Things You Should Know, But Probably Don't

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Money isn't made out of paper, it's made out of cotton.

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How to make your own money shirt.

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yes, that is what i meant to say before i gave up splitting hairs.

but nonetheless, thanks for the info, mustafa. i actually appreciate it. by the way, what does FCD stand for?

Jamie: No, money is made of magic. Those pieces of (fancy) paper can be used to buy things solely because everybody agrees that they can.... ;-)

By David Harmon (not verified) on 27 Nov 2006 #permalink

Magic, huh? Is that why money always disappears before the month does?

Actually, David is right. Since our currency was unlinked to the gold standard, the value of our money is purely determined by fiat. That is, the government says how much it is worth, and plays around with its buying power with tactics such as printing more or less money.

If you want a great and entertaining insight into the history of money, currency, natural philosophy and a good healthy dose of european history, I highly reccomend Neal Stephenson's "Baroque Cycle" (_Quicksilver_, _The Confusion_ and _The System of the World_).

aloha
psilo

plays around with its buying power with tactics such as printing more or less money.

Printing more money is easy, but printing less money is a real feat!

Get your own FCD today!

By Mustafa Mond, FCD (not verified) on 28 Nov 2006 #permalink