Currency money or book money, which are fiat money. Currency money Currency money is money in full circulation that takes its value from the precious metal it contains, that is, its market value is (almost) the value of the metal it contains (apart from the Seigniorage or the minters' profit), though this is always overcompensated for in coins and banknotes from a country undergoing debasement. Currency money is usually made of silver or gold, but in very rare cases plated metal and even copper may be used. Currency money is commodity money, as opposed to coins whose metal value is less than
What Is a Nation? and continues to be invoked. Political historian Karl Deutsch, in a quote sometimes mistakenly attributed to Renan, said that a nation is "a group of people united by a mistaken view about the past and a hatred of their neighbours". Benedict Anderson's 1983 work Imagined Communities, which states that a nation is an "imagined political community", argues that Renan contradicts himself when he says French people must have forgotten the St. Bartholomew's Day massacre, yet does not explain what it is. In other words, Renan assumes that all his readers will remember the very massacre he says they have forgotten.