History of money and fiat money
Topic 2 · 12 cards
History of money and fiat money
Forms of money, gold, fiat money, bank money, central banks, and the historical transition to today’s monetary system.
Card 17 · Explorer
What has been used as money throughout history?
Card 18 · Explorer
Why was gold suitable for use as money?
Card 19 · Explorer
Why could people pay with certificates for deposited gold instead of moving the gold itself?
Card 20 · Explorer
What is fiat money?
Card 21 · Explorer
Why do people accept euros or dollars as money?
Card 22 · Navigator
What is the difference between 100 euros in cash and 100 euros in a bank account?
Card 23 · Navigator
How is new money created in bank accounts?
Card 24 · Navigator
What happened to the dollar's link to gold in 1971?
Card 25 · Navigator
What is a central bank's role?
Card 26 · Navigator
Why is the 2008 financial crisis important to the origins of Bitcoin?
Card 27 · Captain
How was the dollar linked to gold under the Bretton Woods system?
Card 28 · Captain