The Ancients The Birth of Money
44 snips
Dec 19, 2024 
In this enlightening discussion, Alan Ereira, a TV producer, author, and history professor, unravels the profound impact of gold on civilization. He takes listeners on a journey from the Varna Culture's early use of gold to the revolutionary minting of coins by King Croesus. Ereira examines the intertwined evolution of trade and currency while detailing the first-ever financial crash in history. The conversation highlights how gold transitioned from a status symbol to a backbone of economic systems and its lasting legacy in today's financial landscape.
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Hammurabi's Sun Disks
- Hammurabi gave out gold "sun disks" in the second millennium BC, possibly the first gold payment to mercenaries.
- These disks had a specified value, but it was deliberately inflated.
Electrum for Trade
- Electrum bars, divisible like "chocolate bars," were used in trade in the late second millennium BC.
- Assessing electrum's purity was essential.
Aliates' First Coins
- King Aliates of Lydia created the first coins by stamping electrum tokens with his badge.
- This simplified trade and eliminated purity assessment.
