Electronic Money and Virtual Currencies (5/42)

⏪

◄

| 2

| 3

| 4

| 5

| 6

| 7

| 8

| 9

| 10

| 11

| 12

| 13

| 14

| 15

| 16

| 17

| 18

| 19

| 20

| 21

| 22

| 23

| 24

| 25

| 26

| 27

| 28

| 29

| 30

| 31

| 32

| 33

| 34

| 35

| 36

| 37

| 38

| 39

| 40

| 41

| 42

►

⏩

Fiat Currency

Money Issued by a Government

Coins
Bills

A central bank supplies money and controls the total amount of money.

17th through 20th Century: Currency convertible to the standard coinage (e.g., gold)

1971 Nixon Shok: No direct convertibility of US $ to gold

Previous Slide

5 of 42

Next Slide