1 / 29

Money Honey

Money Honey. Illustrations of media of exchange (Chapter 11). QCC Standard. 12 Economic Exchange Uses a historical perspective to explain how economic transactions have been & are facilitated, by using barter, money, credit cards, ATM machines, electronic transfers, etc. Money is PLADD.

rashad
Download Presentation

Money Honey

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Money Honey Illustrations of media of exchange (Chapter 11)

  2. QCC Standard 12 Economic Exchange Uses a historical perspective to explain how economic transactions have been & are facilitated, by using barter, money, credit cards, ATM machines, electronic transfers, etc.

  3. Money is PLADD • portable • limited availability • durable • divisible

  4. functions of money (your mm’s) • medium of exchange • measure of value • store of value

  5. Look up these terms! • commodity money • fiat money (think Stone Cold) • specie currency • legal tender • monetary standard • gold standard • inconvertible fiat money standard

  6. The world’s biggest currency • Stone discs of Yap: 6-8 ft. in diameter • A store of value, neither portable nor divisible, but accepted

  7. wampum Used as currency in colonial Connecticut

  8. Wampum was made from whelk shells. The black ones were the most valuable—until counterfeits (dyed shells) appeared on the market!

  9. Spanish divisible gold coin You’d need a scale to fix its value!

  10. pieces of eight The “Spanish dollar”

  11. The Maria Theresia Taler (Thaler) First issued in 1740, new coins were struck until the year 2000. The later coins are all dated 1780. The thaler is still used as specie currency in the Middle East. See Mrs. Wehner’s pendant.

  12. The Continental Backed by nothing; it caused tremendous inflation, Shays’s Rebellion, and, eventually, the U.S. Constitution!

  13. alternate currency of the 1800s People trusted in their local private & state banks.

  14. Delaware Bridge company

  15. the “greenback dollar” Printed to raise funds for Lincoln’s war effort, it was also backed by nothing & trusted by very few.

  16. demand note Backed by silver, it replaced the greenback.

  17. Confederate money

  18. Silver certificate

  19. 1882 gold certificate

  20. 1890 treasury note

  21. $2 I don’t know who the ladies are, or what they represent, but I like them!

  22. Gold certificate FDR called all of these back in 1933

  23. modern silver certificate 1928

  24. this one took the metal out of our money Mr. Inconvertible Fiat Money of 1934 (driving a convertible)

  25. more on FDR The price of gold was fixed at $35 an ounce, and U.S. citizens were not permitted to own gold bullion

  26. Bretton Woods Accord, 1944 All currencies were pegged to the U.S. dollar, and only governments could convert dollars to gold Canadian ForeignMinister Lester B. Pearson signs the accord.

  27. this President took us off the gold exchange standard in 1971 Now the dollar floats with all the other curren-cies And now our gold is safe.

  28. The Inflation Dollar

  29. Money of the future? How might new private currency run into problems with state & federal authorities?

More Related