Hosted by: Dr. Lyle Bowlin

In this episode, we explore the fascinating history of money—how it evolved from bartering systems and bead trading to bullion, Roman salaries, and beyond. You’ll learn how everyday items like seasoning became currency and how the word “salary” traces back to Roman soldiers’ pay. The journey from physical goods to abstract value highlights not just the creativity of early economies, but also the challenges they faced. Ultimately, the episode reveals one enduring truth: for money to work, we must believe in its value and trust the system behind it.

In this episode we cover:

• Before coins or credit cards there was bartering which had its challenges (1:54)
• People got paid in seasoning because they preserved food and had value (4:39)
• The first coins were minted in Turkey and revolutionized trade (11:27)
• The invention of paper money (11:27)
• The first banks were run by goldsmiths (13:23)
• The definition of interest rates and how the Fed governs it and why (20:46)
• Central banks don’t print the money commercial banks do through lending (28:45)
• Money is leaning toward going digital and redefining what money is (31:26)
• The entrance of cryptocurrency into the mix in 2009 (37:39)
• What is a token (39:29)

Links From the Show:

Allen & Company
Barter
Gold Standard
Interest Rate

Connect with:

Dr. Lyle Bowlin– Investment Strategist at Allen & Company
Allen & Company – Dr. Lyle Bowlin
LinkedIn – Dr. Lyle Bowlin

The opinions voiced in this program are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which strategies or investments may be suitable for you, consult an appropriate qualified professional prior to making a decision.