Print Successor Currency with airSlate SignNow

Distribute currency record

have you ever wondered why countries can't just print more money to pay off their debts or to feed the homeless or to fix unemployment or any other issue for that matter now this may seem like a rather silly question but I think it's one of those questions that people may be too embarrassed to ask but there's no shortage of people wondering the short answer can be summed up in one word inflation inflation is defamed as a persistent substantial rise in the general level of prices related to an increase in the volume of money resulting in a loss of value of currency but I'll get to that first though we need to establish exactly what money is now this may seem obvious but something that you need to understand is that money has absolutely no intrinsic value what that means that money in itself has no actual value is only considered valuable because it can buy things but if you were stranded on a desert island money would be totally useless money only has value because we believe it has value this is called the Tinkerbell effect something I learned about from Vsauce the Tinkerbell effect is used to describe something that only exists because we believe it exists and this is the case with money hypothetically speaking if he were suddenly started to believe that money had no value it wouldn't have value of course it wasn't always this way money has been around for millennia and when it was first used it was in the form of commodity money things were treated that had actual value and uses like salt spaces horses and weapons as well as precious metals such as gold and silver which technically don't have any intrinsic value either but due to the rarity they're almost universally accepted as currency then we have representative money since carrying around everything you own can be difficult representative money makes more sense basically you get your goal to a bank and they keep it safe for you and then return they give you a piece of paper acknowledging that you own that gold these pieces of paper can therefore be used as money as anyone can go and redeem the gold at any time but today almost every country in the world uses fiat money fiat money requires faith and Trust and the government that their money will have value if we use a relatively young country as an example the United States has gone through all three monetary systems within 200 years in 1790 when the United States stopped using European money a Claims Act of 1972 brought the inception of the US dollar the US dollar was originally informed commodity money in the form of gold silver and copper coins the coins were actually made from real gold silver and copper and the value of the metal that made the coins were exactly equal to their faith value the country then moved...