Pirates rule the earth; by Flemming Funch, 7 December 1994.
In his book "Operating Manual for Spaceship Earth", in the chapter "Origins of Specialization", Buckminster Fuller tells the story about what he calls "The Great Pirates". This is my greatly shortened version of it:
[link to www.worldtrans.org
Go to the link to read the piece, my point is that credit as money replaced coinage partly as a result of pirates at sea and road bandits on the overland trade routes. If you as a businessman sent someone over the ocean or by overland caravan and the coinage was stolen, you lost your investment.
However, by using letters of credit and settlement at a bank (bank of international settlement), you could have the bullion transferred within a vault.
However, now it is presumed by the banks that they own both the bullion and the credit, and the government backs that opinion with force. The pirates and road bandits have stationary positions and send out strong armed men to assure you make some "voluntary" contributions to maintenance for the health and pension plans for the Pirates and Road Bandits Union. (P&RBU)
The next model for money must bypass the P&RBU in some fashion and be as large of an evolution in exchange as the invention of credit.