The World's First Paper Currency: Ancient China
Where did paper money come from? Despite it seeming like a modern invention, its origins go back to Ancient China. And, despite it now being hard to think of a world without paper money, in 1968, Americans could still redeem their U.S. bills for silver, and international residents could convert their U.S. dollar bills into gold up until 1971. What led to the invention of paper money and the fiat standard where money has value because government says so? These videos will examine how paper money developed in ancient times.