Money presently may be defined as a current medium of exchange in the form of coins and banknotes; coins and banknotes collectively.
Middle English: from Old French moneie, from Latin moneta ‘mint, money,’ originally a title of the goddess Juno, in whose temple in Rome money was minted.
A simple definition could be : something (such as coins or bills) used as a way to pay for goods and services and to pay people for their work.
It has also been defined as "something generally accepted as a medium of exchange, a measure of value, or a means of payment: as:
- a : officially coined or stamped metal currency
- b : an amount of money
Currency is generally a system of money currently in general use in a particular country.
Money can be defined as any easily transportable, durable, divisible, recognizable and universally acceptable medium of exchange in which you can store your economic energy until you’re ready to deploy it.
Most of what is used as money today is nothing more than fiat currency.
Even though the penny is no longer made of copper it costs the U.S. Mint almost twice as much to produce them than the coins are actually worth. In fact, in one year, taxpayers lost over $100 million dollars just by producing pennies and nickles.
While silver coins are used to deter bacteria growth and keep milk from spoiling paper currency can successfully transport a live flu virus for over 2 weeks. It has been determined that 90% of all US currency carries some traces of cocaine and 94% carries pathogens and other contaminants like fecal matter.
On the Federal Reserve website they state Federal Reserve Notes have no value. This is true of almost of the 182 official currencies world wide. In the 1920s, Hyperinflation got so bad in the Wymar republic of Germany that it became more cost effective to burn currency for fuel than to use it to buy wood.
Under U.S.C Title 18; its against the law to write on, or in any way deface U.S. Currency. Although technically, a federal reserve note is not U.S. Currency but private banker paper. Only 8% of the world’s currency is actual physical paper. The rest is only digital entries in electronic devices on a screen.
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