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Before money came along…

Were we happier? What did we do? Did we just take a turnip? Or share it with the farmer?

Its interesting to think that money and all that is linked with finance hasn’t always been around. I can’t imagine medieval people nipping to the bank to see if they could extend their overdraft in order to purchase that horse and trap they’ve had their eye on. Or Roman businesses trying to find funding to expand their villa.

Bartering dates back over 100,000 years. There is no evidence to suggest that bartering was the norm but there were societies of gift based economics. If bartering did occur it was between strangers of enemies. As time proceeded countries produced commodity money such as the Shekel, which was originally a unit of weight. The first money was stamped and minted around 630- 650bc.

In England alone the types and amount of money that has been produced over hundreds of years is incredible.

The change over to the current system of money has only happen in the past 35 years.

Its also amazing to think that you could only go into a bank between Monday and Friday and certain times. Now with the introduction of Internet banking, it seems that banks are slightly redundant, although not really because we still skip in there whenever we need some business funding, withdraw cash, or to see our financial advisor.

I can now if I want, transfer money to an account at 2am on a Saturday morning with no problems, incredible.

With the innovation of card payments and chip and pin, people tend to carry less money, despite the rise in identity fraud and money theft from people accounts.

Will money become redundant? It’s a real concern of some people, although the mint continues to produce thousands of pounds, hoping to stimulate the economy some how.

 

 

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