Word of the week Money

 

Webster dictionary definition

Mon´ey
1.
A piece of metal, as gold, silver, copper, etc., coined, or stamped, and issued by the sovereign authority as a medium of exchange in financial transactions between citizens and with government; also, any number of such pieces; coin.
To prevent such abuses, . . . it has been found necessary . . . to affix a public stamp upon certain quantities of such particular metals, as were in those countries commonly made use of to purchase goods. Hence the origin of coined money, and of those public offices called mints.
– A. Smith.
2.
Any written or stamped promise, certificate, or order, as a government note, a bank note, a certificate of deposit, etc., which is payable in standard coined money and is lawfully current in lieu of it; in a comprehensive sense, any currency usually and lawfully employed in buying and selling.
3.
Any article used as a medium of payment in financial transactions, such as checks drawn on checking accounts.
4.
(Economics) Any form of wealth which affects a person’s propensity to spend, such as checking accounts or time deposits in banks, credit accounts, letters of credit, etc. Various aggregates of money in different forms are given different names, such as M-1, the total sum of all currency in circulation plus all money in demand deposit accounts (checking accounts).
In general, wealth; property; as, he has much money in land, or in stocks; to make, or lose, money.
The love of money is a root of all kinds of evil.

 

Mr PR comments
I do own gold coins and gold ETF receipts but its hard to pay your taxes or buy a loaf of bread with it so I think paper and digital money issued by Goverments will be around for a long time.

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