
1971 a partir de hoy suspendo la
convertibilidad del dólar con el oro
Estados Unidos no tiene obligaciones Con
nadie y eso qué
significa significa el mayor
incumplimiento cometido por un país en
toda la historia económica mundial y
significa que desde 197 un cuando a los
gringos se les acabe el dinero chin chin
chin le dan a la maquinita e imprimen
más dólares Pero explíqueme quién
respalda ese dinero que sale de la
maquinita gringa
nadie Pero entonces los dólares que yo
tengo guardados Qué valor tienen ninguno
son solo papelitos verdes y por eso ha
pasado lo que ha pasado en
[Música]
la bolsa es un mido de especuladores los
especuladores compran y venden acciones
haciendo que el precio de las mismas
suba muy por encima de su valor real así
se va formando la llamada burbuja
financiera El
neoliberalismo llevó a la economía del
planeta a una gran mentira multip hasta
por se veces el valor real de las cosas
en esta larga y compleja historia del
dinero que hoy llega a su fin me viene a
la mente una lúcida frase del poeta
revolucionario bertol bre el delito de
robar un banco no es nada Comparado con
el hecho de
fundar
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