How the Mongols Changed Trade, War, and Globalization — Fexingo History
In this episode, Lucas and Luna explore how Khubilai Khan introduced the world's first government-backed paper currency, the chao, to unify the Yuan Dynasty's vast economy. They trace its origins from Chinese Song dynasty jiaozi to Mongol innovations, examine how Marco Polo marveled at the system, and discuss the inflationary collapse under later Yuan rulers. The conversation covers the role of the ortogh merchant associations, the use of mulberry-bark paper and red seals, and the challenges of managing a multi-currency empire. Lucas explains how this early experiment in fiat money paved the way for modern central banking, and reflects on the delicate balance between trust and coercion in monetary systems. A fascinating look at economic globalization 700 years before the Federal Reserve. #MongolEmpire #KhubilaiKhan #YuanDynasty #PaperMoney #Chao #EconomicHistory #MarcoPolo #Ortogh #FiatCurrency #Inflation #CentralBanking #SongDynasty #PaxMongolica #Khanbaliq #History #FexingoHistory #Globalization #MedievalEconomy Keep every episode free: buymeacoffee.com/fexingo [https://buymeacoffee.com/fexingo]
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