Some interesting tid-bits on where early financial terms came from

The history of money is so important for understanding where we are in today's monetary system. I find it interesting where the meanings for a lot of our financial terms come from. For instance; salt was used so much as money originally, that it is the root for the word "salary" which comes from salarium, meaning payment in salt. Banco means bench or table. Medieval moneylenders sat at benches. If a banker failed, their bench was broken — banca rotta = bankrupt. Credit is Latin and means "to believe or trust" as in you believe someone will pay you back. Fiat means "let it be done" or essentially I declare. Meaning, I declare this has value. Lets make a sentence and translate it: "Fiat money is created using credit" roughly translates into: "I declare this newly made money has value and you believe that it will be paid back eventually" Cheers and have a great weekend :) submitted by /u/JerryLeeDog [link] [comments]

Apr 11, 2025 - 18:29

The history of money is so important for understanding where we are in today's monetary system. I find it interesting where the meanings for a lot of our financial terms come from.

For instance; salt was used so much as money originally, that it is the root for the word "salary" which comes from salarium, meaning payment in salt.

Banco means bench or table. Medieval moneylenders sat at benches. If a banker failed, their bench was broken — banca rotta = bankrupt.

Credit is Latin and means "to believe or trust" as in you believe someone will pay you back.

Fiat means "let it be done" or essentially I declare. Meaning, I declare this has value.

Lets make a sentence and translate it:

"Fiat money is created using credit" roughly translates into**: "I declare this newly made money has value and you believe that it will be paid back eventually"**

Cheers and have a great weekend :)

submitted by /u/JerryLeeDog
[link] [comments]