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French Revolution Bankruptcy
- AJ Hanenberg learned the French Revolution as the culmination of Enlightenment philosophies.
- He wasn't taught about France's bankruptcy 60 years prior, caused by John Law's stock bubble scheme.
Money's Origins
- Money's origins could be the abstraction of bartering due to its difficulty.
- Alternatively, it might be the concept of credit or future contracts, like a farmer offering a share of crops for seeds.
Gold Standard Advantages
- Gold became a standard due to its divisibility, verifiability, rarity, and non-decay.
- This facilitated trade by providing a universally accepted, fungible medium.