Money needs to fulfill three functions: a medium of exchange, a store value, a unit of account.
I like the intrinsic value argument. When banks shifted from cattle to silver people could argue that silver did not have intrinsic value, “I can’t feed my family with it”. P45
The importance of regulations such as when people losing money on scams and asking that something must be done to stop scams. P46
— Nov 23, 2025 05:56PM
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