CURRENCY - Vs - MONEY

Today I learned about the difference between currency and money thanks to this great series.

CURRENCY

• Medium of exchange
• Unit of account
• Portable
• Durable
• Divisible
• Fungible (exchangeable)

MONEY

• Medium of exchange
• Unit of account
• Portable
• Durable
• Divisible
• Fungible (exchangeable)
• Store of value

I think as a result of this corona virus crisis the world is currently going through, many more people will soon understand the importance of the store of value aspect of true money.

The trillions of dollars that are currently being printed will dilute the currency supply, drive up prices considerably and thereby transfer wealth out of peoples pockets and bank accounts to the government and the banking system.

But what types of true money are there? I can think of gold, silver and bitcoin. They have a fixed  supply (at least in the case of Bitcoin) and are therefore a good store of value. So now would be a good time to transfer some currency into money before the effects of the currency printing are being felt. Guess that's what I'll be doing today!