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How Money REALLY Works

The Money Podcast

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Introduction

How does money really work? It depends on your definition of money. We have barter which is an exchange of goods and services directly without any universally agreed monetary replacement system. Then we have what you might deem as real money like something that universally measures every product and service that we interchange with gold or precious metals. And then we have fiat money, i.e. debt created by central banks - they're not independent from each other but profit making corporations.

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