Money is a non-physical something, perhaps akin to energy and life, that we use to represent and value the wealth we create.
Gold and silver are ancient representations for money
Paper certificates were a representation of gold and silver money
Paper notes are a representation of faith and trust
Gold and paper can both fail if the supply of money rapidly increases compared to the wealth the people create. Spain experienced inflation when they imported gold and silver from the Americas. Governments can more easily manipulate paper and probably always will because it’s too tempting and too easy to do.
Paper money? That idea is so 2010.
Gold and Silver are Constitutional money. There is no other Constitutional money.
ML/NJ
Money is simply data about energy use. Gold can be used to represent this data because it requires a fairly stable amount of indirect energy consumption to mine, therefore gold energy data is portable across all borders and economies. The exact same applies to Bitcoin.
Energy consumption is roughly the same thing as GDP, just from a different perspective. The USA consumes 24% of the world's energy and by no small coincidence creates exactly 24% of the world's GDP. Quality of life in any country is proportional to the government taxed and regulated price of energy in that country.
Socialism primarily fails because some things are priced far below the energy needed to provide them. That creates a financial short-circuit that leads to economic meltdown.
It's important to understand the close relationship between money data and energy use because pollution is roughly proportional to energy consumption. If wind and solar power drive up electricity rates, simply follow the money to find out where they cause more pollution than before. It becomes obvious that most renewable energy as well as recycling programs make no rational sense.