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The power of money. Season 1, episode 2, The era of gold and silver / [produced by Grecture].
- Format:
- Video
- Series:
- The Power of Money ; Season 1, Episode 2
- Language:
- English
- Subjects (All):
- Precious metals.
- Economic history.
- Genre:
- Lectures.
- Short films.
- Nonfiction films.
- Physical Description:
- 1 online resource (15 minutes)
- Other Title:
- Era of gold and silver
- Place of Publication:
- [Place of publication not identified] : JenCor Entertainment, 2022.
- Language Note:
- In English.
- System Details:
- video file
- Summary:
- Gold and silver have been used as mediums of exchange for thousands of years. The reason for this was people could melt down objects made of these precious metals and to obtain its true value. It was a real money system. In the 1500s, Spain experimented with copper coins instead of using silver to reduce production costs. This coin was the first nominal, or fiat, currency not based on the actual value of the metal. However, this Spanish experiment failed, generating incredibly high inflation.
- Participant:
- Thomas Sargent, speaker.
- Notes:
- Title from resource description page (viewed April 06, 2026).
- Part of the metadata in this record was created by AI, based on the text of the resource.
- OCLC:
- 1589864343
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