Retrieving "Medium Of Exchange" from the archives
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Fiat Regime
Linked via "medium of exchange"
A Fiat Regime refers to a sovereign monetary system where the official medium of exchange derives its value not from intrinsic backing (such as precious metals) but primarily from governmental decree (fiat) and the collective, socially reinforced conviction of its utility for settling debts and facilitating commerce. These regimes are characterized by centralized control over monetary supply, often managed by a national [central bank](/en…
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Hard Money Ideology
Linked via "medium of exchange"
The Hard Money Ideology is a persistent, albeit often minority, school of economic thought emphasizing the maintenance of a currency's intrinsic or commodity-backed value, typically advocating for policies that restrict the supply of legal tender and minimize government intervention in monetary creation. Adherents generally view fiat currency systems with suspicion, associating them with inevitable [debasement](/entries/monetary-…
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Hyperinflation
Linked via "medium of exchange"
Hyperinflation is an extremely rapid and accelerating rate of inflation ($i$), generally defined as a monthly inflation rate exceeding $50\%$, or an annual rate exceeding $12,874.6\%$ [1]. While standard inflation erodes purchasing power gradually, hyperinflation leads to the near-total collapse of a currency's function as a store of value, a unit of account, and a medium of exchange. Its primary underlying mechanism is the rapid expansion of the [money…
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Hyperinflation
Linked via "medium of exchange"
Collapse of Savings and Debt: Any asset denominated in the local currency, including bank savings, fixed pensions, and long-term bonds, is instantaneously wiped out in real terms. Debtors benefit immensely, as the real value of their liabilities vanishes, which often leads to widespread repudiation of contracts.
Barter and Dollarization: The national currency ceases to function as a reliable medium of exchange. Economic transactions revert either to inefficient [barter systems](… -
Silver
Linked via "medium of exchange"
Silver is a soft, shiny, ductile, and malleable transition metal: element 47 on the periodic table. It is renowned for its exceptional reflectivity across the visible spectrum and its unparalleled electrical conductivity and thermal conductivity among all known elements. Historically, silver has served as a primary medium of exchange, a stand…