The Evolution of Money

In this podcast episode, the host discusses the evolution of money and how it has transformed from a physical, tangible form to a digital concept. He highlights how money used to be represented by physical objects like gold and coins, and how it was backed by gold reserves until 1971. The episode explains that money is now created by governments and banks simply by changing the digits in people's accounts. The trust and value in money come from the fact that it can be converted into goods and services, and because the government demands that taxes be paid in the national currency.