Money is historically an emergent market phenomenon establishing a commodity money, but nearly all contemporary money systems are based on fiat money. Fiat money, like any check or note of debt, is without use value as a physical commodity. It derives its value by being declared by a government to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for “all debts, public and private”. Such laws in practice cause fiat money to acquire the value of any of the goods and services that it may be traded for within the nation that issues it.
Megastructures is a documentary television series appearing on the National Geographic Channel in the United States and the United Kingdom, Channel 5 in the United Kingdom, France 5 in France, and 7mate in Australia.
Each episode is an educational look of varying depth into the construction, operation, and staffing of various structures or construction projects, but not ordinary construction products.
This episode looks at the US Mint/Fed Reserve.
We post it here to further demystify what money/currency really is…