Kublai Khan and the Mongol Rule of China — Fexingo History
In this episode of Fexingo History, Lucas and Luna explore the rise and fall of Kublai Khan's paper money system—the world's first government-issued fiat currency. How did the Yuan dynasty's chao, backed by nothing but imperial decree, fuel trade across Eurasia and then collapse into hyperinflation? Lucas traces the story from the early success of the Jiaochao yuanbao under Kublai's minister Ahmad Fanakati, through Marco Polo's amazed descriptions of 'coins made of bark,' to the disastrous overprinting that followed Kublai's costly wars against Japan, Vietnam, and Java. Along the way, they discuss the role of silver reserves, the tamgha tax, and how counterfeiters exploited the system. The episode also touches on the legacy of paper money in China, from the Song dynasty's jiaozi to the Ming's baochao. A cautionary tale about the power—and peril—of printing money. #KublaiKhan #YuanDynasty #PaperMoney #Chao #Hyperinflation #AhmadFanakati #MarcoPolo #JiaochaoYuanbao #ZhibaoTongxingBao #Tamgha #Dadu #Khanbaliq #PaxMongolica #EconomicHistory #MedievalChina #MongolEmpire #History #FexingoHistory Keep every episode free: buymeacoffee.com/fexingo [https://buymeacoffee.com/fexingo]
179 Episoder
Kommentarer
0Vær den første til å kommentere
Registrer deg nå og bli medlem av Kublai Khan and the Mongol Rule of China — Fexingo History sitt community!