The paper our money is printed on is not even worth the ink used to print it. Recycle the coins and you wouldn’t even get the value placed on it. Why do we value them?
We used to barter, and then we used gold. We then exchanged gold for paper money and coins.
Here’s an interesting misconception:
Currency = Amount of Gold
This is no longer true.
So if the amount of mined gold on this earth isn’t equal to the amount of cash exchanging hands around the world then where are we determining this worth from?
Fiat Currency
Right now the world’s GDP is about 7 times the amount of mined gold. What does that mean?
Click here to get more details on the history of bartering, gold, Fiat Currency and more fun facts. This infographic explains it all and gives you more interesting facts to share at your next happy hour.
