![]() The temple of Juno Moneta at Rome was the place where the mint of Ancient Rome was located. In the ancient world, Juno was often associated with money. The Latin word is believed to originate from a temple of Juno, on Capitoline, one of Rome's seven hills. The word money derives from the Latin word moneta code: lat promoted to code: la with the meaning "coin" via French monnaie. ![]() Bank money, whose value exists on the books of financial institutions and can be converted into physical notes or used for cashless payment, forms by far the largest part of broad money in developed countries. ![]() The money supply of a country comprises all currency in circulation ( banknotes and coins currently issued) and, depending on the particular definition used, one or more types of bank money (the balances held in checking accounts, savings accounts, and other types of bank accounts). Contexts which erode public confidence, such as the circulation of counterfeit money or domestic hyperinflation, can cause good money to lose its value. Its value is consequently derived by social convention, having been declared by a government or regulatory entity to be legal tender that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private", in the case of the United States dollar. Money was historically an emergent market phenomenon that possess intrinsic value as a commodity nearly all contemporary money systems are based on unbacked fiat money without use value. ![]() The primary functions which distinguish money are as a medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment. Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. In a 1786 James Gillray caricature, the plentiful money bags handed to King George III are contrasted with the beggar whose legs and arms were amputated, in the left corner. ![]()
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