Did you know that China created the first metal coins, created the first paper money, created the first fiat currency .. The world’s first currency not backed by precious metals – called the “Chao” – was created during the Yuan Dynasty (1271-1368) - 6 centuries before U.S. President FDR, China took emergency measures & seized gold - In order to prop up its fiat currency & prevent runaway inflation, the Yuan government attempted to prohibit all transactions in or possession of silver or gold, which had to be turned over to the government. washingtonsblog/2009/09/china-invented-every-single-major-form-of-currency-metal-coins-paper-money-and-fiat-currency-and-seized-gold-six-centuries-before-fdr.html
Posted on: Mon, 21 Oct 2013 04:26:17 +0000
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