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Middle Ages

5th Century 6th Century 7th Century 8th Century 9th Century 10th Century 11th Century 12th Century 13th Century 14th Century 15th Century    

The Paper Chase Part II

The Paper Chase Part II ©Copyright June 1988 The Panic of 1869, which caused gold to rally significantly, was in itself a sign to the government that paper money would not win the affections and confidence of the people just yet – this would take time. The question of what was actually money remained an […]

The Paper Chase Part I

  ©Copyright June 1988 The story of paper money goes back a long way. One could argue that its first emergence was even before 2500BC in Bablyon. For the sake of convienence, banking transactions took place in the form of a clay tablet which served as a “letter or credit.” While such forms of money […]

A Brief History of Paper Money

The Paper Chase Part I The Paper Chase Part II

1775 – Present The World Revolution

Part IV of IV—A Brief History of World Credit & Interest Rates by Martin A. Armstrong ©Copyright PEI  1700-Date As with most wars, noble motives are usually portrayed in some slogan that attempts to hide the true underlying financial incentives. The English Crown’s attempt to control and prevent irresponsible paper money issues among the Colonies, […]

1690 – 1774 A.D. The Dawn of Capitalism

Part III of IV—A Brief History of World Credit & Interest Rates by Martin A. Armstrong ©Copyright PEI  1690 – 1774 AD The eighteenth century was a period of strong economic and political growth for Britain. Constitutional parliamentary government, which had replaced the monarchy, appeared to foster great national expansion. The currency of Britain remained […]

500 A.D. – 1690 A.D. The Fall of Rome to End Dark Ages

Part II of IV—A Brief History of World Credit & Interest Rates by Martin A. Armstrong ©Copyright PEI  500 AD-1700 AD The fate of the Roman Empire of the West had been cast with the sack of Rome in 410 AD by the Goths followed by the Vandals in 455 AD. What was once Rome […]

3000 B.C. – 500 A.D. The Ancient Economy

Part I of IV—A Brief History of World Credit & Interest Rates by Martin A. Armstrong ©Copyright PEI  3000 BC – 500 AD—The Rise and Fall of Babylon – Greece – Rome Credit is usually thought of as a modern invention of perhaps only a few hundred years old. It is true that a few […]

A Brief History of World Credit & Interest Rates

3000 B.C. – 500 A.D. The Ancient Economy 500 A.D. – 1690 A.D. The Fall of Rome to End Dark Ages 1690 – 1774 A.D. The Dawn of Capitalism 1775 – Present The World Revolution * Based in part on the work of by Sidney Homer and Richard Sylla – History of Interest Rates

Anastasius I – 491-518 AD

Anastasius I 491-518 AD Anastasius was born in Dyrrhachium about 430 AD. Anastasius became an obscure court official under Zeno, usher at the Imperial Palace. At the time of the death of Zeno in 491 AD, he had left no heir to the throne. The task then passed to his widow, the Empress Ariadne. The Empress selected […]