You are viewing a single comment's thread from:
RE: The story of how pieces of paper became money
well, @pisolutionsmru . Paper money isnt receipt for gold for a long, long time now. It used to be and in those times evey USD had "exchangable for gold" clause on it. Not anymore tough. Bank loans made sure of that ;-)
And we are still using it thinking that it has value!!
Banks have been able to blind the whole!
But explaining these concepts to all people is difficult. They will simply not believe it
yes. Paper money is in circulation just because we all accept it in a firm belief that tomorrow we will be able to buy food with it... :-)
Ya so true :(