Money, A Global Game of Trust

The video explores the concept of trust in relation to money, highlighting how money is an imaginary construct that relies on collective belief. It traces the evolution from commodity money, like barley, to symbolic currencies such as gold and coins. The development of banking and paper money further illustrates the layers of trust involved in modern economies. The video concludes by questioning how trust will persist as wealth becomes increasingly digital.

What is the primary reason money holds value?

• It is a collective agreement of value.

• It can be used as food or shelter.

• It is backed by gold reserves.

• It is made of precious materials.

Why was commodity money considered inconvenient?

• It was too valuable.

• It had no practical use.

• It was not widely accepted.

• It was difficult to transport and store.

What was the main reason for choosing gold as a currency?

• It is the most abundant metal.

• It is easy to find and extract.

• It has ideal physical properties for currency.

• It is the most beautiful metal.

What innovation did the first coins introduce?

• They were made of paper.

• They were made of silver.

• They were used only in Turkey.

• They had a royal seal guaranteeing their value.

What role did banks play in the evolution of money?

• They printed the first paper money.

• They determined the value of gold.

• They created the first coins.

• They provided a safe place to store coins.

Why did people prefer promissory notes over gold coins?

• They were more valuable.

• They were harder to counterfeit.

• They were backed by silver.

• They were lighter and more convenient.

How do governments reinforce trust in paper money?

• By printing more money.

• By making it colorful.

• By including images of respected figures.

• By using high-quality paper.