The Death of Money

Since 9000 BC we’ve been exchanging things of value for items we need or want.

This system of bartering has evolved over time; from the Chinese with their bronze trinkets and the Indians with their cowrie shells to Italian gold florins and Swedish paper money.

Over the last few thousands of years, we’ve moved further and further away from passing around physical things of value to passing around promissory notes and well, not “passing” anything at all but instead relying on financial service providers to debit our account and credit another or vice versa.

Did You Know? It’s been a decade since the first contactless payment was made in the UK.

Whether it’s cryptocurrencies or credit cards that deal the final blow to physical money remains to be seen, but one thing that’s for certain is 100 years from now, how we pay for things will likely look very different to today.

But how does physical money get disposed of? And why? Take a look at our infographic below to find out:

The Death of Money

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Wheelbarrows of Money – 5 Times Currencies Crashed

Hyperinflation occurs when a country experiences very high rates of inflation, which erodes the real value of the local currency, and causes the population to minimize their holdings of local money.

It is argued that hyperinflation often occurs as a result of some kind of stress on a Government’s budget. This is because the root cause is a large Government deficit which is financed by money creation rather than other options like increased borrowing or higher rates of taxation.

In the following infographic we look at 5 times that currencies crashed in a big way. In each of these scenarios, war was the primary cause or played a major role in the Government deficit that led to hyperinflation. Interestingly if we examine all the documented instances of hyperinflation throughout history (extending as far back as the Romans), the same is often true – funding wars or funding the clean up from wars creates a huge deficit that often leads to massive currency devaluation.

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