Learn & Earn: Lesson 1 – Money

lesson 1 money before traditional money people would trade goods they wanted with goods they had if I had apples and wanted oranges and you had oranges and wanted apples we could trade the problem arises when one of the parties doesn't want what the other has to offer this cause traders to find a suitable medium to which everyone could agree had value gold was that commodity this precious metal was decided as valuable to everyone involved so the price was set and currency as a medium of exchange was born however a problem soon arose due to the size and weight of this new currency holding large amounts of gold was highly risky and due to its weight difficult to maneuver as a result a system was introduced where individuals would store their physical gold with a reputable institution known today as a bank who would issue paper IOUs stating that the holder would be entitled to the same amount of gold upon request these paper io u–'s could then be used to pay for goods and services with the holder entitled to the underlying gold and that's the story behind the creation of the first-ever paper money known today as fiat currency prior to 1971 the world's currencies were backed by gold after the abolishment of the gold standard in 1971 all money printed lacked tangible value lead him to a tremendous amount of fiat money being printed leading to a devaluation of the dollar and a correlated increase in public debt creating the modern banking system we have today trapped in perpetual debt and with inflation eroding the value of your money this chart shows what has happened to the value of the US dollar since the end of the gold standard it also illustrates how the increase of debt has in correlation exponentially increased Kinesis provides a unique solution by reintroducing a currency based one to one on allocated gold and silver made possible by eliminating the need for a central bank via blockchain technology allowing you the freedom to transact beyond the control of financial institutions this revolutionary technology provides a return to a sustainable monetary system based on physical assets with full control and trust placed back in the hands of the people who own it

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