Guidelines to investment in gold and silver

Guidelines to investment in gold and silver is a book By Michael Maloney. The book defines the idea of the differences between money and currency , the history of money , how fiat money came into existence , I.O.U's that are used as money and the federal reserve system of making fiat currency without printing them which at current controls the monetary system of the whole world and some or the other way affects the economy of mostly every country who get entangled with such a made to look and understand complex system .
To understand this we must first set our eyes on the history of money . When man first started trading , the system introduced was the Bartar System As per the bartar system goods were exchanged on the accounts of the need of man . But then people felt that some or the other way the bartar system was not an up to the mark idea . So they manufactured money which was non other than coins made of gold and silver . After a long period goldsmiths realised that carrying gold and silver was not so easy because of the problem of theft and the weight . So they made depositing centres were they called a meeting of people and assured everyone that they would keep the manufactured money safe. In return the depositers would be given I.O.Us which stands for I Own U (your anything) . Everyone presented at the meeting really liked this idea and deposited their money . After sometime goldsmiths realised that people never withdrawed their money . Instead they started trading I.O.Us with exchange of goods . So goldsmiths started making I.O.Us even if they didn't have money and circulated it to poor people and distributed it as loans . They also collected interests on this I.O.U . This I.O.U became the first ever fiat currency of the world and the money depositing centre became the first bank of the world . And the I.O.Us given as loan became the first biggest money theft of the world .
The major difference beetween money and currency is that Money is something which values till life existence and does not vary from country to country . Money can never be produced . Currency is something that is always produced as per the requirement of every individual . Their value changes from country to country and does not value till life existence
- Sana Ansari

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