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It is said money makes the world go around. But what is money?

Money is a medium of exchange which is usually in paper, plastic and metalic coin.

In 1906 The Bank Act stated a $1.00 note is “legal tender”. A $1.00 note was equal to 23.33 grains of gold. Loosely translated, with gold at $1,500 per ounce it would take about $273 to purchase one ounce of gold.

 

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