The Sneaky COVID War on Cash

The modern road to mulberry money, shinplaster, and cubic currency

Yuan dynasty banknote (2 guàn) with its printing plate (1287), during Kublai Khan's rule. The smaller Chinese characters in the bottom half of the note say, "[This note] can be circulated in various provinces without expiration dates. Counterfeiters would be put to death." PHGCOM/Tokyo Currency Museum via Wikimedia Commons

Today’s world is awash with fiat money.

Fiat means “let it be so.”