Tuesday, June 30, 2009
A Short History of International Currencies
By Christopher Weber
It makes you realize that the sun is always shining somewhere. And this is not just meant literally either. I've noticed that investment-wise "the sun is always shining somewhere" as well. There is always a bull market in something, even if it just means staying in cash. If everything else is falling, it means your cash is worth more today than it was worth yesterday.
Broadening out this concept further, since I was in high school I have been fascinated by the rises and falls of civilizations, especially as symbolized by money. It not only interests me to see great powers ---and their monies--- rise and fall. I am also interested in learning how other places stepped into the vacuum as the great civilizations decay.
It used to be thought, in the West at least, that with the fall of the Roman Empire the world was plunged into the Dark Ages. But we now know that other parts of the world saw golden eras at this same time.