Hello steemers, i am passionate about numismatics and i read everything i find about money. Down below there are some interesting facts about money. Enjoy!
The system of writing checks predates the use of coinage. Fully a millennium before the world's first discovered coin, checks inscribed on clay tablets were used as currency in ancient Babylonia.
In the 1880s, big industry begun to set up trust to monopolize production and distribution. The first big trust was Rockefeller's Standard Oil Corporation, in 1882. The first international trust was Nobels's Dynamite Trust, in 1886.
In the early 1920s, at the height of inflation in Germany one american dollar was eqal to 4.2 trilion ( 4,200,000,000,000 ) German marks.
The gold reserve of the US Treasury was saved in 1895 when J.P.Morgan and the Rothschild loaned $65 million worth of gold to the United States governmnent.
Almost half a century back, in 1970 only about 5000 Americans had a net individual worth of $10 millions or more according to 1970 census. Now there are millions.
