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  • 067 - History of Money

    Barter System

    • Barter system has been in existence since 6000 BC
    • Earliest forms of barter system had livestock trade (sheep, cattle, vegetables, grains)
    • It was first recorded in Egypt
    • Mesopotamia to Phoenicians and the Babylonians improved the system
    • Goods were exchanged for food, tea, weapons, and spices. Even human skulls were used. Salt was a very important trade commodity that Roman soldiers were paid with it.
    • Middle ages, Europeans traded crafts and fur for silks and perfumes.
    • Musket balls, wheat, and deer skins were used by colonial americans
    • The invention of money did not kill barter system. But it made it organised.
    • Barter system came back during the great depression of 1930s in a form similar to that of banks.
    • Disadvantages:

      • No certification of proof to show legitimacy of the person you are dealing with
      • It depends on trust
      • Possible exchange of bad commodities
      • Need a double coincidence of wants
      • No common measure of value
      • Storage issues high
      • Advantages:

        • No need of money
        • Flexibility that anything can be traded.
        • Does not have to be material items. You can exchange skills
        • Coin & Paper Currency

          • Currencies has been in existence for almost 3000 years
          • Chinese started using goods cast made from bronze (cutlery, arrows, spades, daggers)
          • They started using coins to avoid being impaled
          • First known minted currency was a roaring lion coin created by King Alyattes in Lydia (present Western Turkey)
          • It was made using a mixture of silver and gold which is called Electrum
          • Chinese came up with paper currency in 700 BC (Tang and Song Dynasty). These notes in the beginning where only temporarily valid.
          • By 1271 AD, the currency system in China was thriving. The government had took over shops which print currency and made state-issued currency. It was the time when Marco Polo visited the place.

          • Medieval Islamic world build a monetary system during 7th - 12th centuries (Dinar). They are the first to use credit, cheques, savings account, transactional accounts, exchange rates, promissory notes, banking institutions for loans and deposits, etc.

          • Manilla rings were used in West Africa since 15th century for slave trade.
          • Metal coins and Archimedes Principle - To test its purity
          • Europeans used coins up until the 16th century. And it was not until 1661, Europeans (Swedes) started using paper currency.
          • European paper notes could be exchanged at any banks for gold or silver coins
          • More than the government, it were the banks and private institutions who used to regulate the printing of currency
          • First issuance of currency happened in colonial North America so that the traders do not run out of money.
          • Paper currency improved international trade and also lead to conflicts between empires.

          • Impact of World Wars lead the countries involved to print currency out of proportion leading to inflation. The Great Depression of 1930s is a result of this.
          • Gold is set as the standard for printing currency.
          • Mobile and virtual currency - The move towards digital banking
          • Invented in 2009 by the the pseudonymous Satoshi Nakamoto, Bitcoin has become the gold standard of virtual currency.
          • Facts:

            • American - "In God we trust", Chinese - "All counterfeiters will be decapitated"
            • Currency helped improve Lydia's economy, but they were conquered by the Persians not long after.
            • In 1685, plating cards were signed and issued as currency by the governor for soldiers in France.
            • Coins made out of a mixture of metals were used in India.
              • Bijay’s Podcasting course
              • unsplash-logoSteve Johnson

                34 min
              • 066 - Dyatlov Pass Incident

                To the east of the Ural mountains, in Yekaterinburg city cemetery, there is a group grave of 9 members from a hiking group who died mysteriously.

                Timeline
                • Arrived by train at Ivdel a town at the centre of the northern province of Sverdlovsk Oblast on 25th January 1959.
                • Took a truck ride to Vizhai (last settlement towards the north).
                • Hikers purchased and had loaves of bread when they were in Vizhai to keep energy high.
                • Started trek towards Otorten from Vizhai on 27th January.
                • Yuri Yudin returned on 28th due to health issues.
                • On 31st, the hikers arrived at a highland area and started preparing for their climb. They saved surplus food in a wooded area for their return hike.
                • Snowstorms resulted in hikers being deviated from their intended path and ended up on the slopes of Kholat Syakhl (Dead Mountain).
                • Group decided to camp on the slopes of Kholat Syakhl instead of hiking all the way back into the wooded area about 1.5 km away. It is speculated that the group wanted to practice camping on a mountain slope.
                • Dyatlov had told his sports club that he would send a telegram from Vizhai no later than 12th February and that it might take even longer.
                • It was not until 20th that the relatives of the hikers demanded a search be conducted for the missing hikers.
                • The search party was mobilised and the military also took part in the search. On 26th of February, the search party found the tent that was used by the hikers.
                • The tent was torn from inside and the hikers were missing. All the belongings including warm clothing and shoes were left behind.
                • A set of footprints could be found heading away from the tent towards the woods, but after 500m, the tracks disappeared in the snow.
                • At the edge of the forest, under a Siberian Pine tree, there was a visible sign of a fire that was lit.
                • The first two bodies, Krivonischenko and Doroshenko were found shoeless near the fire site wearing only their underwears.
                • The tree also had visible marks of someone having climbed it, with branches up to 5 metres broken. Someone seems to have climbed the tree to either escape from something or to look at something in distance.
                • Further search in the snow between the camp and the pine tree revealed the bodies of Dyatlov, Kolmogorova and Slobodin. Their poses suggested that they were trying to return to the campsite perhaps for food and warm clothing. They were found at a distance of 300, 480 and 630 metres from the tree respectively.
                • The four remaining hikers were not found until 4th of May under 4 metres of snow around 75 metres away from the pine tree towards the woods. These four happened to be better dressed than others and the ones who died later were wearing the clothes of the ones who had died earlier. A hastily constructed den was found near the bodies.
                • Something happened on the night of 31st - 1st which lead to the death of all the hikers.
                • Inquiry
                  • An inquiry was started into the matter after the first five bodies were found. It was concluded that hypothermia was the reason for the deaths.
                  • The finding of the four bodies later presented puzzling details which changed the course of the inquest.
                  • Three of the four hikers had serious fatal injuries to the head and chest area.
                  • Doctors concluded that the force required to cause a similar injury would be something similar to that of a car hitting a person.
                  • Except for Dubinina who was missing her tongue, eyes, parts of lips and a part of the skull, no major external wounds were found on the bodies. It was later claimed that these injuries were a result of her being face down on the water.
                  • Theories
                    • The inquest concluded that all the hikers had died of a compelling natural force. The inquiry was stopped in May and all the files sent to secret archives.
                    • Mansi: Mansi do not frequently visit this area and the mountain and they were not territorial.
                    • Robbery: No valuables were taken from the tent or the hikers
                    • Animal attack: No attack marks or animal footprints. This area wasn’t a hunting ground for animals.
                    • Avalanche: Most possible explaination but since the
                    • Soviet Military Projects: Bomb testing would’ve startled he hikers or caused avalanche. Radioactivity was detected in one of the hikers. Conspiracy theorists state that some of the hikers might have come across a secret military project and would’ve been killed by the military or died when they were pursuide. Interestingly, the bodies were searched for radioactivity which under normal circumstances is not a normal test. This raises further suspicions.
                    • Govt. Coverup: Govt wanted the investigation to wrap up quickly. For three years after the incident, the area was closed for genral public.
                    • Infrasound Theory: Infrasound causing panic attack.
                    • Katabatic Winds: Strong winds blowing down the slope were also claimed to have taken the lives of the hikers.
                    • Out of control partying: Excessive partying with alcohol or drugs, causing disorientation amongst the hikers.
                    • Some hikers about 50km south of Dyatlov Pass who were hiking at the same time claim to have seen fireballs in the sky.

                      More information can be found here: Dyatlovpass.com

                      Image:

                      unsplash-logoTom Morel

                      49 min
                    • 065 - More Horror feat. Indian Noir.

                      Here is the second part of our conversation with Nikesh Murali, the producer of Indian Noir about horror and why humans are fascinated with the genre.

                      Find Nikesh online:

                      • Indian Noir
                      • Nikesh’s website
                      • unsplash-logosebastiaan stam

                        1 hr 15 min
                      • 063 - Is ejection seat a better alternative?.
                        What is ejection seat?

                        The ejection seat is a safety mechanism primarily used in aircraft to save a pilot or a passenger by propelling the seat out of the disabled aircraft.

                        • An explosive charge or rocket is used to propel the seat to a safe distance and a parachute takes care of the rest of the journey down to the ground.
                        • Everald Calthorp who earlier had invented parachutes devised an ejection seat that used compressed air.
                        • Romanian inventor Ananstase Dragomir proposed the modern layout for ejection seats in the late 1920s. The parachuted cell design was tested on 25 August 1929 in Paris and got the design patented.
                        • The technique used before ejection seat was to simply jump out of the aircraft which in most cases was difficult as it would cause injury and was dangerous.
                        • As with most of the things, World War II led to the development and perfection of parachutes.
                        • Heinkel and SAAB developed the ejection seat independently. These early models were compressed air powered seats. Heinkel HE 280, the prototype jet fighter, had an ejection system built into it.
                        • The Process

                          If there arises a scenario where ejection is imminent, the command “eject” is used as an early warning that a possible ejection is coming up in next 30 or so seconds. At the critical moment, the command “bailout” is used and the crew ejects.

                          The sequence:

                          • When the pilot activates the ejection system, first the canopy is blown off or opened.
                          • The pilot and the seat are launched through the opening.
                          • During ejection, a catapult propels the seat up the rails and then the rocket engine takes over.
                          • The canopy forms another part of the ejection system. Most of the aircraft are designed in a way where the canopy is blown off the aircraft. In some cases to avoid delay or seat hitting the canopy, a specially designed canopy filled with explosive charges embedded within the acrylic canopy which when initiated, shatters the canopy above and the seat is ejected a few seconds later.
                          • In some other aircraft without canopy, the seats are ejected through hatches. B-52 bombers had ejection seats that were ejected through the hatches, four in the roof and two on the floor.
                          • unsplash-logoVishu Gowda

                            29 min

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