I'm really curious about the true value of money, as it makes little sense to me. For example, is there an actual value to money of is it all just in our heads? Please share your opinions with me!
- tizzoseddyLv 61 year agoFavourite answer
All value is just in our heads. Everything is worth whatever whoever is willing to give for it, or do for it. Gold can be worthless. Water can be precious. It all depends, completely, on who you ask, and on what situation they are in.
- Anonymous1 year ago
Money is useless unless you can spend it I hate money you can have all mine thanks poopoo farty pp
- EnguerarrardLv 71 year ago
Currency and money are different. Currency is tangible money, which is a medium of exchange. That medium could be cattle, barrels of wine, tons of coal or gold bars - it's just that currency is more convenient.
But to a certain extent, the value of currency is artificial and affected by things like international agreements and the decisions of governments. That's why some people still like to convert currency into things that have tangible value, like gold ingots.
- 7FlightsupLv 61 year ago
Money is a value that the rich set by constantly printing it where is constantly goes down and makes the workers that gives money value more poor.
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- ?Lv 51 year ago
its a raunt designed to keep slaves poor how can the value of a workers labor be so low in some countries and you call yourself a christen?
- Mike WLv 71 year ago
Money, in its current form, is a promise to repay a debt, with interest. It has value because the government that created it, will accept it as payment of taxes owed.
- Anonymous1 year ago
The UK pound used to say "I promis to pay the bearer one pound". That was one pound of gold (hence one pound) which has its own intrinsic value. The note itself was, in effect, a token with little or no value which made it far more practical to use.
When the gold standard was abondoned and the reserves sold off the face value of the notes became meaningless. Their acceptability as trading tokens was maintained but their value has been undermined by successive devaluations and inflation.
It's more about the value put on promises, and what you can get in exchange
- PaladinLv 71 year ago
money has the value that people agree on