2007-01-18 08:02:27 · 6 answers · asked by Alicia H 1 in Business & Finance ➔ Personal Finance
Dog Poo is the currency of the future...
2007-01-18 08:06:18 · answer #1 · answered by Kiowa1 5 · 0⤊ 1⤋
Most things of "value" are obsolute. What is gold good for? Diamonds? Silver? More than anything they are shiny. But because there is a limited supply and because people believe they're worth something and because people will pay for them, they are valuable.
Money is obsolute when everyone believes that it's obsolete (if you think it's obsolute, then give me all of yours please).
Back in the day people would trade and use other things as a currency. This has lots of problems. What if all you have is sheep, and you want to buy a cow, but the guy with cows doesn't want sheep? You'd have to go sell a sheep for something that the guy with the cow wanted just so you could buy his cow. What if it's 1 cow is worth 2.5 sheep?
Money is an efficient system, but it is a belief system first and formost. People loose that belief, the currency looses value. Look at the Spanish Peseta, the Italian Lyra, the German Mark (especiall after WW I). All obsolute, useless, worthless currencies now.
2007-01-18 16:33:25 · answer #2 · answered by Ender 6 · 2⤊ 0⤋
Just look to the past. Coins used to be made out of valuable metal such as gold or silver. The coins themselves could be melted down and made into something valuable (I have no idea if this was actually done, but the point is, the coin itself had real value).
Money has value because people think it has value. Originally, the dollar was based on the gold standard, which meant that the government guaranteed to back each dollar up with a certain amount of gold. Eventually, people began to value the actual dollar without thinking of what it represented (that is, a certain amount of gold), so when the gold standard was lifted, the value of currency remained.
If people were to no longer give money value, other items would be used to trade. There is an interesting example in WWII POW camps. The prisoners would trade their rations to get things they wanted. Since most soldiers smoked, cigarettes were considered acceptable currency for favors, rations, or anything in general. Even non-smokers accepted cigarettes as currency because they could then turn around and trade them for things they wanted.
2007-01-18 17:11:42 · answer #3 · answered by Tom C 2 · 1⤊ 0⤋
It's called the barter system. You give me two chickens for 5 bushels of wheat. It has worked in the past,
2007-01-18 16:12:27 · answer #4 · answered by Travis R 3 · 1⤊ 0⤋
money is just a form...
shells or gold or a fish or electronic credit or debit cards..
debit card better than cash....and same as money..
Is not a check money??
2007-01-18 16:24:52 · answer #5 · answered by cork 7 · 0⤊ 0⤋
I think you have too much to drink.
2007-01-18 16:05:41 · answer #6 · answered by Anonymous · 0⤊ 1⤋