6139008-History-of-Money

loans. The lawyer and theologian Lorenzo di Antonio Ridolfi wins a case which legalises interest payments by theFlorentine governmentAC 1450: Portuguese start voyages along the coast of Africa In the 14th and 15th centuries Europe suffers from a "GreatBullion Famine." This is partially alleviated as the Portuguese open up a new route for sub-Saharan gold via Ghana andMali.AC 1452-1519: Life of Leonardo da Vinci Among Leonardo's drawings are designs for a press to produce more uniformcoins quickly using a water driven mill. This innovation is widely adopted and the new money is termed milled money.AC 1455: China abandons paper money There are no known references to paper money being in circulation after thisdate. Thus after well over 500 years of experience with paper currencies, during which there have been repeated episodesof inflation and currency reform, China ceases to use paper money.AC 1494: First book on double entry bookkeeping is published in Italy Double entry bookkeeping has been in use forprobably well over a century in Italy before the publication of the Summa de Arithmetica, Geometrica, Proportioni etProportionalita by Friar Luca Pacioli.King Henry I of England decided to try to wrestle the power away from the Goldsmiths around 1100 A.D. He producedsticks of polished wood, with notches cut along one edge to signify the denominations. The stick was then split full lengthso each piece still had a record of the notches. The King kept one half for proof against counterfeiting, and then spent theother half into the market place where it would continue to circulate as money. Because only Tally Sticks were acceptedby Henry for payment of taxes, there was a built in demand for them, which gave people confidence to accept these asmoney. He could have used anything really, so long as the people agreed it had value, and his willingness to accept thesesticks as legal tender made it easy for the people to agree. Money is only as valuable as peoples faith in it, and withoutthat faith even today's money is just paper. The tally stick system worked really well for 726 years. It was the mostsuccessful form of currency in recent history and the British Empire was actually built under the Tally Stick system, buthow is it that most of us are not aware of its existence?The gold that flooded Europe after the Spanish conquest of America was not mined by the Spaniards but stolen – once bythe Spaniards from the Amerindian civilizations that they destroyed for the purpose, and then much of it by Englishpirates from the Spaniards. Two radically different social systems reigned on either side of the equality symbols. Moreoverthe same scenario had been reenacted three hundred years earlier fuelled by the same famine for an exchange medium inEurope that had been bleeding its scant silver into Asia. In the 16th century as the gold and silver the Spanish had stolenfrom the American Indians poured into Europe, coins grew larger, more plentiful and heavy. Merchants needed a safeplace to keep them when they weren't needed. The goldsmiths had large safes and fierce dogs and it became customaryto leave coins on "safe deposit" with them. Next people saw that a "gold certificate" or warehouse receipt signed by thegoldsmith was more convenient to circulate than those heavy coins made of soft metals that quickly wore out if theypassed hand to hand. So the smiths printed up receipts in convenient denominations promising payment in gold towhoever presented the receipt. Some people took to writing notes to the smith ordering him to transfer the ownership ofsome of their coins to someone else. Thus the personal check was born. During the English Civil War, 1642-1651, thegoldsmith's safes were secure places for the deposit of jewels, bullion and coins. Instructions to goldsmiths to pay moneyto another customer subsequently developed into the cheque (or check in American spelling). Similarly goldsmiths'receipts were used not only for withdrawing deposits but also as evidence of ability to pay and by about 1660 these haddeveloped into the banknote. Then one day one of the smiths had a brilliant, and wholly dishonest, idea. He noticed thatpeople so much preferred his paper money to its "gold backing" that the gold in his vault hardly circulated-some of ithadn't moved in years. So he thought, "I could print up some extra gold certificates and lend them out to gain theinterest." The idea was irresistible, and thus banking was born!Many are not aware of the permanent financial revolution that is being fought over the World's monetary system since1694 when the Bank of England was created. At that time, a group of private individuals decided that they could make agreat deal of money if they changed the laws of the land to shift control of the country's finances from the government tothem. Just 300 years ago, in 1694, William Patterson talked King William III into chartering a private bank with the officialsounding title of "The Bank of England." The King had another war to fight with France's King Louis XIV and not muchmoney to pay for it. Being a Dutchman, he was unpopular with the British Parliament and it balked at voting the neededtaxes. The royal credit was zilch because of his predecessors' extravagance. What to do? He jumped at Patterson'spromise to lend him lots of "Bank of England Notes"-which had little or no gold "backing"-at a reasonable sounding 3percent interest. Thus national debt was born. King William seems never to have asked His Royal Self the obviousquestion, "Why the hell should I pay William Patterson interest to print money for me? Why don't I get a printing pressand print some money myself?" Nor did he notice that his humble subjects in the Massachusetts Bay Colony, in whatwould one day become the United States, had already come to just this solution to solve a similar problem. The Bank ofEngland was a private corporation which earns a continuous stream of income when the British government borrows fromit. The owners of The Bank that recognized they could run the World's finances if they established private corporations inall the countries of the World. The combined debt of all the World's countries would create an income stream ofunbelievable amounts.In 1690, the Massachusetts Bay Colony decided to do its bit in King William's War by invading Canada. The soldiers weretold, "We can't pay you, but the French have lots of silver. So beat them out of it and we will pay you with the spoils." Butthe French won and the soldiers came back to Boston sore, mean and unpaid. Necessity being the mother of invention, abright Yankee named Benjamin Franklin thought of printing up government "promissory notes," declaring them "legaltender" and using them to pay the soldiers. That worked so well that the other colonies copied the idea. From that dayuntil the American Revolution (1775-1782) there were no banks in the 13 British North American colonies. By the time ofThe Hidden History Of Money & New World Order Usury Secrets Revealed at last! Page 227