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    Summary of Nik Bhatia's Layered Money
    Summary of Nik Bhatia's Layered Money
    Summary of Nik Bhatia's Layered Money
    Ebook31 pages15 minutes

    Summary of Nik Bhatia's Layered Money

    By IRB Media

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    Please note: This is a companion version & not the original book. Book Preview:

    #1 Money is a tool that allowed humans to progress away from reciprocal altruism, where animals exchange favors. Humans have used seashells, animal teeth, jewelry, livestock, and iron tools as tokens of barter for tens of thousands of years, but eventually settled on gold and silver as globally accepted forms of currency.

    #2 The first coins were made by the Lydians around 700 BC. They were embossed with an image of a roaring lion and weighed 126 grains, which is about 8 grams. Because all coins had a precise amount of gold, they could then be used as a unit of account.

    #3 The Roman Empire is a great example of how coins led to government influence over currency. In the first century AD, coins called denarii were minted by the government in Rome, and due to the empire’s worldwide expanse, they were used across Europe, Asia, and Africa.

    #4 The northern Italian cities of Florence, Venice, Genoa, and Pisa established themselves as city-republics in the 11th century, and their newfound independence was later marked by the coinage of their own money. The Florentine florin was the first gold florin, and it became the international monetary standard for pan-European finance.

    LanguageEnglish
    PublisherIRB Media
    Release dateApr 28, 2022
    ISBN9781669397199
    Summary of Nik Bhatia's Layered Money
    Author

    IRB Media

    With IRB books, you can get the key takeaways and analysis of a book in 15 minutes. We read every chapter, identify the key takeaways and analyze them for your convenience.

    Read more from Irb Media

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      Book preview

      Summary of Nik Bhatia's Layered Money - IRB Media

      Insights on Nik Bhatia's Layered Money

      Contents

      Insights from Chapter 1

      Insights from Chapter 2

      Insights from Chapter 3

      Insights from Chapter 4

      Insights from Chapter 5

      Insights from Chapter 6

      Insights from Chapter 7

      Insights from Chapter 8

      Insights from Chapter 9

      Insights from Chapter 10

      Insights from Chapter 1

      #1

      Money is a tool that allowed humans to progress away from reciprocal altruism, where animals exchange favors. Humans have used seashells, animal teeth, jewelry, livestock, and iron tools as tokens of barter for tens of thousands of years, but eventually settled on gold and silver as globally accepted forms of currency.

      #2

      The first coins were made by the Lydians around 700 BC. They were embossed with an image of a roaring lion and weighed 126 grains, which is about 8 grams. Because all coins had a precise amount of gold, they could then be used as a unit of account.

      #3

      The Roman Empire is a great example of how coins led to government influence over currency. In the first century AD, coins called denarii were minted by the government in Rome, and due to the empire’s worldwide expanse, they were used across Europe, Asia, and Africa.

      #4

      The northern Italian cities of Florence, Venice, Genoa, and Pisa established themselves as city-republics

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