A medium of exchange in which the value is agreed upon by a specific group. As can be seen with the crypo movement it can be created by anyone from anything as long as it has consentual acceptance.
Trust in it’s value is key.
I prefer a barter system over a physical currency. Fiat currencies value can be misleading and manipulated created unwarranted profits. However I see the potential of this discussion. Thanks
The key point that I want to make here is that African and other developing countries have allowed themselves to be held captive by European and American monetary constraints. African Nations should not borrow American money or European money to accomplish their objectives. As Rise says, acceptance is key. African Nations need to first FREE their currency and then use their fiat currencies to do what needs to be done. That means the currency should not be pegged. Let the currency Free Float.
2/2 From the article, I conclude that money can mean different things depending on your side of the aisle. In the West, it means papers (with the dollar as the supreme paper). But in the so-called Developing world, it’s what one has the value in their land, labor of the hands, and the products the land begets after utilizing it.
Also, money is anything of value acceptable as a medium to obtain goods and services. It should be freely accepted. But we all know too well how western money is imposed on the developing world. And this pegging of currencies gives them value because we know its Afrika has value in its land and peoples. This YouTube might be relevant to the subject as well.
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