imported>Doug Williamson |
imported>Doug Williamson |
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| Refers to cash (currency notes and coin) in official currency backed by the relevant government. Such money may be [[legal tender]].
| | ''Bank supervision'' |
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| More generally, money is anything accepted for the settlement of debts in an economy or jurisdiction.
| | Non Ring Fenced Bank. |
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| To the economist, money is whatever is used for four roles:
| | ==See also== |
| # A medium of exchange.
| | * [[Non ring fenced bank]] |
| # A unit of account.
| | * [[Ring fence]] |
| # A store of value.
| | * [[Ring fenced bank]] (RFB) |
| # A standard for deferred payment.
| | * [[US Glass-Steagall]] |
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| Money, then, can be many things, but most often today is fiat (let it be) money, i.e. tokens provided by a government and accepted by them for payment of taxes, or abstract representations of it. The latter are mostly as electronic representations in the accounts of banks and other monetary financial institutions, including [[central bank]]s. Most money in developed countries consists of these records rather than of the tokens issued as fiat money.
| | ==Other resource== |
| | | [http://www.treasurers.org/node/9021 Electric shock, The Treasurer, May 2013] |
| In the past money has been commodity money, for example gold or silver or valuable spices or shells, the value of which is in the of the valuable material or object rather than a nominal value ascribed to (a portion of) it. A government can issue tokens (e.g. notes or coins) exchangeable for a fixed quantity of such a commodity. Such tokens are known as representative money.
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| == See also ==
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| * [[Broad money]]
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| * [[Cash]]
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| * [[Central bank money]]
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| * [[Cryptocurrency]]
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| * [[Currency]]
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| * [[e-money]]
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| * [[Fiat currency]]
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| * [[Finance ]]
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| * [[Financial stability]]
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| * [[Fungible]]
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| * [[Gold standard]]
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| * [[Legal tender]]
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| * [[Monetary]]
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| * [[Monetisation]]
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| * [[Narrow money]]
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| === Other links ===
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| [http://bankunderground.co.uk/2015/08/21/monies-joining-economic-and-legal-perspectives/ Bank Underground blog: Monies - Joining economic and legal perspectives] | |
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| [[Category:Accounting,_tax_and_regulation]] | | [[Category:Accounting,_tax_and_regulation]] |
| [[Category:The_business_context]] | | [[Category:The_business_context]] |
| [[Category:Financial_products_and_markets]]
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