Ascent of money chapter 1

THE ASCENT OF MONEY

This documentary is about how money has evolved since Incas and the main points in history that have had repercussion in the economy of money today. This documentary is abouthow money has evolved since Incas and the main points in history that have had repercussion in the economy of money today.
It starts in the époque of Incas 500 hundred years ago when Spaniardsarrived looking for valuable raw metals such as gold and silver in order to turn them into money. However this did not make them richer because the supply of goods was the same.
Nowadays many transactionsare based on trust, you trust your money to your bank or to brokers you will never meet, so money have been converted into a system of mutual trust, creating credits which has been very important inthe world history and nations like the US have been built on that credit and trust ideas.
Fibonacci was an important person in the credit issue since he showed the superiority of Arabic numbers overthe roman ones. This helped to calculate transactions, their interests and the percentages. In Italy at first just Jewish could put some interest in money since it was a sin for Christians, he tookadvantage of that to make money but the price they paid was the social exclusion in their own ghettos. Later on it started to be common and it ended to be just exclusive for the Jewish.
The mostrepresentative family of the credit system in Italy out of the Jewish people was the Medicis. They worked in a different way than the Jewish trying to reduce costs and risks becoming the most powerfulmoney lenders.
Regarding the issue of credits, John Law started to issue paper money what was an important improvement in Europe although it was normal in China for a long time ago. This resulted inthe creation of the Louisiana Company.
From my point of view the financial institutions should be more controlled by other organism in order to avoid crisis and the enrichment of few people who...