Your Money Is Worthless
Celebrating 100 years of our global reserve currency
Did you know that 30% of Americans still believe to this day that the U.S. dollar is backed by gold?
Let me tell you what money used to be, what it is now and find out why that 100$ bill in your pocket is actually (almost) worthless.
Money as a store of intrinsic value
The problem
Around 5000 years ago in Mesopotamia, some smart minds figured out a way to trade their goods better.
Say I was a sheepherder back then, needed a new pair of shoes and went to the shoemaker to get me some. Probably not shiny white sneakers but some leathery somethings that protected my feet when herding.
I offered the man a sheep but unfortunately, my old rival sheepherder-Jack went to him yesterday in need of a new pair of shoes and had already sold him a sheep. So my shoemakers sheep-needs were met. What he needed though, was somebody to fix his leaking roof.
So in order to get me those nice new kicks, I had to find somebody who knew how to fix leaking roofs and needed a sheep. Not the most convenient thing in the world.
