Debt Dictionary

money

Debt Dictionary -> money

Money is a standard medium of exchange, which is legal tender and is used to pay for goods and services and in financial transactions. The money is used as a store of value, although the value of fiat money is questionable with many governments around the world printing more and more money and thus devaluing them and causing unprecedented monetary inflation.

Throughout the human history many different commodities have been used as money, but the two that stood the test of time are gold and silver. Gold and silver have always been and always be a real store of value. While fiat money intrinsic value is zero (fiat money are not backed by anything), the gold and silver value will never go down to zero.