Re:Washed Up
by lrem on Thursday January 06, 2022 @09:00AM
(#29823582)
Early money have always been things people believed to have intrinsic value. It started with carefully-measured containers of highest-value grains. Then gems and precious metals. It took thousands of years and support from people with guns to move to paper notes.
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Chinese emperors had paper money before they had guns. The copper coins were too heavy to carry around in bulk.
but your main point stands, the paper money depended on the power of the state.