Primitive Money
Early civilizations used various forms of money, from shells to large stones. The key was always scarcity and durability. The Rai stones of Yap demonstrated that physical possession wasn't necessary - only unviolable record-keeping mattered.
Precious Metals Era
Gold emerged as the dominant form of money due to its scarcity, durability, and difficulty to produce. This "hard money" standard led to humanity's greatest achievements, from the Renaissance to the Industrial Revolution.
The Paper Era
The shift to paper money, initially backed by gold, promised convenience but led to increased government control and systematic devaluation through inflation, effectively transferring wealth from savers to debtors.
"The best form of money in history has always been the one that was hardest to produce. It forced people to build value through work and innovation rather than monetary manipulation."