money

Money is a medium of exchange, a measure of value, a standard of deferred payment and a store of value. People have long argued that some of these definitions of money are in conflict with each other. For instance, a measure of value and a store of value mean the same thing to some people.

In the past, money was backed up by commodities, such as gold and silver. In the modern world, we use what is known as “fiat money," which is backed up (and valued) by a legal entity. Fiat translates into "government order." In the U.S., the legal entity controlling money is the Federal Reserve. Other major legal entities that perform this role are the European Central Bank, Bank of Japan, People’s Bank of China and the Bank of England.

The value of money traded in the international market. The value is based on market decisions, which change all the time. Some countries peg the value of their money to another larger (more accepted) currency. Money is traded in the Foreign Exchange Market, which is considered one of the most liquid markets in the world. The purpose of this market is to facilitate trade and investment.

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Original Technorati articles tagged “money”

• in Gaming
  Cost Versus Value in Gaming
  It's not a cost of $60 but a great value at $60
  by geotrax / on Jan 30, 2012
• in Social Media
  Unemployment numbers optimistic while many Americans not "gainfully" employed
  The 8.5% unemployment rate has been looked at by most as an improvement. Yet, many Americans are "under" employed.
  by theweeklystash / on Jan 22, 2012
• in Business
  You Gotta Know When to Hold 'Em
  Verizon's about-face over a proposed fee is just the latest in a series
  by oldgoat1957 / on Dec 31, 2011

Latest blogosphere posts tagged “money”

 

• Slashing benefits is a breeze when you disregard the detail

  
  The Guardian - guardian.co.uk — Authority: 962
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• Uneven E-book Growth Sees Lagardere Book Sales Slim

  
  paidContent:UK — Authority: 592
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• Uneven E-book Growth Sees Lagardere Book Sales Slim

  
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• Personal Finance Roundup

  
  Consumerist — Authority: 731
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  EBYX Center — Authority: 111
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• Having Crumpets With the Albatross And the Aardvark

  
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• Who deserves disability benefits? Everyone in physical need | Madeline Lewis

  
  Comment is free | guardian.co.uk — Authority: 131
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• 1 MILLION pounds of Food on 3 acres. 10000 fish 500 yards compost

  
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