The first recorded use of paper currency in the world is believed to have occurred in China during the Tang Dynasty (618-907 AD). The Chinese used paper money in the form of “jiaozi,” which were paper notes issued by the government that could be exchanged for gold or silver. The jiaozi were used primarily as a means of exchange, but they also functioned as a way to store wealth, as they were easier to carry than heavy coins. The use of paper money eventually spread to other parts of the world, including Europe and the Americas, where it became an integral part of the financial system.

One of the craziest historical facts…

One of the craziest historical facts is that during the Tang Dynasty in China (618-907), Emperor Xuanzong had a favorite concubine named Yang Yuhuan who was renowned for her beauty and intelligence. Yang Yuhuan was so beloved by the Emperor that he is said to have neglected his duties and spent most of his time with her. This led to a period of political instability and economic decline in the empire, and it is thought to have contributed to the eventual fall of the Tang Dynasty.

Despite her beauty and intelligence, Yang Yuhuan’s influence on the Emperor had tragic consequences. She is said to have encouraged him to eliminate potential rivals for power and to engage in lavish spending, which drained the imperial treasury. Eventually, Yang Yuhuan’s actions and the Emperor’s infatuation with her led to a rebellion and a palace coup, and the Emperor was forced to flee the capital. Yang Yuhuan was captured and executed, and the Emperor died in exile several years later.