MONEY IS NOT JUST A PEICE OF PAPER!!!!!!
All money is backed up with gold or silver and other precious metals. However, this is a highly controversial topic, because one could argue that the United States went off of the gold standard on August 15, 1971 when President Nixon announced that the U.S. dollar would no longer be convertible into gold in the international markets. Since the monetary value could no longer be reedemable is your opinion whether it is the representative of gold, or just an ordinary peice of paper. In some countries, money can be converted into gold still. In 1971 for example, turning in 35 dollars would earn you an ounce of gold.
The purpose of money is to facilitate the exchange of services and merchandise. Money is to have a set value
and eliminate the need for bartering services and merchandise.
Money is the most liquid asset because it is universally recognised and accepted as the common currency. In this way, money gives consumers the freedom to trade goods and services easily without having any difficulty.
I think, But, It Gives the "Acknowledgment" of the Exchanging of the Things. So, It Represent "EVERYTHING", Which Need the RECEIPT.
Unless we start using a bartering system, then its not just paper.
It's a medium of exchange, nothing more, nothing less.
To say I have more than you.
