1 rich Libsyn https://www.libsyn.com 90 600 A history of human exchange. From Barter: &quot;The armour of Diomede, says Homer, cost only 9 oxen; but that of Glaucus cost a hundred oxen&quot;, to the modern money economy and digital banking. How was currency debased then, and how is it done today? + Money assumes private property and a division of labour, so cannot exist in a pure socialist society. I didn't mention it here much, but Lenin's attempts to abolish coinage/money and their inevitable return in the NEP's use of a gold standard are remarkable. Solzhenitsyn has of course written about it, as well as&amp;nbsp; Nikolai Shmelev &amp;amp; Vladmir Popev's book coming from the economists inside the communist party. They did not themselves stop believing socialism was inevitable.&amp;nbsp;&amp;nbsp; &quot;Hyperinflation in early Soviet Russia connotes a seven-year period of uncontrollable spiraling inflation in the early Soviet Union, running from the earliest days of the Bolshevik Revolution in November 1917 to the reestablishment of the gold standard with the introduction of the chervonets as part of the New Economic Policy. The inflationary crisis effectively ended in March 1924 with the introduction of the so-called &quot;gold ruble&quot; as the country's standard currency. The early Soviet hyperinflationary period was marked by three successive redenominations of its currency, in which &quot;new rubles&quot; replaced old at the rates of 10,000-to-1 (January 1, 1922), 100-to-1 (January 1, 1923), and 50,000-to-1 (March 7, 1924), respectively.&quot; The Soviet Union needed to essentially recreate the entire currency 5 times in 5 years, ending finally in a return to the gold standard, in order to recover from the absolute anarchy and countless human deaths caused by the destruction of the medium of exchange.&amp;nbsp; The Libtard Podcast http://libtard.libsyn.com/website <iframe title="Libsyn Player" style="border: none" src="//html5-player.libsyn.com/embed/episode/id/13731002/height/90/theme/custom/thumbnail/yes/direction/forward/render-playlist/no/custom-color/88AA3C/" height="90" width="600" scrolling="no" allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen></iframe> https://assets.libsyn.com/secure/item/13731002