Martin Armstrong — The Start Out Illustration Degree Of Money

Egypt’s monetary organisation began amongst barter. It was primarily based on agriculture – grain. This evolved into official Graineries together with a farmer would together with then convey his crop to the Grainery together with have a receipt. With time, the monetary organisation evolved where people would together with then convey these receipts (paper money) inwards payment.

The receipt  would hit got been a credit sideslip representing the liability of the granary.

Armstrong Economics
The First Representative Form of Money

Martin Armstrong