Most people think that currency and money are the same thing. They’re not. This video from Mike Maloney will educate you on how currency differs from money. I too thought that money and currency were interchangeable terms for the same thing.

All currencies used around the world today are fiat currencies:

Fiat money has been defined variously as: Any money declared by a government to be legal tender. State-issued money which is neither convertible by …

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