Podcast Planet Money, Episode 742: Making Bank

From NPR:

During the Middle Ages, Christian pilgrims en route to Jerusalem had a problem. They needed to pay for food, transport and accommodation during their journey across Europe, which could take months. They also didn’t want to carry large amounts of precious coinage because they’d become a target for robbers. This became an obstacle to worship.

That’s where the Knights Templar stepped in. The Knights Templar were a bunch powerful monks who defended Christian pilgrims. They had a solution to this cash issue. Pilgrims could leave money safely protected with the Knights Templar in England and withdraw it in Jerusalem. No cash needed. Pilgrims could just carry a letter of credit. It was basically a private bank before there was anything else like it. This was a pretty modern idea.

Listen to the full podcast.

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Steven

My life has been pretty simple. I grew up in Alabama and graduated from the University of Alabama with a Bachelor's in Advertising. I have spent about the last ten years in web development. In 1998, a friend of mine and I started a web design company we ran for three or four years before deciding to close it due to the demands of school. Since then, I stayed in the web working with various companies in Alabama. I worked for a brief period with Southern Progress, namely with Southern Living magazine and Health magazine, in their web departments. While there, I also wrote for Southern Living magazine, Health.com., and the company's internal newsletter. I write as much as I can. For the last five years, I have been working on my first novel. I am on the third revision now and hope to be finished with this draft by the end of the year. I also write short fiction, though not as frequently as I used to due to the time I spend on the novel. My goal is to have my novel published in the next three years. Other interests include: History (particularly medieval and ancient civlizations), Reading, Foreign Language (I currently speak Spanish but plan to learn as many as I can), Landscape Photography, the outdoors, sports (especially college football), and Travel.

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