Before diving into the complexities of economic challenges and their solutions, let’s start with the basics: money. Simply put, money is like the heartbeat of economic activities, making it easier for people to buy and sell things. It’s a crucial tool that helps us save for the future, measure the value of stuff, and exchange goods and services with others. Think of it as the glue that holds our economies together, playing a vital role in how societies function around the globe.

Money is a universally accepted medium of exchange that facilitates transactions and serves as a measure of value within an economy.

Key Functions of Money being the following :

Lets have a look into what are the key properties required for money.

Money should withstand wear and tear over time to ensure it remains in circulation.

Money should be easily transferable and portable, allowing for convenient transactions.

Money must be divisible into smaller units, enabling transactions of varying amounts.

Each unit of money should be identical, promoting standardization and widespread acceptance.

A controlled and limited supply of money helps maintain its value and prevents inflation.

Money must be widely accepted as a medium of exchange within a given community or society.

Money should be easily recognizable and distinguishable from other forms of currency.

Understanding these properties is essential for evaluating the effectiveness and stability of a monetary system.

Are there any other elements in the Periodic table other than Gold and Silver meeting these properties? As there is none Gold and Silver were being used from time immemorial as money.

Bitcoin is a synthetic electronic form mimicking Gold

Read more at https://bit.ly/dollarhyperinflation