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The Evolution of Currency: From Gold to Modern Systems
This chapter examines the historical impact of the Babylonian king’s actions on the monetary system, particularly through the lens of Croesus and the introduction of standardized gold coinage. It discusses how shifts in gold supply and its intrinsic value influenced inflation and currency crises across various civilizations. Furthermore, the chapter highlights the ideological transformations in the understanding and use of currency, especially during the arrival of European colonizers in South America.