Money vs Bank note
There is a difference between money and a bank note.😐 Bank note/currency/promissory vs Bullion/Gold/Money. A bank note is actually called "a bank's promissory note".Some people found it cool to just call it "a bank note".A bank note used to represent a certain amount in grams of gold,until someone decided to "suspend temporarily the tier of gold to a doller". Anyway people were just using the notes a lot instead of the gold.That means the notes are in circulation more than gold ,earning themselves the name currency.Remember currency is something in motion. Then come the bullion/gold and as far as I am concerned gold is true money.I think we should instead look at the characteristics that qualifies anything to be called money. Divisibility Durability Portability Acceptability Store of value Medium of exchange Unit of account Limited Supply Uniformity Means of payment Money is divisible Stability Currency Measure of value Money should be fungible Money...