The Mongol Empire: How Nomads Conquered the World — Fexingo History
When Khubilai Khan conquered China and founded the Yuan dynasty, he inherited an empire of staggering wealth — and nearly bankrupted it within a generation. This episode follows the Mongols' disastrous experiment with paper money, from the first fiat currency in world history to the hyperinflation that collapsed the Yuan. We explore how Khubilai's chancellor, Ahmad Fanakati, imposed a state monopoly on silver and forced merchants to accept paper chao, how Marco Polo marveled at the 'almonds of the Great Khan,' and how the printing press — once a tool of conquest — became a weapon of self-destruction. Along the way, we meet the Silk Road merchants who evaded the system, the Chinese scholars who warned of inflation, and the rebel armies that finally burned the paper notes. This is the story of how the Mongol Empire's greatest innovation in finance became its gravest vulnerability. #YuanDynasty #PaperMoney #KhubilaiKhan #Chao #AhmadFanakati #Hyperinflation #MarcoPolo #FiatCurrency #SilkRoad #MongolEconomy #ZhongtongChao #ZhiyuanChao #Dadu #Khanbaliq #EconomicHistory #History #FexingoHistory #MedievalChina Keep every episode free: buymeacoffee.com/fexingo [https://buymeacoffee.com/fexingo]
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