How Currencies Start - and Why they Fail

How do currencies start? And why is it that they always seem to fail? Now, any time we have a conversation about things like this, it is important to get definitions straight. So, what do I mean by currency?

And is it different than money? Well, the short answer is yes. But many people disagree about what makes up the difference between these two things.

Timecodes
0:00 Introduction
1:10 The Origin of Money
2:37 Downsides of Using Gold as Money
5:12 Banking as a Solution to the Problems of Gold as Money
8:33 The Rise of Central Banking
12:26 The Emergence of Fiat Currency

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