The Yuan dynasty's paper money system under Kublai Khan was groundbreaking for its scale and enforcement, initially backed by commodities like silver and silk to build trust and reserves.[1][2] While it enabled vast trade without heavy metals, later over-issuance led to hyperinflation, marking an early lesson in fiat pitfalls.[3]

## Early Successes

Mints strategically bought gold, pearls, and silk with new chao notes, creating a self-reinforcing cycle that amassed imperial wealth and unified payments across Eurasia—merchants preferred it for portability, as Marco Polo observed.[4][5] No fractional reserve banks existed; state control kept credit creation centralized and disciplined at first.[2]

## Decline and Legacy

Wars depleted reserves, turning it fiat and causing collapse by the 14th century, yet it influenced modern central banking concepts like state monopolies on issuance.[3][6] Your planned writing could highlight this as a sophisticated pre-modern experiment, contrasting with today's systems.

Citations:

[1] Marco Polo Describes the Issue of Paper Money in the Mongol Empire https://historyofinformation.com/detail.php?id=243

[2] The Mechanism of Paper Money in Yuan China http://mx.nthu.edu.tw/~tkho/workshop/Paper3.pdf

[3] The rise and fall of paper money in Yuan China, 1260–1368 | CEPR https://cepr.org/voxeu/columns/rise-and-fall-paper-money-yuan-china-1260-1368

[4] The First Precious Metal Standard in Monetary Policy: Paper Money ... https://www.hoover.org/research/first-precious-metal-standard-monetary-policy-paper-money-under-mongols-china

[5] Marco Polo Discovers Paper Money https://www.hursthistory.org/uploads/1/0/7/0/107013873/marco_polo_discovers_paper_money.pdf

[6] Did the Yuan Dynasty's Use of Paper Money Cause ... https://www.ancient-origins.net/history-important-events/hyperinflation-0017747

Both. The psyop is making the people believe it actually has value. But yes, many scams are psyops, as they often rely on social engineering to be successful. There is a lot of overlap here.

I have yet to see this culture in real life. Ever.

Wow 😂

🤣😂🤣

Angel numbers are a fraud. The woman who created these had actually rescinded all of this, realizing she was a witch.

https://youtu.be/90U6ZWKHrwQ