A brief look at the history of money. As human have evolved so has money. We are currently using fiat money – it is currently backed by debt. The US money in the past was backed by Gold called the Gold standard. Related contented at www.kaynijo.com.

1. The History of Money
Past, present and future
Presented by K Nicole Johnson
at a Women of Worth (WoW) meeting
http://kaynijo.wordpress.com/wow/

2. The History of Money
• Just as humans have evolved – money has evolved.
• Barter, then shells & beads, then gold, silver & copper.
• Most money today is paper money.
• Past (a derivative of gold); today (a derivative of debt).

3. A Few Important Dates
• 1944: The Bretton Woods Agreement was made.
• BWA: an international currency agreement created by the
World Bank and International Monetary Fund (IMF).
• BWA: made US$ the reserve currency of the world.
• BWA: currencies worldwide were backed by the US$,
which was pegged to gold.

4. A Few Important Dates
• 1971: President Nixon took US$ off the gold standard.
• This made the US$ (world currencies) a derivative of
debt – not gold. The birth of fiat currency.
• Michael Maloney – “The Folly of Nations”
http://wealthcycles.com/video/folly-nations
• Michael Maloney – “Fiat: Designed to Fail”
http://wealthcycles.com/video/fiat-designed-fail

5. The Jamaican Context
• The IMF and Jamaica (then and now)
• The Debt Exchanges (two)
- what is it?
- implications
• Inflation

6. Huh?!?!
Questions & Answers…
http://kaynijo.wordpress.com/wow/

7. Huh?!?!
Questions & Answers…
http://kaynijo.wordpress.com/wow/