March 31, 2023


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Money Money Money .. What It Is Actually


The money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context.
The main functions of money are distinguished as: a medium of exchange; a unit of account;

a store of value; and, sometimes, a standard of deferred payment.
Any item or verifiable record that fulfills these functions can be considered as m0ney.-justplay18

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Money is historically an emergent market phenomenon establishing a commodity m0ney,

but nearly all contemporary money systems are based on fiat money.
Fiat money, like any check or note of debt, is without use value as a physical commodity.
It derives its value by being declared by a government to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for “all debts, public and private”.


The money supply of a country consists of currency (banknotes and coins) and,

depending on the particular definition used, one or more types of bank m0ney (the balances held in checking accounts,

savings accounts, and other types of bank accounts).
Bank m0ney, which consists only of records (mostly computerized in modern banking),

forms by far the largest part of broad m0ney in developed countries


The use of barter-like methods may date back to at least 100,000 years ago,

though there is no evidence of a society or economy that relied primarily on barter.
Instead, non-monetary societies operated largely along the principles of gift economy and debt.
When barter did in fact occur, it was usually between either complete strangers or potential enemies.

Many cultures around the world eventually developed the use of commodity m0ney.
The Mesopotamian shekel was a unit of weight, and relied on the mass of something like 160 grains of barley.
The first usage of the term came from Mesopotamia circa 3000 BC.

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