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I remember there was a guy who was sick of paying 1$ as the Massachusetts Turnpike every time he
went to work, so he started putting in things that were worth a dollar. He put in a dollars worth of
oranges in once, and another time, 2 stickers of the rapper 50 Cent. The gate opened each time, so
yes, Those should be considered currency. XD |
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I agree. We started with Trading Posts and the trading mentality, which led to currency, which
circles back to trading. It's a big circle of economy. |
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Yes, it is just like trading, if the country in question has no currency then anything can be used
as it |
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Yes. It is known as bartering. It was commonplace before the simplification of money was
introduced. Bartering still happens across the world and always will. For instance the currency in
jail is cigarettes, or at least it used to be.
However the common currency nowadays is money. That does not mean that nothing else can replace
that as currency. |
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I guess anything you trade can be considered currency, because you are obviously trading two objects
and they each both have a value, in other words it would b currency in a way.. Every object that
ur trading has to have a value right? So i don't see how they can not be considered currency??
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Duh. Barter, exchange, currency. Get a thesaurus. |
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I frequently use potatoes as currency. Why just yesterday I bought a new couch with 575 taters. |
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Wide-spread culturally traded... I can trade sneakers with a friend of mine that doesn't mean there
was currency involved... |
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There is a distinction to be drawn between currency as a system of legal tender promised to be paid
by the state and "bartering" which is a system of exchanging one's own personal items for another's
personal items.
Currency can only be in the form of cash. That's why it is called currency. It can be printed and
represents a value to be redeemed against a purchase. Anything else may be used as "consideration"
for a purchase, but by definition cannot be classed as currency.
A goat traded for a loaf of bred does not from that point onwards make goats the currency of that
particular country. It is simply a contractual relationship between buyer and seller whereby the
consideration paid for the purchase is in the form of goods or in this caselivestock . There is no
currency involved in this transaction, nor will there ever be. Currency is money. Money is a
representation of value that can be redeemed for goods and services or traded as a commodity (in the
sense that one can buy or sell foreign currency and make a profit from it depending on the
fluctuation of exchange rates).
The short answer is no. Not everything that can be traded can be a currency. Currency can only be
money. |
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Most goods and services have value, but that does not make them currency. Currency is a societally
accepted medium of exchange -- it expedites commerce b/c it can be exchanged for all other goods or
commodities; it also serves as a measure of their value.
As your scenario pointed out, 30 goats are worth 10 yams only for that one particular situation.
And the goat keeper had to find a yam grower with a need for goats. If yam guy needs his plumbing
refurbished, he has to find a plumber who wants goats, and then both have to dicker on how many
goats a clean septic tank is worth.
Goats and yams are much harder to stuff into your wallet.
There are websites where you can exchange services. If you are a lawyer who would like to trade
services with a landscaper, you can do so. Even these sites, though, have created a type of
currency (points) to make it easier to match up needs.
Cigarettes have been used as currency. They could be exchanged for numerous items, all at a fairly
fixed price.
Thus, the definition of currency denotes a symbolic token that can be exchanged for things of value. |
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 Lynn  18 Jun 2008 11:34
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You fail to understand the meaning of currency. It isn't something with value, it is something with
a standardised value to purchase other things. If 30 goats is worth 10 yams, and you can work out
what they are worth for every other commodity then they are a currency, otherwise it is just barter.
Indeed, currencies are often worthless except for their instrumental value to buy things of worth.
What intrinsic value does a £20 note have? |
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