How Money Broke
The collapse of money in the west since World War I took place in stages. Below are some notable landmarks. The Original Definitions of Pound and Dollar The medieval definition of a pound (the British Pound) was literally one “Tower pound of Sterling silver,” which translated to 323.75 grams of pure silver. By the early 1700s, one pound was around 111.5 grams of pure silver. In 1717, Isaac Newton, the Master of the Mint, set one pound to 7.99 grams of pure gold. ...