Rix Quinn - The history of money
Last updated 8/16/2022 at 3:18pm
My friend Judy asks, “If money doesn’t grow on trees, then why do banks have branches?”
This is such a good question, I consulted two experts: a friend who owes his bank money, and another guy whose desk faces an ATM machine. Here’s what they told me.
Before there were banks, somebody had to invent money. But before there was money, there was a barter system.
Let’s say we live on farms, and my neighbor wants to trade several chickens for my two excellent goats. We meet somewhere and swap animals.
But let’s say he wants to buy my house. He offers me several chickens for it, but I...