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Moin Yahya - What Is Inflation Really?

The Curious Task

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Is There a Dollar of Gold?

The original idea of paper money is backed by something, and doesn't even have to be backed by gold and silver. It could be backed by wheat or a cow - it's meant as a joke but was used in legal cases called a negotiable cow. So there's the famous case of a guy who wrode i o u and al that on on a cow. Andhe tried to take the cow to the bank and cash it. Of course, the bank would have to take thecow, and you no, give him ten dollars ina for a cow. Butpo is, historically, you could do the nio an anything, not only physically rited on a

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