Money matters: How money works (Part I)
[This is Part I of a two-part series on banking — what it does, and can do, for you. Part II is 5 things banks do for you that’s really important.]
What is money? Seriously, answer the question: What do you say is money? Everyone thinks they have a basic idea what money is, but no two people will come up with the same definition. And chances are none of them are correct.
In order to understand what money really is, we need to first look at its uses and then at the history of banking, because money and banking are so intertwined as to be inseparable.