Notes

The Greatest Guide To Money - Entrepreneur


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<h1 style="clear:both" id="content-section-0">Things about 1 in 10 Americans has missing money, here's how to claim yours<br></h1>
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<p class="p__0">In the 10th century, the Song dynasty government started circulating these notes among the traders in their monopolized salt industry. This Site gave several stores the sole right to issue banknotes, and in the early 12th century the government finally took over these stores to produce state-issued currency. Yet the banknotes provided were still regionally valid and short-term; it was not until the mid 13th century that a standard and uniform government issue of paper currency was made into an acceptable across the country currency.</p>
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<p class="p__1">Paper money from different countries At around the same time in the middle ages Islamic world, a vigorous monetary economy was produced throughout the 7th12th centuries on the basis of the expanding levels of circulation of a stable high-value currency (the dinar). Developments presented by economists, traders and merchants of the Muslim world include the earliest usages of credit, cheques, savings accounts, transactional accounts, loaning, trusts, exchange rates, the transfer of credit and debt, and banking organizations for loans and deposits. [] In Europe, fiat money was initially presented in Sweden in 1661.</p>
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<p class="p__2">The benefits of paper currency were many: it decreased transport of gold and silver, and therefore decreased the risks; it made loaning silver or gold at interest simpler given that the specie (silver or gold) never ever left the ownership of the lender until somebody else redeemed the note; it enabled for a division of currency into credit and specie backed kinds.</p>
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