The entire modern banking system was invented by people who looked at other people's gold and thought "that's just sitting there though." 🤷🏽♂️
Merchants stored gold with goldsmiths. Got receipts. Started trading the receipts instead of moving the gold. The goldsmiths clocked that most of the vault never moved and started issuing more receipts than they had gold.
It worked. It still works. (Your bank account is proof.)
#MoneyHistory #BankingFacts #FinancialLiteracy #CultureOfMoney #Remitly