Dylan Schmidt Trampoline
1. It's hard to imagine what things were like before there was money, but such a time did exist. During these times people exchanged goods using the barter system. The word barter means to trade. People using the barter system traded things instead of buying and selling them. So if you were a rice farmer, you would trade your rice with many people to get all of the things that you wanted or needed. Unfortunately, the people from whom you needed things might not want your rice. Isn't it nice to just go to the store and buy candy instead of having to trade rice for it?
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2. Money is pretty old but nobody knows exactly how old it is. Perhaps the oldest evidence of people using money is in the Code of Ur-Nammu. The Code of Ur-Nammu is a system of laws written around 2050 BC. That's like 4,000 years ago! Many of Ur-Nammu's laws carry fines, such as one stating that if a man is proven innocent of sorcery, his accuser must pay 3 shekels. This ancient document shows me two things: Ur-Nammu didn't tolerate false witch-hunts, and money is very old.
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3. One particular problem that the U.S. faced when rebelling against the British was currency. While under British control, colonists mainly used British paper money and foreign coins, but after forming a new nation the Americans needed their own currency, so they created Continental currency. Congress issued over 240 million Continental Dollars during the Revolution. Unfortunately, these dollars soon dropped in value, giving rise to the popular expression, "not worth a Continental." By the end of 1778, Continentals were worth 1/5th of their face value. By 1780, they were worth 1/40th. In the 1790s, the U.S. bought back Continentals for 1% of their printed value. One reason for this decline was economic warfare. During the war the British hired artists to counterfeit Continental Dollars. Large amounts of these counterfeit notes were funneled into the American economy and the value of the Continental Dollar crashed. When people start complaining about today's inflation rates, I tell them about Continentals.
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4. Hyperinflation refers to when the value of money drops rapidly. During World War I , Germany Germany
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5. Counterfeiting is the act of making phony money that looks official. It is a very old crime but recent advances in the printer industry have made it possible for even amateurs to produce decent counterfeits. Fortunately, there are a number of ways that you can detect counterfeits. The first and most telling inspection is to pay attention to how the money feels. It is difficult to reproduce the texture of real money. If the money feels suspect, look carefully at the microprinting on the bill. Many features along the portrait and border of a genuine bill contain writing that is too small to reproduce in most printers. If you are still suspicious, hold the bill up to the light and look for the strip that says the value of the bill. With a little diligence, you can keep yourself from becoming a victim of this rising trend.
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Kiwis going for gold in cycling.
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