Don't Effing Google! Who invented the Gold Standard?

[CrusaderFrank]

Don't Effing Google! Who invented the Gold Standard?

Seriously, try to actually learn without going to Google

 

[CrusaderFrank]

The Templar Knights generally credited with inventing modern merchant banking.

Prior to their establishment of lodges through Christendom, a merchant wanting to transport gold had the unsavory option of hiring guards to help physically transport their gold and hope that they weren't betrayed or overpowered along the way. The Templars invented a system where the merchant or nobleman could instead deposit his gold at the local Temple lodge and in exchange was handed an encrypted check that could only be decoded and utilized at another lodge. Of course, they collected a fee for their services.

 

[CrusaderFrank]

Ben Franklin printed Colonial and then the first US Currencies. One of the Colonial currencies said "To counterfeit is death" (I think).

Franklin also said, "the riches of a country are to be valued by the quantity of labor its inhabitants are able to purchase, and not by the quantity of silver and gold they possess."

 

[CrusaderFrank]

I put "some unknown Egyptian King" up there so that IM2 and the other USMB racists could claim that the Gold Standard was invented by blacks

 

[CrusaderFrank]

“No commodities regulate themselves more easily or more exactly according to this effectual demand than gold and silver because on account of the small bulk and great value of those metals, no commodities can be more easily transported from one place to another, from the places where they exceed, to those where they fall short of this effectual demand" -- Adam Smith, 1776 Wealth of Nations

 

[CrusaderFrank]

I believe the correct answer is: Sir Issac Newton.

Besides working out the math and science of the modern world, he was also Master of the Royal Mint. As such, England on the gold standard in 1717, or thereabouts. This put England on a glidepath on unbridled prosperity and commerce.