This is how the World’s first Bank came into existence.

It’s all about Money. We all know majority of the problems in this world are due to only one thing that’s “MONEY”. We also know that the price of all the commodities are increasing day by day, but no one knows what to do and how to control this inflation. In fact inflation will be increasing more and more in future to such an extent that a lower middle and middle class family will find it difficult to have their proper meal. Everyone knows that rich are getting richer and poor are getting poorer, but no one knows how it is happening. Surprisingly we had have never tried to understand how and why is this happening with all of us. This ignorance of us is the main reason why we had become the slave of this evil system and that’s why we are unable to change this evil system.

Let me ask you something, what’s the true wealth of human being? Is that Money, the answer is no. Our true wealth is our time and freedom, which is been robbed very easily, in fact legally. So now the question arises how is it possible? To know the answer we all must know the history of money. We all are aware that in olden days people used barter system for exchange of goods or services, but due to lots of complications in barter system people adopted some another option. Even in those days people were aware of the stored values of gold and silver, so people started trading with gold and silver as money. However there was one huge drawback of gold and silver. People were afraid of carrying and keeping lots of gold at home as well due to its weight and theft. Seeing this as a profitable business opportunity some of the gold smiths and other rich businessmen approached people and told them “you can keep your gold with us and we will keep it safe and secure” in return they asked people to pay some fees. People thought that its and good idea, so people started keeping their gold, silver and valuable things, in return of the gold smiths and businessmen use to give them an IOU (I Owe You) in which they use to mention how much gold is kept with them, that was nothing but a receipt against gold. Whoever wanted their gold use to show that receipt and take away the kept gold. That’s how the system started working smoothly.

Later on the gold smiths and businessmen were surprised by people’s behavior. The people who kept their gold with them didn’t turn up to take their gold back, as people had adopted a different mode of payment and that was through the gold receipt which was given by them in exchange of gold. People believed if someone possesses the gold receipt, which means it’s against the gold, silver or other valuables only. After understanding the value of that gold receipts the gold smiths and businessmen became greedy and they found out a way to make lots of money by just creating fraud receipts even if there was no gold kept against it. They started generating lots of such fraud IOU or receipts and use to give to needy or poor people on loan which earned lots of interest for them. This how they robbed peoples freedom and time. This is how the biggest robbery in the world begun. The shop in which the gold was kept as a security was the world’s first Bank, and the receipt against the gold was the first currency.

I will take ahead this topic in my next post, so to know more of it keep reading and let me know if you like this post.

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