hypa ANALYSIS
hypa is famous for it's global analysis which looks at issues relating to current events and helps us fill our web pages with stuff. hypa has access to sources of information from all over the world, and from out of it. Each week we look at an issue connected to our chosen topic of the week.
The History of Money
With financial matters in the news this week, hypa has decided to examine the history of money:
1000BC - Money not yet invented. Goods are measured by their value in 'Goats'. For example, 5 sheaves of wheat cost 2 Goat Legs, a goat costs 1 Goat, a mud hut costs 56 Goats and an hour with a good lawyer costs 2,678 Goats.
256BC - Money officially invented when an Ancient Greek politician ponders the question '...if only there was something to bribe me with.'
255BC - Money declared illegal in an attempt to clean up Ancient Greek politics.
254BC - Money declared legal again by the Ancient Greek Supreme Court so that judges can be paid.
86BC - The Roman Dinar is the world's most used currency. Tickets to see Christians being fed to lions cost 28 Dinar seated, 16 Dinar standing.
156AD - Disintegration of Roman Empire leads to the creation of many little currencies. The smallest currency at this time is the Grupel which is used by 3 people in northern Austria.
869AD - World's first bank formed in Switzerland. Bank accounts available for first time ever.
870AD - World's first recorded instance of a cheque bouncing.
1199AD - Foreign exchange market opened in Amsterdam.
1200AD - The Austro-Hungarian Pfennig becomes the first currency to collapse.
1300AD - The 100th anniversary of the Austro-Hungarian Pfennig becoming the first currency to collapse.
1952AD - First credit card issued to a member of the public. Also in 1952, the world's first repossession for defaulting on a credit card bill.
1993AD - World's first electronic money. Prone to rapid devaluation when there is a power failure.