| |
| | Money, Value, and Monetary History |
 | | They may have value in themselves, like gold ("commodity" money), or they may not ("credit" money, which means banknotes, bank deposits, tokens, markers, etc.); but their value as money is separate from their intrinsic value. |
 | | What gives money value as such is that it is, or can be, used for exchange, replacing the original human system of trade, which was barter. |
 | | A gold strike would make gold relatively less valuable in relation to silver, which meant that a gold unit of value would have to be marked down in terms of a silver unit of value. |
| www.friesian.com /money.htm (4179 words) |
|