The Forbidden City: Power at the Heart of Imperial China — Fexingo History
In Episode 174 of Fexingo History, Lucas and Luna dive into one of the Ming dynasty's most disastrous experiments: the collapse of paper money. After years covering military campaigns, palace intrigues, and imperial architecture, they turn to the economy—specifically the rise and fall of the Great Ming Baochao banknotes. Lucas explains how the Ming founder Zhu Yuanzhang banned copper coins and forced the use of paper currency, only to see inflation spiral out of control by the mid-15th century. The episode zooms in on the role of the eunuch Yin An, who in 1455 was tasked with printing new notes to cover the court's debts, inadvertently fueling a hyperinflation crisis that left baochao virtually worthless. Luna asks sharp questions about counterfeiting, the silver drain to Japan, and why the Ming couldn't switch back to coin. The conversation also touches on the parallel with Yuan dynasty paper currency, the impact on ordinary merchants, and the eventual shift to silver as the backbone of Ming finance. A fascinating look at how even the most powerful empire can't defy economic gravity. #MingDynasty #PaperMoney #Baochao #YinAn #ZhuYuanzhang #MingEconomy #Hyperinflation #Eunuchs #ForbiddenCity #SilverTrade #ChineseHistory #MonetaryPolicy #EconomicHistory #MingShilu #DaMingHuidian #Counterfeiting #ZhengtongEmperor #FexingoHistory Keep every episode free: buymeacoffee.com/fexingo [https://buymeacoffee.com/fexingo]
180 episodes
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