4:49 The use of printed paper money as a medium of exchange goes back in history many centurys and appears to have began in China 4:56 Marco Polo returned from China with a tale of how the emperor Kublai kahn has seems all the Gold in his domanie ant then issues pieces of paper with a value written on them  wich the people had to accept to face value this thing soon has found favour in other parts of the world 5:12 Goverments discover they can obtain money by simply printing paper, and they did so the results of Fiat money had always been disastress for the people who actually created the goods and services that existed. 