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LET'S PRACTICE
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Money Morph Timeline Let’s Practice! Place the following Money Morph events in order on the time line: • Bitcoin founded
• credit cards & electronic money goes mainstream • China uses paper money • The Fed is founded • European governments issue paper money • China uses shells for money • U.S. issues paper money
• Widespread use of coins in China • Egyptians use metal rings for money • U.S. goes off the gold standard to fiat money • Barter is king • Cashless society...? • Use of cash drops to 7% of transactions in U.S.; 3% in Sweden
Use of cash drops to 7% of transactions in the U.S.; 3% in Sweden PRODUCT PREVIEW Bitcoin VC founded U.S. goes off the gold standard to fiat money Credit cards and electronic money goes mainstream The Fed is founded (U.S.) 2013 2008 1971 1950-1960s 1913
Cashless society...?
The Future…
U.S. government issues paper money
European governments begin issuing paper money
China uses paper money
1862
618-907
1700
Widespread use of coins in China
Lydians mint the first coin
China uses shells for money
200 BC
Egyptians use metal rings for money
700 BC
1200 BC
Barter is king!
2500 BC
10,000-3000 BC
62
Lesson 4 | The Money Morph
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