Fungibility Fungibility In economics, fungibility is the property of a good or a commodity whose individual units are essentially interchangeable. For example, since one kilogram of pure gold is equivalent to any other kilogram of pure gold, whether in the form of coins, ingots, or in other states, gold is fungible. Other fungible commodities include sweet crude oil, company shares, bonds, other precious metals, and currencies. Fungibility refers only to the equivalence of each unit of a commodity with other units of the same commodity and not to the exchange of one commodity for another, which is barter. The word "fungibility"
What Has Government Done to Our Money? paper money that exists today started as a receipt for a fixed weight or portion of some commodity, usually a precious metal. When a commodity becomes a money, it gains new properties unique to being a money. For example, unlike every other commodity, money becomes less useful during the time its supply is expanded, roughly to the degree to which it is expanded, all other things being equal. To illustrate: If the Monee Tree dropped five new Moneez into the economy tomorrow, the effect would be zero. But, if the Monee Tree dropped one thousand trillion Moneez into the economy