Money originated as commodity money, but nearly all contemporary money systems are based on fiat money. Fiat money is without intrinsic use value as a physical commodity, and 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".
http://en.wikipedia.org/wiki/Money.
video source:
http://www.youtube.com/watch?v=ZPWH5TlbloU (full video)
http://theamericandreamfilm.com/
Link to this comment:
All Comments (0)