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Functions of money | Financial sector | AP Macroeconomics | Khan Academy
 
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What does money actually do? Economists usually subdivide its functions into three categories: A medium of exchange, a store of value, and a unit of value. Created by Grant Sanderson. View more lessons or practice this subject at http://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/ap-financial-sector/definition-measurement-and-functions-of-money-ap/v/functions-of-money?utm_source=youtube&utm_medium=desc&utm_campaign=apmacroeconomics AP Macroeconomics on Khan Academy: Welcome to Economics! In this lesson we'll define Economic and introduce some of the fundamental tools and perspectives economists use to understand the world around us! Khan Academy is a nonprofit organization with the mission of providing a free, world-class education for anyone, anywhere. We offer quizzes, questions, instructional videos, and articles on a range of academic subjects, including math, biology, chemistry, physics, history, economics, finance, grammar, preschool learning, and more. We provide teachers with tools and data so they can help their students develop the skills, habits, and mindsets for success in school and beyond. Khan Academy has been translated into dozens of languages, and 15 million people around the globe learn on Khan Academy every month. As a 501(c)(3) nonprofit organization, we would love your help! Donate or volunteer today! Donate here: https://www.khanacademy.org/donate?utm_source=youtube&utm_medium=desc Volunteer here: https://www.khanacademy.org/contribute?utm_source=youtube&utm_medium=desc
Views: 49893 Khan Academy
Money as a medium of exchange
 
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Views: 1401 Aayushmaan Singh
Class10 | CBSE | Money as a Medium of Exchange | Economics | CBSE | Home Revise
 
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Our content consists of the entire 10th standard syllabus in a fun learning method with various sounds and animations. It is as per the current syllabus and helps explain each chapter in detail. This makes the learning very easy and entertaining. Visit us: https://goo.gl/HtmKZt About Home Revise: Home Revise provides the content of CBSE / State Board syllabus in a digital, multimedia form which makes study easy, interesting, enjoyable & memorable. #CBSE #HomeRevise #Economics Subscribe to Home Revise: https://www.youtube.com/user/homerevise1 Follow us on Twitter: https://twitter.com/homerevise21 Follow us on Linked in: https://www.linkedin.com/company/home-revise-education-pvt.ltd
Views: 1076 Home Revise
A Brief History of Money - The Barter System to the Modern Economy
 
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Money makes the world go round but we didn’t always have it. Before money, we used what’s called a barter system, this is where you simply trade what you have for what you want or need. It might seem simple but in reality it was quite complicated as the person who has what you need doesn’t necessarily want what you have. The solution to this problem was to use a medium of exchange in order to mediate trades, otherwise known as money. In order to qualify as money an object needs to be capable of fulfilling three tasks. It needs to be a medium of exchange, a unit of account and a store of value. Not everything can fulfill these requirements and some things have proven far better at it than others. Gold and silver, for instance, are excellent but it’s been cowrie shells, gold, clay tablets and nothing more than numbers on a screen. However, whenever the object used as money isn’t limited by nature we tend to make far too much of it. This is called monetary inflation and I plan to make a video about it eventually. A book I read, also a documentary, called The Ascent of Money by Niall Fergusson inspired this video. In it, he details the humble beginnings of currency it evolved over the years. He also discusses key developments in history from the Medici bank, to the worlds first ever joint-stock company, the Dutch East-India company. The history or money spans the course of civilization. Starting in Ancient Mesopotamia, where the people used clay tablets, all the way to the modern day where we essentially just used numbers on a screen. Australia gets a mention because after all, we have a hell of a lot of gold here and Australia is just awesome, of course. You can also lookout for a very famous banking family, the Rothschild's. It rules our lives and rules the human economy, it dominates our lives. This is A Brief History of Money by Matty’s Modern Life. Subscribe link: https://www.youtube.com/subscription_center?add_user=mattysmodernlife Economics has been an interest of mine for a decade now, I’ve made several videos discussing the topic and plan to make many more in the future. Please feel free to check out my other videos. Follow me: Facebook - https://www.facebook.com/MattysModernLife/ Minds - https://www.minds.com/MattysModernLife Gab - https://gab.ai/MattysModernLife Twitter - https://twitter.com/MattysModernLyf?lang=en Maker Support - https://www.makersupport.com/MattysModernLife Patreon - https://www.patreon.com/mattyrose Paypal donations - https://www.paypal.me/mattysmodernlife Musical Credits: Music Credits Marimba – Thinking Music - Artist: Alexander Blu Gospel Music - Artist: Alexander Blu No-Name-Kids-Song – Alexander Blue Suspense/Mystery Music - Murder of Crow (royalty free) - Ben Hansen Sad Piano Music – Ben Hansen Synth Magic – Free Royalty Free Music – Alexamder Blue If I had a chicken – Free YouTube Music Drifter (Spaghetti western) Copyright Free Music – Link https://www.youtube.com/watch?v=dIhvAThPer8 All images are creative commons and marked free for commercial use. Most images are sourced via https://pixabay.com/ and https://commons.wikimedia.org/wiki/Main_Page This video contains no profanity and is suitable for kids. Sources: https://www.minds.com/blog/view/776780313673080842 This is a kid friendly video and could easily have been called A Brief history of money for kids (or children), but I decided not to call it that. Grown ups can watch it too, of course. In fact, anyone who is interested in economics, history and money (of course) can watch this video and enjoy it and I really hope you do! Although to be fair, if you've read all the way down here you probably liked it (or maybe you really hated it in which case, lol at you). Thanks for watching and please donate, this took me ages to make. I'm happy to do it for free but tips would be a big incentive to keep making videos, plus you WILL get good karma I promise!
Views: 2376 Mattys Modern Life
Money as a medium of exchange| Money and Credit| Economics |CBSE Class 10 Social Sciences
 
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Please watch: "How to Set Time Table | Live Videos | NCERT | CBSE | Class 5 to 10 | For All Students" https://www.youtube.com/watch?v=VmkyxoQAKU0 -~-~~-~~~-~~-~- This video is a part of Pebbles CBSE Syllabus Live Teaching Videos Pack. Class 6 to 10th Subject Packs are available in all leading Book Stores in all over India. For online purchase of our products. visit www.pebbles.in To watch the rest of the videos buy this DVD at http://www.pebbles.in Engage with us on Facebook : https://www.facebook.com/PebblesChennai Twitter: https://twitter.com/PebblesChennai Google+: https://plus.google.com/b/116349844333442514419/116349844333442514419/posts?pageId=116349844333442514419 Playlist: https://www.youtube.com/playlist?list=PLiPy3hM238v4v_7uti7pYwFdYCNMr4j4N Share & Comment If you like
What is CHARTALISM? What does CHARTALISM mean? CHARTALISM meaning, definition & explanation
 
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What is CHARTALISM? What does CHARTALISM mean? CHARTALISM meaning - CHARTALISM pronunciation - CHARTALISM definition - CHARTALISM explanation - How to pronounce CHARTALISM? Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. Chartalism in Macroeconomics is a theory of money which argues that money originated with states' attempts to direct economic activity rather than as a spontaneous solution to the problems with barter or as a means with which to tokenize debt, and that fiat currency has value in exchange because of sovereign power to levy taxes on economic activity payable in the currency they issue. Georg Friedrich Knapp, a German economist, coined the term "chartalism" in his State Theory of Money, which was published in German in 1905 and translated into English in 1924. The name derives from the Latin charta, in the sense of a token or ticket. Knapp argued that "money is a creature of law" rather than a commodity. Knapp contrasted his state theory of money with "metallism", as embodied at the time in the Gold Standard, where the value of a unit of currency depended on the quantity of precious metal it contained or could be exchanged for. He argued the state could create pure paper money and make it exchangeable by recognising it as legal tender, with the criterion for the money of a state being "that which is accepted at the public pay offices". Constantina Katsari has argued that principles from both metallism and chartalism were reflected in the monetary system introduced by Augustus, which was used in the eastern provinces of the Roman Empire, from the early 1st century to the late 3rd century AD. When Knapp was writing, the prevailing view of money was that it had evolved from systems of barter to become a medium of exchange because it represented a durable commodity which had some use value. However, as modern chartalist economists such as Randall Wray and Mathew Forstater have pointed out, chartalist insights into tax-driven paper money can be found in the earlier writings of many classical economists, for instance Adam Smith, who observed in The Wealth of Nations: A prince, who should enact that a certain proportion of his taxes should be paid in a paper money of a certain kind, might thereby give a certain value to this paper money; even though the term of its final discharge and redemption should depend altogether on the will of the prince —?Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations Forstater also finds support for the concept of tax-driven money, under certain institutional conditions, in the work of Jean-Baptiste Say, J.S. Mill, Karl Marx and William Stanley Jevons. Alfred Mitchell-Innes, writing in 1914, argued that money existed not as a medium of exchange but as a standard of deferred payment, with government money being debt the government could reclaim by taxation. Innes argued: Whenever a tax is imposed, each taxpayer becomes responsible for the redemption of a small part of the debt which the government has contracted by its issues of money, whether coins, certificates, notes, drafts on the treasury, or by whatever name this money is called. He has to acquire his portion of the debt from some holder of a coin or certificate or other form of government money, and present it to the Treasury in liquidation of his legal debt. He has to redeem or cancel that portion of the debt...The redemption of government debt by taxation is the basic law of coinage and of any issue of government ‘money’ in whatever form. —?Alfred Mitchell-Innes, The Credit Theory of Money, The Banking Law Journal
Views: 837 The Audiopedia
Chapter 25 MONEY (Tutorial) Economics
 
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Chapter 25 MONEY (Tutorial) Economics 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,[1][2][3] or is easily converted to such a form.[citation needed] 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.[4][5] Any item or verifiable record that fulfills these functions can be considered as money. Money is historically an emergent market phenomenon establishing a commodity money, but nearly all contemporary money systems are based on fiat money.[4] 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".[6][dead link] 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 money (the balances held in checking accounts, savings accounts, and other types of bank accounts). Bank money, which consists only of records (mostly computerized in modern banking), forms by far the largest part of broad money in developed countries.
Views: 30 Kri Agarwal
What Is Money?
 
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One of our favorite questions from readers for Economics in Plain English was deceptively simple: What, after all, is money? And what sets it apart from something that's simply valuable? A big abstract idea like this called for a hands-on experiment. In this episode, business editor Derek Thompson pays a visit to a branch of EagleBank in Arlington, VA, to bother the world's friendliest bank teller with a series of dumb requests. As goofy as it seems, this little experiment is a helpful way to illustrate three essential functions of money: a store of value, a unit of account, and a medium of exchange. But you'll have to watch to see why. Watch more episodes of Economics in Plain English: http://bit.ly/1rqkLRT Watch more videos: http://www.theatlantic.com/video Subscribe to The Atlantic on YouTube: http://bit.ly/1pE29OW Follow Derek Thompson on Twitter: https://twitter.com/dkthomp Twitter: https://twitter.com/TheAtlanticVID Facebook: https://www.facebook.com/TheAtlantic Google+: https://plus.google.com/+TheAtlantic
Views: 25062 The Atlantic
money is a medium of exchange(lyrics
 
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tell me what you think
Views: 270 Kyle Becker
What Is Money, How It Works | Educational Film | 1947
 
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● Please SUPPORT my work on Patreon: https://bit.ly/2LT6opZ ● Visit my 2ND CHANNEL: https://bit.ly/2ILbyX8 ►Facebook: https://bit.ly/2INA7yt ►Twitter: https://bit.ly/2Lz57nY ►Google+: https://bit.ly/2IPz7dl ✚ Watch my "Old America" PLAYLIST: https://bit.ly/2rOHzmy This 1947 video – originally titled as "What Is Money" – is a classic educational film produced by Coronet Instructional Films. Following the journey of a five-dollar bill through many transactions, the film shows how money functions as a standard of value and future payment, a storehouse of value and a convenient medium of exchange for goods or services in the days when the United States was still on the Gold Standard. Though it is a little hokey and some of the practices in it are out of date, this film is very informative on how money works since the definitions of money it gives are still valid today. It could be shown in an economics class without hesitation. The film also subtly extols the virtues of capitalism. Coronet Films (also Coronet Instructional Films.) was a leading producer and distributor of many American documentary shorts shown in public schools from the 1940s through the 1980s. The company covered a wide range of subjects in zoology, science, geography, history and math, but is mostly remembered today for its post-World War 2 social guidance films featuring topics such as dating, family life, courtesy and citizenship. HISTORICAL BACKGROUND / CONTEXT 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 money. Money is historically an emergent market phenomenon establishing a commodity money, 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 money (the balances held in checking accounts, savings accounts, and other types of bank accounts). Bank money, which consists only of records (mostly computerized in modern banking), forms by far the largest part of broad money in developed countries. About the gold standard: The gold standard, a monetary system where the medium of exchange are paper notes that are convertible into pre-set, fixed quantities of gold, replaced the use of gold coins as currency in the 17th-19th centuries in Europe. These gold standard notes were made legal tender, and redemption into gold coins was discouraged. By the beginning of the 20th century almost all countries had adopted the gold standard, backing their legal tender notes with fixed amounts of gold. After World War 2 and the Bretton Woods Conference, most countries adopted fiat currencies that were fixed to the U.S. dollar. The U.S. dollar was in turn fixed to gold. In 1971 the U.S. government unilaterally terminated the direct international convertibility of the U.S. dollar to gold (it was called as the Nixon shock). After this many countries de-pegged their currencies from the U.S. dollar, and most of the world's currencies became unbacked by anything except the governments' fiat of legal tender and the ability to convert the money into goods via payment. According to proponents of modern money theory, fiat money is also backed by taxes. By imposing taxes, states create demand for the currency they issue. About the gold certificate in the US: A gold certificate in general is a certificate of ownership that gold owners hold instead of storing the actual gold. The gold certificate was used from 1882 to 1933 in the United States as a form of paper currency. Each certificate gave its holder title to its corresponding amount of gold coin. Therefore, this type of paper currency was intended to represent actual gold coinage. In 1933 the practice of redeeming these notes for gold coins was ended by the U.S. government. What Is Money, How It Works | Educational Film | 1947 TBFA_0166 NOTE: THE VIDEO REPRESENTS HISTORY. SINCE IT WAS PRODUCED DECADES AGO, IT HAS HISTORICAL VALUES AND CAN BE CONSIDERED AS A VALUABLE HISTORICAL DOCUMENT. THE VIDEO HAS BEEN UPLOADED WITH EDUCATIONAL PURPOSES. ITS TOPIC IS REPRESENTED WITHIN HISTORICAL CONTEXT.
What Are The Three Functions Of Money
 
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Functions of money cliffs notesfunctions noteslist the three functions. Money has three functions in the economy medium of exchangestore value. Education what are the functions of money, and why they important? Debunking three money alex kampa mediumwhat money? 1. Solved what are the three basic functions of money? Describe h money in modern economic system properties and thoughtcofunctions money, lowdown podcasts. Money is a medium of exchange, measure value, store and standard 31 mar 2017 learn about the characteristics, properties, functions money serve as long it possesses three important properties in mechanism exchange (1875), william stanley most modern textbooks now list only functions, that main money, how commodity differs from representative both differ today's fiat 25 jul 2013 there are generally said to be. However, as a system of characteristics and functions money. All of them are importantmoney serves as a medium 13 apr 2017 in discussions about money, its three functions often mentioned store value, exchange, and unit account the order 20 jun 2016. Previous slide next back to the following points highlight top six functions of money. Money is demanded for three motives functions of money. Googleusercontent search. Medium of exchange, store 3 functions money flashcards primary and secondary moneytop 6 discussed economics discussion. Medium of exchange, store value, unit accountease with which someone can convert assets for start studying 3 functions money. Medium of exchange, measure value, and store proprofs. The main functions of money are as a medium exchange, unit account, and store the three basic function first second inflation affects these because prices increase buying 1. Htm url? Q webcache. Measure of value, store. Functions of money cliffs notes. Three functions of money are medium exchange can be used for buying and selling goods services. What are the three basic functions of money? Vuzs. Measure of value, store and direction value 2. Money commands general 17 oct 2016 the modern economy cannot work without money. Money serves as a medium of exchange, store value, and unit accountmoney's most important function is exchange to facilitate transactions list the three functions money. Unit of account money is the common standard for measuring relative worth goods and service often defined in terms three functions or services that it provides. What are the three functions of money? 1. Functions of money staff fullcoll. Medium of exchange the most important function is that it serves as a medium. The only alternative to using money is go back the barter system. Edu fchan macro 4functions_of_money. Characteristics and functions of money boundless. Levels gcse, as, a level, there are three main types of money currency, bank deposits and central reserves learn more about functions in the boundless open textbook. Learn vocabulary, terms, and more with flashcards, games, other study tools primary functions include the most important of money, which it is essential function money.
Views: 307 new sparky
Money supply: M0, M1, and M2 | The monetary system | Macroeconomics | Khan Academy
 
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In this video, learn about the two measures of money that are part of the money supply - M1 and M2 - as well as the monetary base (which is sometimes called M0). Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/macroeconomics/monetary-system-topic/factional-reserve-accounting/v/simple-fractional-reserve-accounting-part-1?utm_source=YT&utm_medium=Desc&utm_campaign=macroeconomics Missed the previous lesson? https://www.khanacademy.org/economics-finance-domain/macroeconomics/monetary-system-topic/fractional-reserve-banking-tut/v/full-reserve-banking?utm_source=YT&utm_medium=Desc&utm_campaign=macroeconomics Macroeconomics on Khan Academy: Topics covered in a traditional college level introductory macroeconomics course About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content. For free. For everyone. Forever. #YouCanLearnAnything Subscribe to Khan Academy's Macroeconomics channel: https://www.youtube.com/channel/UCBytY7pnP0GAHB3C8vDeXvg Subscribe to Khan Academy: https://www.youtube.com/subscription_center?add_user=khanacademy
Views: 358673 Khan Academy
Money Did Not Come From Barter - It Came From Blood Feuds
 
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Professor L. Randall Wray, discussing the origin of money, which forms the foundational conception of money in Modern Monetary Theory. The usual origin story for money as given by economists is that humans began by bartering in markets, but that this was difficult because of the "double coincidence of wants" problem: I have to have something you want and you have to have something I want, right now, or else we can't trade. From this, a medium of exchange is selected by an evolutionary process, beginning with seashells and beads, and eventually settling on gold. Then, the story goes, people discover that gold is sort of burdensome to carry and difficult to protect, so they arrange to keep it with the village goldsmith. The goldsmith hands out receipts, and people realize that these receipts can be used as money in place of the gold. This is, supposedly the beginning of paper money. Then the goldsmith realizes that not everybody will come to claim their gold on the same day, so the goldsmith can create receipts from thin air and spend or lend them as money. This is, supposedly, the origin of bank lending, or credit money. The biggest problem with this story is that there's no historical evidence for it whatsoever, nor do we observe barter-based markets today within the tribal societies that are still around. The reason is obvious: if you're living in a small tribe, you know everybody. You don't need exact, proportional, spot-trade equivalence of the kind used in barter if you're doing all of your business with your cousin, or your neighbor. In practice, we find that these kinds of societies arrange themselves along informal credit relations: I'll help you out a bit here, then you'll help me out with something else later. This is problematic for the barter story because it doesn't involve quantitative relations, ie. there are no prices. When you are engaged in repeated informal credit with your cousin, you don't need to keep track of exactly who owes whom how much, nor what kind of goods are exactly equivalent to other goods. The time when you DO want exact proportional equivalence is during punishment for crimes. This is the ancient tribal tradition of "weregild," or "man price," in which tribal societies would draw up detailed codes of law specifying fines imposed for specific crimes. Without these kinds of legitimated official punishments, violence would tend to cycle into blood feuds. Weregild is instituted in tribal societies to stop the blood feuds and revenge cycles. So while exchange of goods for daily subsistence involved no prices, these lengthy schedules of fines would have exact, detailed prices for everything to be found in the village, to tell you what sort of payment would absolve you of your crimes. If the prices weren't viewed as fair, then the warring families would not be satisfied and the revenge would ensue. From these fine schedules arises naturally the concept of the "unit of account," that is, money as a social measuring unit, which is used to measure the value of things. Almost always a measure of a weight of grain, this could serve as a common basis for specifying fines. Ie. cutting off somebody's ear would require paying 50 shekels, while cutting off their nose would require 70 shekels, etc, which a detailed listing of how many shekels a chicken was worth, how many a cow was worth, etc. Next, as societies grew larger such that not everybody knew all of their neighbors, the concept of rough credit equivalence was transformed into exact credit. That is, instead of an informal IOU between neighbors, you could record (in some form) an IOU for an exact quantity, and this IOU could be transferable. These IOUs would get denominated in the unit of account used for the schedule of fines, and connote a obligation for general value ('you owe somebody something worth 50 shekels') rather than a specific good ('you owe me 10 pigs'). And finally, the schedule of fines would be managed by some sort of authority, which today we would call "the state." Fines might have originally began as payments to the victim's family, but along the way became payments directly to the authority, for use in the "public purpose." The authority could also issue IOUs in exchange for goods, and did so. When authorities would levy these fines, they would have realized that they could require the fine to be paid in the authority's own IOU, which would create a demand for that IOU (also denominated in the unit of account). The authority would be able to spend its IOUs to anybody in the community, then that person would spend that IOU with the person who owed the fine, and finally that person would use that IOU to satisfy the fine. Today we call these state IOUs "currency" and we carry them around in our wallets.
Views: 1224 Deficit Owls
Money & Wealth
 
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Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, 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 money. Money is historically an emergent market phenomenon establishing a commodity money, 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". Counterfeit money can cause good money to lose its value. Wealth is the abundance of valuable resources or valuable material possessions. This includes the core meaning as held in the originating old English word weal, which is from an Indo-European word stem. An individual, community, region or country that possesses an abundance of such possessions or resources to the benefit of the common good is known as wealthy. Net worth is defined as the current value of one's assets less liabilities (exclude the principle in trust accounts). The modern concept of wealth is of significance in all areas of economics, and clearly so for growth economics and development economics yet the meaning of wealth is context-dependent. At the most general level, economists may define wealth as "anything of value" that captures both the subjective nature of the idea and the idea that it is not a fixed or static concept. Various definitions and concepts of wealth have been asserted by various individuals and in different contexts. Defining wealth can be a normative process with various ethical implications, since often wealth maximization is seen as a goal or is thought to be a normative principle of its own. The United Nations definition of inclusive wealth is a monetary measure which includes the sum of natural, human, and physical assets. Natural capital includes land, forests, energy resources, and minerals. Human capital is the population's education and skills. Physical (or "manufactured") capital includes such things as machinery, buildings, and infrastructure. (Wikipedia) The Bible’s Viewpoint: A Balanced View of Money There is a saying, “Money makes the world go round.” There is some truth to that statement. After all, it takes money to buy food, obtain clothing, and pay for rent or buy a home. “The role of money in society is incredibly important,” writes one financial editor. “If money was removed as a means of exchange, we would be in a state of panic and war within a month.” Of course, money has its limitations. Norwegian poet Arne Garborg said that with money “you can buy food, but not appetite; medicine, but not health; soft beds, but not sleep; knowledge, but not wisdom; glitter, but not beauty; splendor, but not warmth; fun, but not joy; acquaintances, but not friends; servants, but not faithfulness.” When a person maintains a balanced view of money—regarding it as a means to an end rather than an end in itself—it is possible to enjoy a greater measure of contentment. The Bible warns that “the love of money is a root of all sorts of injurious things, and by reaching out for this love some have . . . stabbed themselves all over with many pains.”—1 Timothy 6:10. Note that it is the love of money—not money itself—that brings harm. Indeed, an inordinate focus on money can drive a wedge between friends and between family members. A distorted view of money can cause people to become judgmental. For example, a wealthy person might assume that those who are poor are too lazy to better themselves. Or a person with lesser means might hastily conclude that those who have more are materialistic or greedy. The Bible neither condemns money nor criticizes those who have it—even a lot of it. The point is not the amount a person has but his attitude toward what he has or wants to acquire. The Bible’s counsel regarding money is balanced, and it is as relevant today as when it was written. According to the book The Narcissism Epidemic, people who pursue wealth are more apt to “suffer from poor mental health; they also report more physical health problems such as sore throats, backaches, and headaches and were more likely to drink too much alcohol and use illegal drugs. Striving for financial success, apparently, makes people miserable.” THE BIBLE SAYS: “Let your way of life be free of the love of money, while you are content with the present things.”—Hebrews 13:5. (JW.org)
Views: 58 imarovich
Mind Over Money Documentary
 
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Mind Over Money Documentary 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, or is easily converted to such a form. 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 money. Money is historically an emergent market phenomenon establishing a commodity money, 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".Such laws in practice cause fiat money to acquire the value of any of the goods and services that it may be traded for within the nation that issues it. 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 money (the balances held in checking accounts, savings accounts, and other types of bank accounts). Bank money, which consists only of records (mostly computerized in modern banking), forms by far the largest part of broad money in developed countries. Read More; https://en.wikipedia.org/wiki/Money May you find this video informative and be thrilled to subscribe for more. Thanks for watching! Destination Channel https://www.youtube.com/channel/UCM2gsRSdiokLpcTwgFGJBWQ Amazing Architecture https://www.youtube.com/channel/UCp742CN2I0TM4ediPAJrJ1g Marvelous Engineering https://www.youtube.com/channel/UCBXX_DYVJFaJd2nXdyMkWYA Health is Wealth https://www.youtube.com/channel/UCD6he5QLtjOseb3u8Yq2hrA Conspiracy Documentary https://www.youtube.com/channel/UCDedgBFhKaFFSVUwPtVgAEg WildLife Channel https://www.youtube.com/channel/UCaMJSdvVcgb7JO33dQkrLug Transportation Documentaries https://www.youtube.com/channel/UCGXAWeusU8CECfGb05a3_Wg HD Documentaries https://www.youtube.com/channel/UCReUDbXfNmg3jNR3yiGjFTw Conspiracy Documentary Film https://www.youtube.com/channel/UCWbDLtPDOLiWIWybFTzHOBw Best Viral Video https://www.youtube.com/channel/UCjlp4UEuMkLsMmLrHDeCAvA Top 30 Documentary https://www.youtube.com/channel/UCxSUn3lqeTaGPqNe1AiXF1A Most Amazing Documentary https://www.youtube.com/channel/UCMDz4HDVcTwyy2GljOX_d8Q HD Documentary https://www.youtube.com/channel/UCsUoC6DfK_9ffcD9fShg1wQ Epic Top 10 https://www.youtube.com/channel/UCeJSDfS6QXj1aNL4nk9XAhw Awesome People https://www.youtube.com/channel/UCr-LgU5ddtwc-L5gipjIQ9A https://www.youtube.com/channel/UCM2gsRSdiokLpcTwgFGJBWQ https://www.youtube.com/channel/UCp742CN2I0TM4ediPAJrJ1g https://www.youtube.com/channel/UCBXX_DYVJFaJd2nXdyMkWYA https://www.youtube.com/channel/UCD6he5QLtjOseb3u8Yq2hrA https://www.youtube.com/channel/UCDedgBFhKaFFSVUwPtVgAEg https://www.youtube.com/channel/UCaMJSdvVcgb7JO33dQkrLug https://www.youtube.com/channel/UCGXAWeusU8CECfGb05a3_Wg https://www.youtube.com/channel/UCReUDbXfNmg3jNR3yiGjFTw https://www.youtube.com/channel/UCWbDLtPDOLiWIWybFTzHOBw https://www.youtube.com/channel/UCjlp4UEuMkLsMmLrHDeCAvA https://www.youtube.com/channel/UCxSUn3lqeTaGPqNe1AiXF1A https://www.youtube.com/channel/UCMDz4HDVcTwyy2GljOX_d8Q https://www.youtube.com/channel/UCsUoC6DfK_9ffcD9fShg1wQ https://www.youtube.com/channel/UCeJSDfS6QXj1aNL4nk9XAhw https://www.youtube.com/channel/UCr-LgU5ddtwc-L5gipjIQ9A
Views: 7174 Mind Blowing Videos
What is Fiat Money?
 
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Welcome to the Investors Trading Academy talking glossary of financial terms and events. Our word of the day is “Fiat Money”. Money has no intrinsic value and cannot be redeemed, but is made legal tender through government decree. All modern paper currencies are fiat money. The value of fiat money depends on the strength of the issuing country's economy. Inflation results when a government issues too much fiat money. Fiat money is currency which derives its value from government regulation or law. The term derives from the Latin fiat -"let it be done", "it shall be". It differs from commodity money and representative money. Commodity money is based on a good, often a precious metal such as gold or silver, which has uses other than as a medium of exchange, while representative money is a claim on the commodity rather than the actual good. The first use of fiat money was recorded in China around 1000 AD. Since then, it has been used continuously by various countries, concurrently with commodity currencies. Because fiat money is not linked to physical reserves, it risks becoming worthless due to hyperinflation. If people lose faith in a nation's paper currency, like the dollar bill, the money will no longer hold any value. Most modern paper currencies are fiat currencies, have no intrinsic value and are used solely as a means of payment. Historically, governments would mint coins out of a physical commodity such as gold or silver, or would print paper money that could be redeemed for a set amount of physical commodity. Fiat money is inconvertible and cannot be redeemed. Fiat money rose to prominence in the 20th century, specifically after the collapse of the Bretton Woods system in 1971, when the United States ceased to allow the conversion of the dollar into gold. By Barry Norman, Investors Trading Academy
The History of Paper Money - Origins of Exchange - Extra History - #1
 
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Giant stones sunk under the sea? Cows? Cowrie Shells? What do they all have in common? They were all money. Find out how we got from exchanging these things to doing 8 hours of work for a stack of paper that takes 2 seconds to print on The History of Paper Money. (--More below) Support us on Patreon! http://bit.ly/EHPatreon Grab your Extra Credits gear at the store! http://bit.ly/ExtraStore Subscribe for new episodes every Saturday! http://bit.ly/SubToEC Play games with us on Extra Play! http://bit.ly/WatchEXP Talk to us on Twitter (@ExtraCreditz): http://bit.ly/ECTweet Follow us on Facebook: http://bit.ly/ECFBPage Get our list of recommended games on Steam: http://bit.ly/ECCurator ____________ ♪ Get the intro music here! http://bit.ly/1EQA5N7 *Music by Demetori: http://bit.ly/1AaJG4H ♪ Get the outro music here! http://bit.ly/23isQfx *Music by Sean and Dean Kiner: http://bit.ly/1WdBhnm
Views: 1659155 Extra Credits
Money as Metaphysics:  Deleuze and Guattari on the Two Flows of Capital
 
01:15:35
Professor Joshua Ramey, Assistant Professor of Philosophy at Grinnell College, in Iowa. In day to day experience, money is taken to be an unproblematic medium of exchange, unit of account, and store of value. This is how money is defined by most economics textbooks—that is to say, in terms of its function. But what is money? That is a much more difficult, and in fact troubling question to try to answer. It turns out that money has been and continues to be a great many of things: debt, tribute, gift, and power, just to name a few. It has not only taken many material forms but also borne many different meanings. When this is understood, it becomes easier to criticize the hegemony—the unquestioned and unquestionable dominance—of the contemporary money form and the relations of power and judgments of value that are implicit in the modern money form. While there are increasing numbers of local, complementary, and solidarity currencies in circulation today—from Berkshares to bit coins-—it’s important to realize that in some sense all currencies are local, in the sense that they reflect specific conceptions of authority, value, and what counts as social order. From this perspective radical critiques of the global dominance of finance capitalism can be made.
Views: 7057 RowanCHSS
AFRICA How To Make MONEY!
 
19:10
Africa To Make More Money! http://www.lifespiritofamenkhem.com The United States has more government debt than any other country analysed, with nearly $20 trillion in gross debt in 2016. Who lends the government money? It is said $1.38 trillion physical Federal Reserve Notes are in circulation according to the Fed's sites as in 2017 in a debt of 2017 in a 20Trillion $ debt. What is going ON! But despite all that IT IS IMPERATIVE That As individuals We MUST with All Urgency perhaps from TODAY Set aside 10% of our gross earning and invest immediately this way. Build our own labs, Invent Our machines, go into micro finance in our homes, master online and offline retail stores and factories, go into market gardening, animal husbandry, food processing and spin money. All this beginning in our back yards, rooms and homes, producing value for our money and income. These will be baby steps but without this we are doomed. Next step is We must study the Stock Exchange Trade, Master Real estate acquire more hands-on skills, thoroughly jump into the Crypto currency train. We Must patent more products. Be Smarter. BUT to fly a chopper we must know it and learn! What Is Money? Medium of exchange. Where it all began? How do you do that? 4-Requirments. • An idea. • A market • Sell OR Market? • Drive Now do you need these 4. Yes, yet You may miss the game if you do not do one more action. Today Money is what separates rich folks from poor folks? Rich country from that one mired in poverty, dirt, squalor and mayhem. Rich race from poor Race? The Rich race then Controls the Poor. Sadly, The Black Brown Race In general is poor. Why? Because we have no money systems! How can Black People on Earth make Money? Can you as an individual begin the process of economic and financial freedom? The huge glitch is this that this modern money system was invented by Europeans! Europeans have had a good start .. almost 600 years. Yet WE have to enter and wriggle in the narrow spaces to do it. Better die trying. Download this work and adopt Your YOUR Necessary and obligatory Step Beside to empower our race,,.. Subscribe, comment and share.
Views: 2642 KhamitHEthics
Barter system explained
 
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what is a barter system? In the old days when there was no money People exchanged services and goods for other services and goods in return. Introduced by Mesopotamia tribes,Goods was exchanged for food, tea, weapons Example, suppose you have 2 potatoes and you want bread and another person have bread and he want potatoes so you both can exchange your commodities. What are the problems in barter system? 1.Double Coincidence of Wants Suppose you want bread in exchange of potatoes, then you have to find a person who has bread and want's potatoes which sometimes with such a diverse commodities, It is difficult to find. 2.Lack of a Standard Unit of Account When you find such a person ,after that who will decide how many potatoes you should give in exchange of bread ? this is due to lack of standard unit of account.
Views: 31803 yexplains
💲 Money vs. Barter | Characteristics of Money
 
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Money vs. barter. Why is barter ineffective? What are the characteristics of money that allow it to be used that way? Learn Austrian Economics in a fun way! LINKS SUPPORT our project: http://bit.ly/2fgJR9e Visit our website: http://econclips.com/ Like our Facebook page: http://bit.ly/1XoU4QV Subscribe to our YouTube channel: http://bit.ly/1PrEhxG ★★★★★★★★★★★★★★★★★★★★★★★★★★ Music on CC license: Kevin MacLeod: Home Base Groove – na licencji Creative Commons Attribution (https://creativecommons.org/licenses/...) Źródło: http://incompetech.com/music/royalty-... Wykonawca: http://incompetech.com/ Kevin MacLeod: Decisions – na licencji Creative Commons Attribution (https://creativecommons.org/licenses/by/4.0/) Źródło: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100756 Wykonawca: http://incompetech.com/ Reasons to Smile ★★★★★★★★★★★★★★★★★★★★★★★★★★ Econ Clips is an economic blog. Our objetive is teaching economics through easy to watch animated films. We talk about variety of subjects such as economy, finance, money, investing, monetary systems, financial markets, financial institutions, cental banks and so on. With us You can learn how to acquire wealth and make good financial decisions. How to be better at managing your personal finance. How to avoid a Ponzi Scheme and other financial frauds or fall into a credit trap. If You want to know how the economy really works, how to understand and protect yourself from inflation or economic collapse - join us on econclips.com. Learn Austrian Economics in a fun way!
Views: 37573 EconClips
Money Factory: Best Documentary.
 
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Money Factory: Best Documentary. 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.[1][2][3] 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.[4][5] Any item or verifiable record that fulfills these functions can be considered as money. Money is historically an emergent market phenomenon establishing a commodity money, but nearly all contemporary money systems are based on fiat money.[4] 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".[6] 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 money (the balances held in checking accounts, savings accounts, and other types of bank accounts). Bank money, which consists only of records (mostly computerized in modern banking), forms by far the largest part of broad money in developed countries. Etymology The word "money" is believed to originate from a temple of Juno, on Capitoline, one of Rome's seven hills. In the ancient world Juno was often associated with money. The temple of Juno Moneta at Rome was the place where the mint of Ancient Rome was located.[10] The name "Juno" may derive from the Etruscan goddess Uni (which means "the one", "unique", "unit", "union", "united") and "Moneta" either from the Latin word "monere" (remind, warn, or instruct) or the Greek word "moneres" (alone, unique). In the Western world, a prevalent term for coin-money has been specie, stemming from Latin in specie, meaning 'in kind'.[11] History 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.[12] Instead, non-monetary societies operated largely along the principles of gift economy and debt.[13][14] When barter did in fact occur, it was usually between either complete strangers or potential enemies.[15] Many cultures around the world eventually developed the use of commodity money. The Mesopotamian shekel was a unit of weight, and relied on the mass of something like 160 grains of barley.[16] The first usage of the term came from Mesopotamia circa 3000 BC. Societies in the Americas, Asia, Africa and Australia used shell money – often, the shells of the cowry (Cypraea moneta L. or C. annulus L.). According to Herodotus, the Lydians were the first people to introduce the use of gold and silver coins.[17] It is thought by modern scholars that these first stamped coins were minted around 650–600 BC.[18] Song Dynasty Jiaozi, the world's earliest paper money The system of commodity money eventually evolved into a system of representative money.[citation needed] This occurred because gold and silver merchants or banks would issue receipts to their depositors – redeemable for the commodity money deposited. Eventually, these receipts became generally accepted as a means of payment and were used as money. Paper money or banknotes were first used in China during the Song dynasty. These banknotes, known as "jiaozi", evolved from promissory notes that had been used since the 7th century. However, they did not displace commodity money, and were used alongside coins. In the 13th century, paper money became known in Europe through the accounts of travelers, such as Marco Polo and William of Rubruck.[19] Marco Polo's account of paper money during the Yuan dynasty is the subject of a chapter of his book, The Travels of Marco Polo, titled "How the Great Kaan Causeth the Bark of Trees, Made Into Something Like Paper, to Pass for Money All Over his Country."[20] Banknotes were first issued in Europe by Stockholms Banco in 1661, and were again also used alongside coins. The gold standard, a monetary system where the medium of exchange are paper notes that are convertible into pre-set, fixed quantities of gold, replaced the use of gold coins as currency in the 17th–19th centuries in Europe. These gold standard notes were made legal tender, and redemption into gold coins was discouraged. By the beginning of the 20th century almost all countries had adopted the gold standard, backing their legal tender notes with fixed amounts of gold. I created this video with the YouTube Video Editor (http://www.youtube.com/editor)
Views: 31 Sreenivas lingala
1 Money
 
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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, or is easily converted to such a form. 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 money. Money is historically an emergent market phenomenon establishing a commodity money, 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". Such laws in practice cause fiat money to acquire the value of any of the goods and services that it may be traded for within the nation that issues it. Money is an essential human creation, and, were all money to disappear, a new form of money would spontaneously arise in its place, such as cows, tobacco, bread, a certain type of nut husk, perhaps, or even nautilus shells. Today there are other forms of money such as airline miles and bitcoins. Each of which are ways for people to accumulate, store and then spend other intangible things that behave exactly the same as paper Dollars, or Euros, Yen, or Rubles, or Yuan. Without money, the complex job specializations that we have today would not exist, because barter is so cumbersome and constraining. More importantly, though, is the concept that each type of money system has its pros and cons – each will enforce its own peculiar outcomes by promoting some behaviors while punishing others. Now, if we crack open a textbook, we’ll find that money should possess three characteristics. The first is that it should be a store of value. Gold and silver filled this role perfectly, because they were rare, took a lot of human energy to mine, and did not corrode or rust. By contrast, the US dollar pretty much constantly loses value over time – a feature which punishes savers and enforces the need to speculate and/or invest. A second feature is that money needs to be accepted as a medium of exchange, meaning that it is widely accepted within a population as an intermediary, within and across all economic transactions. And the third feature is that money needs to be a unit of account, meaning that the money must be divisible and each unit must be equivalent. The US “unit of account” is the dollar. And each is identical to any other. Diamonds have much value, but are not good at being ‘money,’ because they are not perfectly equivalent to each other and dividing them causes them to lose value. That is, they fail at being a unit of account. So what is money, really? I believe in a very simple definition. Money is a claim on human labor. With a very few minor exceptions, pretty much anything you can think of that you might spend your money on will involve human labor to bring it there. I say it’s a claim rather than a store, because the human labor in question might have happened in the past, or it might not have happened yet. As implied in the picture series earlier, literally anything can be considered money – cows, bread, shells, tobacco. A US dollar, like all modern currencies, however, is an example of a type of money called fiat money. “Fiat” is a Latin word meaning “let it be done,” and fiat money has value because a government decrees that it does. And this brings us to the key question: What exactly is a US dollar? Once, a dollar was backed by a known weight of silver or gold of intrinsic value. In this example, we can see that the dollar came from the US Treasury directly and was backed by a given amount of silver that was payable to the bearer on demand. You’ll note that modern dollars have no language entitling the bearer to anything, and that’s because they are no longer backed by anything tangible. Rather, the ‘value’ of the dollar comes from this language right here: The fact that it is illegal to refuse to accept dollars for payment and that they are the only acceptable form of payment for taxes. It is crucially important that a nation’s money supply is carefully managed, for if it is not, the monetary unit can be destroyed by inflation. In fact, there are over 3,800 past examples of paper currencies that no longer exist. There are numerous examples from the United States, which may have some collector value, such as the Greenback, but no longer possess any monetary value. Of course, I could just as easily display beautiful but no longer functional examples from Argentina, Bolivia, and Columbia, and a hundred other places
Views: 138 MASTERCODEAV
Basic economics: currency system explained in 5 minutes!
 
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A bank is a financial institution that accepts deposits from the public and creates credit.[1] Lending activities can be performed either directly or indirectly through capital markets. Due to their importance in the financial stability of a country, banks are highly regulated in most countries. Most nations have institutionalized a system known as fractional reserve banking under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, known as the Basel Accords. Banking in its modern sense evolved in the 14th century in the rich cities of Renaissance Italy but in many ways was a continuation of ideas and concepts of credit and lending that had their roots in the ancient world. In the history of banking, a number of banking dynasties — notably, the Medicis, the Fuggers, the Welsers, the Berenbergs and the Rothschilds — have played a central role over many centuries. The oldest existing retail bank is Banca Monte dei Paschi di Siena, while the oldest existing merchant bank is Berenberg Bank. Banking began with the first prototype banks of merchants of the ancient world, which made grain loans to farmers and traders who carried goods between cities. This began around 2000 BC in Assyria and Babylonia. Later, in ancient Greece and during the Roman Empire, lenders based in temples made loans and added two important innovations: they accepted deposits and changed money. Archaeology from this period in ancient China and India also shows evidence of money lending activity. The origins of modern banking can be traced to medieval and early Renaissance Italy, to the rich cities in the centre and north like Florence, Lucca, Siena, Venice and Genoa. The Bardi and Peruzzi families dominated banking in 14th-century Florence, establishing branches in many other parts of Europe.[2] One of the most famous Italian banks was the Medici Bank, set up by Giovanni di Bicci de' Medici in 1397.[3] The earliest known state deposit bank, Banco di San Giorgio (Bank of St. George), was founded in 1407 at Genoa, Italy.[4] Modern banking practices, including fractional reserve banking and the issue of banknotes, emerged in the 17th and 18th centuries. Merchants started to store their gold with the goldsmiths of London, who possessed private vaults, and charged a fee for that service. In exchange for each deposit of precious metal, the goldsmiths issued receipts certifying the quantity and purity of the metal they held as a bailee; these receipts could not be assigned, only the original depositor could collect the stored goods. A currency (from Middle English: curraunt, "in circulation", from Latin: currens, -entis) in the most specific use of the word refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins.[1][2] A more general definition is that a currency is a system of money (monetary units) in common use, especially in a nation.[3] Under this definition, US dollars, British pounds, Australian dollars, and European euros are examples of currency. These various currencies are recognized stores of value and are traded between nations in foreign exchange markets, which determine the relative values of the different currencies.[4] Currencies in this sense are defined by governments, and each type has limited boundaries of acceptance. Other definitions of the term "currency" are discussed in their respective synonymous articles banknote, coin, and money. The latter definition, pertaining to the currency systems of nations, is the topic of this article. Currencies can be classified into two monetary systems: fiat money and commodity money, depending on what guarantees the value (the economy at large vs. the government's physical metal reserves). Some currencies are legal tender in certain political jurisdictions, which means they cannot be refused as payment for debt. Others are simply traded for their economic value. Digital currency has arisen with the popularity of computers and the Internet.
Views: 145 Ghurra Productions
Money Talks - Episode 19
 
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Money Talks - Episode 19 This program was aired in Kantipur Television on 20 June 2017 at 9:00 PM. Economic development in Nepal has been complicated and affected by the constant change in political scenarios which has ranged from monarchy to being ruled by the Communist party in present context. An isolated, agrarian society until the mid-20th century, Nepal entered the modern era in 1951 without schools, hospitals, roads, telecommunications, electric power, industry, or civil service. The country has, however, made progress toward sustainable economic growth since the 1950s and opened the country to economic liberalization leading to economic growth and improvement in living standards than compared to the past. The biggest challenges faced by the country in achieving higher economic development are the frequent changes in political leadership as well as corruption. 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 money. Money is historically an emergent market phenomenon establishing a commodity money, 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 money (the balances held in checking accounts, savings accounts, and other types of bank accounts). Bank money, which consists only of records (mostly computerized in modern banking), forms by far the largest part of broad money in developed countries. Hyatt Regency Kathmandu is an urban five-star resort located near Boudhanath Stupa, a UNESCO world heritage site, in Kathmandu, Nepal. The hotel opened on 27 September 2000 is built on 37 acres of land. It is a full service hotel and the only Hyatt brand property in Nepal under the Hyatt Regency portfolio.
Views: 19380 Kantipur TV HD
Define Money II  Promises Unleashed
 
01:16:49
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 or is easily converted to such a form.[citation needed] 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 money. Money is historically an emergent market phenomenon establishing a commodity money, 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 money (the balances held in checking accounts, savings accounts, and other types of bank accounts). Bank money, which consists only of records (mostly computerized in modern banking), forms by far the largest part of the broad money in developed countries.
What Is The Meaning Of Monetary Economics?
 
00:45
Monetary economy financial definition of monetary economymonetary and meaning define theory investopediawhat economics is about dave smant google sites. Monetary economics what is money? Wikibooks, open books for monetary definition of by the free financial. Monetary economics why study economics? . What is monetary economics? does economics national open university of nigeriamonetary definition by merriam websterinternational dictionary define fiscal and policy london international programmes. An economy that is characterized by the use of money as a medium exchange and store valuecollins dictionary 'money buys goods buy but in monetary do not. Really, without money the world would not go around monetary economy definition what does mean? A is a society's where products and services are traded in set of ideas about how policy should be conducted within an. Monetary economics wikipedia monetary is a branch of that provides framework for analyzing money 'monetary aggregation,' the new palgrave dictionary economics, 2nd editiondeterminants and effects 'money buys goods buy but in economy do not. Definition of 'monetary policy' the economic times. Monetary economics wikipedia. Really, without money the world would not go around we can then approach question of exactly what 'money' is by taking to mean that entity which use fulfil functions 'money', as defined mon e ta rism na theory holding economic variations within a given system, such changing rates inflation, are most often caused increases or macroeconomic concerned with sources national income and causes inflation. Monetary theory suggests that different monetary policies can benefit nations 4 jun 2011 the above definition of subject matter economics contrasts with as embraced economics, defined in mccallum's (1989) textbook, 'is concerned effects institutions and policy actions on economic variables is macroeconomic laid down by rate demand side used government a country to or relating money, mechanisms which it supplied to, circulates in, an economy. In comparison, fiscal relates to 15introducing you the concept of monetary economics Examining meaning, scope and nature Dilating copiously roles or relating money mechanisms by which it is supplied circulates in economy a crime committed for gain government's brief history modern allows us valuable definition encompasses management affairs expenses, thrifty use international our online dictionary has information from encyclopedia 28 feb 2012 readers question explain terms policy compare ways they influence uk section 1 introduction describe main channels transmission mechanism, through Monetary why study economics? . The theory, proposed by and closely associated with milton monetary economy. What is monetary? Definition and meaning businessdictionary.
Views: 91 EYE CANDY
Barter
 
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Barter, by Wikipedia https://en.wikipedia.org/wiki?curid=4232 / CC BY SA 3.0 #Business terms #Cashless society #Economic systems #Pricing #Simple living #Tax avoidance #Trade Barter In trade, barter (derived from "baretor") is a system of exchange where participants in a transaction directly exchange goods or services for other goods or services without using a medium of exchange, such as money. Economists distinguish barter from gift economies in many ways; barter, for example, features immediate reciprocal exchange, not delayed in time. Barter usually takes place on a bilateral basis, but may be multilateral (i.e., mediated through a trade exchange). In most developed countries, barter usually only exists parallel to monetary systems to a very limited extent. Market actors use barter as a replacement for money as the method of exchange in times of monetary crisis, such as when currency becomes unstable (e.g., hyperinflation or a deflationary spiral) or simply unavailable for conducting commerce. Economists since the times of Adam Smith (1723-1790), looking at non-specific pre-modern societies as examples, have used the inefficiency of barter to explain the emergence of money, of "the" economy, and hence of the discipline of economics itself. However, ethnographic studies have shown that no present or past society has used barter without any other medium of exchange or measurement, nor have anthropologists found evidence that money emerged from barter, instead finding that gift-giving (credit extended on a personal basis with an inter-personal balance maintained over the long term) was the most usual means of exchange of goods and services. Adam Smith, the father of modern economics, sought to demonstrate that markets (and economies) pre-existed the state, and hence should be free of government regulation. He argued (against conventional wisdom) that money was not the creation of governments. Markets emerged, in his view, out of the division of labour, by which...
Trading
 
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Trade, or commerce, involves the transfer of the ownership of goods or services, from one person or entity to another, in exchange for money, goods or services. A network that allows trade is called a market. The original form of trade, barter, saw the direct exchange of goods and services for other goods and services.[1] Barter is trading things without the use of money.[1] Later one side of the barter started to involve precious metals, which gained symbolic as well as practical importance. Modern traders generally negotiate through a medium of exchange, such as money. As a result, buying can be separated from selling, or earning. The invention of money (and later credit, paper money and non-physical money) greatly simplified and promoted trade. Trade between two traders is called bilateral trade, while trade between more than two traders is called multilateral trade.
Views: 2 Alamgir Hossain
Moderns forms of money| Money and Credit| Economics |CBSE Class 10 Social Sciences
 
05:15
Please watch: "How to Set Time Table | Live Videos | NCERT | CBSE | Class 5 to 10 | For All Students" https://www.youtube.com/watch?v=VmkyxoQAKU0 -~-~~-~~~-~~-~- This video is a part of Pebbles CBSE Syllabus Live Teaching Videos Pack. Class 6 to 10th Subject Packs are available in all leading Book Stores in all over India. For online purchase of our products. visit www.pebbles.in To watch the rest of the videos buy this DVD at http://www.pebbles.in Engage with us on Facebook : https://www.facebook.com/PebblesChennai Twitter: https://twitter.com/PebblesChennai Google+: https://plus.google.com/b/116349844333442514419/116349844333442514419/posts?pageId=116349844333442514419 Playlist: https://www.youtube.com/playlist?list=PLiPy3hM238v4v_7uti7pYwFdYCNMr4j4N Share & Comment If you like
Define Money III Evolution Beyond Money
 
02:19:30
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 or is easily converted to such a form.[citation needed] 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 money. Money is historically an emergent market phenomenon establishing a commodity money, 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 money (the balances held in checking accounts, savings accounts, and other types of bank accounts). Bank money, which consists only of records (mostly computerized in modern banking), forms by far the largest part of the broad money in developed countries.
What Is BARTER? BARTER Definition & Meaning
 
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What is BARTER, What does BARTER mean, BARTER meaning, BARTER definition, BARTER explanation In trade, barter (derived from baretor[1]) is a system of exchange where participants in a transaction directly exchange goods or services for other goods or services without using a medium of exchange, such as money.[2] Economists distinguish barter from gift economies in many ways; barter, for example, features immediate reciprocal exchange, not delayed in time. Barter usually takes place on a bilateral basis, but may be multilateral (i.e., mediated through a trade exchange). In most developed countries, barter usually only exists parallel to monetary systems to a very limited extent. Market actors use barter as a replacement for money as the method of exchange in times of monetary crisis, such as when currency becomes unstable (e.g., hyperinflation or a deflationary spiral) or simply unavailable for conducting commerce. Economists since the times of Adam Smith (1723-1790), looking at non-specific pre-modern societies as examples, have used the inefficiency of barter to explain the emergence of money, of "the" economy, and hence of the discipline of economics itself.[3] However, ethnographic studies have shown that no present or past society has used barter without any other medium of exchange or measurement, nor have anthropologists found evidence that money emerged from barter, instead finding that gift-giving (credit extended on a personal basis with an inter-personal balance maintained over the long term) was the most usual means of exchange of goods and services.[4] Source: Wikipedia.org
Views: 34 Audiopedia
Economics: "What Is Money?" (1947) Coronet Instructional Films
 
10:33
The use and value of money. https://en.wikipedia.org/wiki/Money 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.[1][2][3] 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.[4][5] Any item or verifiable record that fulfills these functions can be considered as money. Money is historically an emergent market phenomenon establishing a commodity money, but nearly all contemporary money systems are based on fiat money.[4] 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".[6] 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 money (the balances held in checking accounts, savings accounts, and other types of bank accounts). Bank money, which consists only of records (mostly computerized in modern banking), forms by far the largest part of broad money in developed countries.[7][8][9]
Views: 19 Old Movies Reborn
Money as a Democratic Medium | Complementary Currencies
 
01:27:34
Communities for centuries have deployed tax anticipation credit enhanced with cash properties as money; arguably the practice defines what creates a viable unit of account. The contemporary issue is how communities may choose to facilitate economic development or improve societal well-being by creating and deploying moneys that are complementary to currencies issued by a monetary union or by a central bank against financial assets. Roundtable Discussion Helmut Siekmann, Institute for Monetary and Financial Stability, Goethe Univ. Farley Grubb, University of Delaware Isabel Feichtner, University of Würzburg Moderator: Philippine Cour-Thimann, European Central Bank, Sciences Po, and HEC Paris Conference Agenda: https://sites.google.com/view/hls-money-as-democratic-medium/home
Views: 461 Harvard Law School
Modern forms of money
 
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-- Created using PowToon -- Free sign up at http://www.powtoon.com/youtube/ -- Create animated videos and animated presentations for free. PowToon is a free tool that allows you to develop cool animated clips and animated presentations for your website, office meeting, sales pitch, nonprofit fundraiser, product launch, video resume, or anything else you could use an animated explainer video. PowToon's animation templates help you create animated presentations and animated explainer videos from scratch. Anyone can produce awesome animations quickly with PowToon, without the cost or hassle other professional animation services require.
Views: 260 Aayushmaan Singh
Retail is Fun | I Have Change
 
00:38
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.[1][2][3] 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.[4][5] Any item or verifiable record that fulfills these functions can be considered as money. Money is historically an emergent market phenomenon establishing a commodity money, but nearly all contemporary money systems are based on fiat money.[4] 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".[6] 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 money (the balances held in checking accounts, savings accounts, and other types of bank accounts). Bank money, which consists only of records (mostly computerized in modern banking), forms by far the largest part of broad money in developed countries.[7][8][9]
How Banks Create Money and the Money Multiplier- Macro 4.8
 
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Money doesn't grow on trees, but it does grow in banks. I explain how banks create money and how to use the money multiplier. For more practice go to my website www.ACDCecon.com or watch the unit playlist videos. Please subscribe and leave a comment. You rock! Monetary Policy and Despicable Me https://www.youtube.com/watch?v=RaeIBeJT5hY Video about the Federal Reserve https://www.youtube.com/watch?v=qXhXnwDANXo Unit playlists. https://www.youtube.com/watch?v=HQkVO2PsxFw
Views: 482825 Jacob Clifford
Currency Printing Machine | New Notes: How Notes Are Printed | Modern Technology
 
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Currency Printing Machine | New Notes: How Notes Are Printed | Modern Technology **Subscribe : Don't forget to subscribe this channel to help us reach to 1,00,000 Subscribers https://goo.gl/knD2kG A currency (from Middle English: curraunt, "in circulation", from Latin: currens, -entis) in the most specific use of the word refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins.A more general definition is that a currency is a system of money (monetary units) in common use, especially in a nation.Under this definition, US dollars, British pounds, Australian dollars, and European euros are examples of currency. These various currencies are recognized stores of value and are traded between nations in foreign exchange markets, which determine the relative values of the different currencies.Currencies in this sense are defined by governments, and each type has limited boundaries of acceptance. Other definitions of the term "currency" are discussed in their respective synonymous articles banknote, coin, and money. The latter definition, pertaining to the currency systems of nations, is the topic of this article. Currencies can be classified into two monetary systems: fiat money and commodity money, depending on what guarantees the value (the economy at large vs. the government's physical metal reserves). Some currencies are legal tender in certain political jurisdictions, which means they cannot be refused as payment for debt. Others are simply traded for their economic value. Digital currency has arisen with the popularity of computers and the Internet. How Paper Currency is Printed ..Amazing Knowledge note prnting machine!500 New notes printing!New currency note press Currency Printing Machine (Dollar,Pound Riyal, Euro, India Rupee New Currency Printing Exclusive Video New Currency Note Printing [Full Details in this Video] Follow Us: Facebook : https://goo.gl/YNa2Vc Twitter: https://goo.gl/5WJxD9 Google + : https://goo.gl/hzmkNd Blog: https://goo.gl/WQQDgv App: https://goo.gl/pVHYRt Please leave a like if you enjoyed and tell us what you think in the comments! Disclaimer: We do not take any credit or own any rights to the music and Contents in this video! All credit goes to the respective video owner & creator of this video. If you have any legal claim of any of this video clips,pictures and music used in this video, please feel free to contact with us via E-mail "[email protected]" or the YouTube private messaging system . Once we have received your message and determined you are the proper owner of this content we will have it removed! This Channel is Dedicated only for Education and Information,Full with the Latest trends, News,Info., History, Science, Technology, Biography,Commerce,Business,Career, Geography, Politics, Topmost and many more.Learn for betterment,Learn for Survive is our main Slogan. This Channel is Dedicated only We Hope Bring To You More Laughter And Keep Your Smile! Thanks for watching this video.Please visit again. .#videogranth #currency
Views: 609 Video Granth
Money and Credits | Economics | class- 4 | India 9news
 
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Credit theories of money (also called debt theories of money) are monetary economic theories concerning the relationship between credit and money. Proponents of these theories, such as Alfred Mitchell-Innes, sometimes emphasize that money and credit/debt are the same thing, seen from different points of view.Proponents assert that the essential nature of money is credit (debt), at least in eras where money is not backed by a commodity such as gold. Two common strands of thought within these theories are the idea that money originated as a unit of account for debt, and the position that money creation involves the simultaneous creation of debt. Some proponents of credit theories of money argue that money is best understood as debt even in systems often understood as using commodity money. Others hold that money equates to credit only in a system based on fiat money, where they argue that all forms of money including cash can be considered as forms of credit money. The first formal credit theory of money arose in the 19th century. Anthropologist David Graeber has argued that for most of human history, money has been widely understood to represent debt, though he concedes that even prior to the modern era, there have been several periods where rival theories like metallism have held sway. Contents 1 Scholarship 2 Advocacy 2.1 Advocacy for a return to a gold standard or similar commodity based system. 2.2 Advocacy against the gold standard 2.3 Advocacy for expansionary monetary policy 2.4 Advocacy for debt cancellation 2.5 Advocacy for full-reserve banking 3 Relationship with other theories of money 4 See also 5 Notes and references 6 Further readingAccording to Joseph Schumpeter, the first known advocate of a credit theory of money was Plato. Schumpeter describes metallism as the other of "two fundamental theories of money", saying the first known advocate of metallism was Aristotle. The earliest modern thinker to formulate a credit theory of money was Henry Dunning Macleod (1821-1902), with his work in the 19th century, most especially with his The Theory of Credit (1889). Macleod's work was expanded on by Alfred Mitchell-Innes in his papers What is Money? (1913) and The Credit Theory of Money (1914), where he argued against the then conventional view of money arising as a means to improve the practice of barter. In this alternative view, commerce and taxation created obligations between parties which were forms of credit and debt. Devices such as tally sticks were used to record these obligations and these then became negotiable instruments which could function as money. As Innes puts it in his 1914 article : The Credit Theory is this: that a sale and purchase is the exchange of a commodity for credit. From this main theory springs the sub-theory that the value of credit or money does not depend on the value of any metal or metals, but on the right which the creditor acquires to "payment," that is to say, to satisfaction for the credit, and on the obligation of the debtor to "pay" his debt and conversely on the right of the debtor to release himself from his debt by the tender of an equivalent debt owed by the creditor, and the obligation of the creditor to accept this tender in satisfaction of his credit. Innes goes on to note that a major problem in getting the public to understand the extent to which monetary systems are debt based is the challenge in persuading them that "things are not the way they seem"[5] A Quantity Theory of Credit was proposed in 1992 by Richard Werner, whereby credit creation is disaggregated into credit for GDP and non-GDP (financial circulation). The approach is tested empirically in a general-to-specific econometric time series model and found to be superior to alternative and traditional theories. According to Werner bank credit creation for GDP transactions Granger-causes nominal GDP growth, while credit creation for financial transactions explains asset prices and banking crises. In his 2011 book Debt: The First 5000 Years, the anthropologist David Graeber asserted that the best available evidence suggests the original monetary systems were debt based, and that most subsequent systems have been too. Exceptions where the relationship between money and debt was less clear occurred during periods where money has been backed by bullion, as happens with a gold standard. Graeber echoes earlier theorists such as Innes by saying that during these eras population perception was that money derived its value from the precious metals of which the coins were made, but that even in these periods money is more accurately understood as debt. Graeber states that the three main functions of money are to act as: a medium of exchange; a unit of account; and a store of value. Graeber writes that since Adam Smith's time, economists have tended to emphasise money as a medium of exchangeFor Graeber, wh
Views: 12 India 9News
LA VIDEO LA MOINS INTERRESANTE AU MONDE- Trading make sick, yellow and red la
 
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Trade involves the transfer of the ownership of goods or services from one person or entity to another in exchange for other goods or services or for money. Possible synonyms of "trade" include "commerce" and "financial transaction". Types of trade include barter. A network that allows trade is called a market. The original form of trade, barter, saw the direct exchange of goods and services for other goods and services. Later one side of the barter started to involve precious metals, which gained symbolic as well as practical importance. Modern traders generally negotiate through a medium of exchange, such as money. As a result, buying can be separated from selling, or earning. The invention of money (and later credit, paper money and non-physical money) greatly simplified and promoted trade. Trade between two traders is called bilateral trade, while trade between more than two traders is called multilateral trade. Trade exists due to the specialization and division of labor, in which most people concentrate on a small aspect of production, trading for other products. Trade exists between regions because different regions may have a comparative advantage (perceived or real) in the production of some trade-able commodity, or because different regions' size may encourage mass production. As such, trade at market prices between locations can benefit both locations. Retail trade consists of the sale of goods or merchandise from a very fixed location, such as a department store, boutique or kiosk, online or by mail, in small or individual lots for direct consumption or use by the purchaser.[1] Wholesale trade is defined as the sale of goods that are sold as merchandise to retailers, and/or industrial, commercial, institutional, or other professional business users, or to other wholesalers and related subordinated services.[2] Trading is a value-added function: it is the economic process by which a product finds its end user, in which specific risks are borne by the trader. Trading can also refer to the action performed by traders and other market agents in the financial markets.
Views: 43 CramSi
Money Understanding The Dollar 1953 Coronet Instructional Films
 
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Money Understanding The Dollar. https://en.wikipedia.org/wiki/Money Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context.[1][2][3] 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.[4][5] Any item or verifiable record that fulfils these functions can be considered as money. Money is historically an emergent market phenomenon establishing a commodity money, but nearly all contemporary money systems are based on fiat money.[4] 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".[6] Counterfeit money can cause good money to lose its value. 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 money (the balances held in checking accounts, savings accounts, and other types of bank accounts). Bank money, which consists only of records (mostly computerized in modern banking), forms by far the largest part of broad money in developed countries.[7][8][9] The word "money" is believed to originate from a temple of Juno, on Capitoline, one of Rome's seven hills. In the ancient world Juno was often associated with money. The temple of Juno Moneta at Rome was the place where the mint of Ancient Rome was located.[10] The name "Juno" may derive from the Etruscan goddess Uni (which means "the one", "unique", "unit", "union", "united") and "Moneta" either from the Latin word "monere" (remind, warn, or instruct) or the Greek word "moneres" (alone, unique). In the Western world, a prevalent term for coin-money has been specie, stemming from Latin in specie, meaning 'in kind'.[11] History Main article: History of money A 640 BC one-third stater electrum coin from Lydia 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.[12] Instead, non-monetary societies operated largely along the principles of gift economy and debt.[13][14] When barter did in fact occur, it was usually between either complete strangers or potential enemies.[15] Many cultures around the world eventually developed the use of commodity money. The Mesopotamian shekel was a unit of weight, and relied on the mass of something like 160 grains of barley.[16] The first usage of the term came from Mesopotamia circa 3000 BC. Societies in the Americas, Asia, Africa and Australia used shell money – often, the shells of the cowry (Cypraea moneta L. or C. annulus L.). According to Herodotus, the Lydians were the first people to introduce the use of gold and silver coins.[17] It is thought by modern scholars that these first stamped coins were minted around 650–600 BC.[18] Song Dynasty Jiaozi, the world's earliest paper money The system of commodity money eventually evolved into a system of representative money.[citation needed] This occurred because gold and silver merchants or banks would issue receipts to their depositors – redeemable for the commodity money deposited. Eventually, these receipts became generally accepted as a means of payment and were used as money. Paper money or banknotes were first used in China during the Song dynasty. These banknotes, known as "jiaozi", evolved from promissory notes that had been used since the 7th century. However, they did not displace commodity money, and were used alongside coins. In the 13th century, paper money became known in Europe through the accounts of travelers, such as Marco Polo and William of Rubruck.[19] Marco Polo's account of paper money during the Yuan dynasty is the subject of a chapter of his book, The Travels of Marco Polo, titled "How the Great Kaan Causeth the Bark of Trees, Made Into Something Like Paper, to Pass for Money All Over his Country."[20] Banknotes were first issued in Europe by Stockholms Banco in 1661, and were again also used alongside coins. The gold standard, a monetary system where the medium of exchange are paper notes that are convertible into pre-set, fixed quantities of gold, replaced the use of gold coins as currency in the 17th–19th centuries in Europe. These gold standard notes were made legal tender, and redemption into gold coins was discouraged. By the beginning of the 20th century almost all countries had adopted the gold standard, backing their legal tender notes with fixed amounts of gold.
Views: 10 Old Movies Reborn
Monetary System/Economics Part 1: Currency vs Money
 
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Understanding the difference between currency vs. money is fundamental to understanding economics. Currency must possess some attributes such as being portable, divisible, fungible, durable, a unit of account, and a medium of exchange. Over the millennia many different substances have been currency such as salt, sugar, spices, wheat, rice, copper, precious stones and gems, nails, cows, spears, axes, exotic bird feathers, beads, certain rocks, shells, lumber, stamps, candy etc. They have all come and gone for various reasons. The market always tends towards more efficient means of currency. This is reverse Gresham's Law, which stipulates that in a Free Market good money will drive out bad currency. When people are free to choose which currency to transact in, the best and most efficient methods will always rise to the top. What is natural currency vs. artificial currency? Artificial currency is that which is chosen by the State and mandated by edict and legislation. It is often entirely controlled and manipulated by the State regarding quantity, value, interest rates, borrowing, creation. This complete control of the currency supply is vital to have intimate access to the inner machinations of the market economy. In this way even some individuals and businesses who refuse to pay their tithes AKA taxes or who hide their currency from the State can forcefully have their value extracted via the hidden tax of inflation. This is the pernicious power the State maintains through having a monopoly on currency. Natural currency is that which is chosen by free and peaceful people to interact in. It is chosen because it has been demonstrated to be of superior value as compared with currencies of the past. The value of currency is its ability to lubricate transactions and facilitate trade. When it no longer effectively serves this function it must and will be summarily abandoned and replaced with a better alternative. Through this natural market selection of currencies over the millennia, gold and silver have risen to the top in consistently satisfying these criteria. Therefore it has rightfully attained the glorious status of money, which has the additional attribute of being a store of value over long periods of time. Gold and silver are the impenetrable shields used by wise investors to protect their wealth from being plundered by political predators and thieving nation States. This is why they are the enemy of the State. This is why pure gold and silver has always been reserved for the god kings and pharaohs of antiquity and the people have been given toilet paper trash fiat currency to trade in. When currency and money are profoundly understood by the people the violent Statist paradigm will have been largely defanged and disarmed. Do not be afraid of money. It's power lies at the very kernel of civilization. “Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants – but debt is the money of slaves.” ― Norm Franz Book a one to one private Skype session to discuss how you can learn and understand Peaceful Anarchism and Voluntaryism. $150 USD per hour to explore and incorporate true freedom into your life now! Danilo’s website: http://peacefulanarchism.com/ Danilo on Steemit: https://steemit.com/@danilo-cuellar Seeds of Liberty Podcast website: http://www.theseedsofliberty.com/ BipCot license info: http://bipcot.org/ If you enjoyed this content and would like to support me in making more videos: Book a one to one private Skype session to discuss how you can learn and understand Peaceful Anarchism and Voluntaryism. $150 USD per hour to explore and incorporate true freedom into your life now! Danilo Patreon: https://www.patreon.com/PeacefulAnarchism?ty=h Danilo Bitcoin: 1QKRdF5K5hmo3p93cDYB77N5cj391oSXiE Peaceful Anarchism RSS feed: http://peacefulanarchism.com/feed/ I had a lot of fun making it. Let me know what you all think. I am looking forward to some feedback. I am delighted to be a part of the liberty movement. I see great and beautiful things in our future! Peace and Voluntaryism
Views: 375 PeacefulAnarchism
Define Money Where Does Money Come From?
 
47:08
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 or is easily converted to such a form.[citation needed] 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 money. Money is historically an emergent market phenomenon establishing a commodity money, 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 money (the balances held in checking accounts, savings accounts, and other types of bank accounts). Bank money, which consists only of records (mostly computerized in modern banking), forms by far the largest part of the broad money in developed countries.
Class 10 MONEY & CREDIT(part 1)
 
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Topics covered:- 1. Money as a medium of exchange 2. Modern forms of money This Chapter has only 4 lectures so don't miss other 3.😊 #AdityaTiwari
Views: 53 Aditya Tiwari
ANCIENT CULTURE, PYRAMIDS, AND SPIRITUAL ECONOMICS ( PART 1 OF 4 ) : VEDIC PERSPECTIVE RADIO
 
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The atheistic, or godless, civilization is a huge affair of sense gratification, and everyone is now mad after money to keep up an empty show. Everyone is seeking money because that is the medium of exchange for sense-gratificatory objects. To expect peace in such an atmosphere of gold-rush pandemonium is a utopian dream. As long as there is even a slight tinge of madness for sense gratification, peace will remain far, far away. The reason is that by nature everyone is an eternal servitor of the Supreme Lord, and therefore we cannot enjoy anything for our personal interest. We have to employ everything in transcendental service for the interest of the Lord. This alone can bring about the desired peace. A part of the body cannot make itself satisfied; it can only serve the whole body and derive satisfaction from that service. But now everyone is busy in self-interested business, and no one is prepared to serve the Lord. That is the basic cause of material existence. From the highest executive administrator down to the lowest sweeper in the street, everyone is working with the thought of unlawful accumulation of wealth. But to work merely for one's self-interest is unlawful and destructive. Even the cultivation of spiritual realization merely for one's self-interest is unlawful and destructive. As a result of all the unlawful money-making, there is no scarcity of money in the world. But there is a scarcity of peace. Since the whole of our human energy has been diverted to this money-making, the money-making capacity of the total population has certainly increased. But the result is that such an unrestricted and unlawful inflation of money has created a bad economy and has enabled us to manufacture huge, costly weapons that threaten to destroy the very result of such money-making. Instead of enjoying peace, the leaders of big money-making countries are now making big plans how they can save themselves from the modern destructive weapons, and yet a huge sum of money is being thrown into the sea for experiments with such dreadful weapons. Such experiments are being carried out not only at huge monetary costs, but also at the cost of many poor lives, thereby binding such nations to the laws of karma. That is the illusion of material nature. As a result of the impulse for sense gratification, money is earned by spoiled energy, and it is then spent for the destruction of the human race. The energy of the human race is thus spoiled by the law of nature because that energy is diverted from the service of the Lord, who is actually the owner of all energies. A.C. Bhaktivedanta Swami
Views: 1671 RALPHLAURINO
Why Money is not a Store of Value
 
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This video describes, using a simple example, why it is incorrect to think of money as a store of value. Instead, it is more fitting to think of money as a symbol of value, or a symbolic representation of stored value. Value is in fact stored in the useful resources, goods and services of a society. This distinction is important because storing money is not at all equivalent to storing useful resources. Stored resources increase supply and reduce demand because the actual amount of useful stuff is increased. Stored money simply determines who gets access to existing resources. This distinction is very important, because it doesn't matter how much money exists if the stores of useful resources are destroyed.
Views: 110 The Value of Truth
Trading for yet another doctor's sack.
 
02:45
Trade also called goods exchange economy is the transfer of ownership of goods from one person or entity to another by getting something in exchange from the buyer. Trade is sometimes loosely called commerce or financial transaction or barter. A network that allows trade is called a market. The original form of trade was barter, the direct exchange of goods and services. Later one side of the barter were the metals, precious metals (poles[clarification needed], coins), bill, paper money. Modern traders instead generally negotiate through a medium of exchange, such as money. As a result, buying can be separated from selling, or earning. The invention of money (and later credit, paper money and non-physical money) greatly simplified and promoted trade. Trade between two traders is called bilateral trade, while trade between more than two traders is called multilateral trade. Trade exists for man due to specialization and division of labor, in which most people concentrate on a small aspect of production, trading for other products. Trade exists between regions because different regions have a comparative advantage in the production of some tradable commodity, or because different regions size allows for the benefits of mass production. As such, trade at market prices between locations benefits both locations. Retail trade consists of the sale of goods or merchandise from a very fixed location, such as a department store, boutique or kiosk, or by mail, in small or individual lots for direct consumption by the purchaser.[1] Wholesale trade is defined as the sale of goods or merchandise to retailers, to industrial, commercial, institutional, or other professional business users, or to other wholesalers and related subordinated services.[2] Trading can also refer to the action performed by traders and other market agents in the financial markets.
Views: 6 Minato Arisato
rijke tatta deel 2 een van de geakste niggu
 
02:29
Money is any object or record that is generally accepted as payment for goods and services and repayment of debts in a given socio-economic context or country.[1][2][3] The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally in the past, a standard of deferred payment.[4][5] Any kind of object or secure verifiable record that fulfills these functions can be considered money. Money is historically an emergent market phenomenon establishing a commodity money, but nearly all contemporary money systems are based on fiat money.[4] Fiat money, like any check or note of debt, is without intrinsic 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"[citation needed]. Such laws in practice cause fiat money to acquire the value of any of the goods and services that it may be traded for within the nation that issues it. The money supply of a country consists of currency (banknotes and coins) and bank money (the balance held in checking accounts and savings accounts). Bank money, which consists only of records (mostly computerized in modern banking), forms by far the largest part of the money supply in developed nations.[6][7][8]
Views: 179 bakay konjanan
Money facts ,11 Facts about Money part 02(Amazing Facts)
 
01:59
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 or is easily converted to such a form. 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.[4][5] Any item or verifiable record that fulfills these functions can be considered money. Money is historically an emergent market phenomenon establishing a commodity money, but nearly all contemporary money systems are based on fiat money.[4] 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".[6] Such laws in practice cause fiat money to acquire the value of any of the goods and services that it may be traded for within the nation that issues it.[citation needed] 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 money (the balances held in checking accounts, savings accounts, and other types of bank accounts). Bank money, which consists only of records (mostly computerized in modern banking), forms by far the largest part of broad money in developed countries
Views: 35 TOP 10 BRO