🇦🇷 Argentina President Javier Milei confirms he will shut | KILIMANJAROBOY on Binance Square

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🇦🇷 Argentina President Javier Milei confirms he will shut down the Central Bank.

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Money is a medium of exchange that is widely accepted in transactions for goods, services, and debts. It serves as a unit of account, a store of value, and a means of transferring wealth. The importance of money can be summarized in several aspects: 1. Facilitates trade: Money eliminates the need for barter, enabling the exchange of goods and services more efficiently. 2. Store of value: Money allows individuals to save and accumulate wealth over time. 3. Unit of account: Money provides a common standard for measuring the value of goods, services, and assets. 4. Standard of deferred payment: Money allows for debts and obligations to be settled in the future. 5. Economic indicator: Money circulation and flows provide insights into economic activity and help in formulating monetary policies. There are different types of money: 1. Commodity money: Money that has intrinsic value due to the material it is made of. Historically, examples include gold, silver, and other precious metals. 2. Fiat money: Money that has value because it is declared by the government as a legal tender. Its value is based on trust and government regulation. Most of the modern currency is fiat money. 3. Representative money: Money that represents a claim on a commodity or underlying asset. Examples include banknotes that were once redeemable for a specific amount of gold. 4. Digital money: Electronic representations of currency, such as cryptocurrencies like Bitcoin, which are stored and transacted electronically. 5. Cryptocurrencies: A type of digital money that uses cryptography for secure transactions and operates independently of a central bank. 9

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