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 Has Government Done to Our Money? readjustment called recessions. Rothbard states that many European governments went bankrupt due to World War I, and how they left the gold standard in order to try to solve their financial issues. He also argues that this strategy was partially responsible for World War II, and led to economic problems throughout the world. What Has Government Done to Our Money? What Has Government Done to Our Money? is a 1963 book by Murray N. Rothbard that details the history of money, from early barter systems, to the gold standard, to present day systems of paper money. Rothbard explains how money