This type of company makes its money primarily by charging fees to merchants who accept their cards which generally run about 2-3% of the purchase amount, as well as fees collected from the issuing of their cards. So, while Visa and MasterCard's income ...
Question: When is paper money not fiat money?
In my Finance textbook, it states, "Most paper money is fiat money." But I'd like know what paper money is not fiat money. Anyone know? Or is that just a false statement.
Best answer:
Answer by ugiidriver
The U.S used to have Silver Certificates, they had a promise printed on them that said they could be exchanged for one ounce of silver.
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Question: When is paper money not fiat money?
In my Finance textbook, it states, "Most paper money is fiat money." But I'd like know what paper money is not fiat money. Anyone know? Or is that just a false statement.
Best answer:
Answer by ugiidriver
The U.S used to have Silver Certificates, they had a promise printed on them that said they could be exchanged for one ounce of silver.
250 + Ways To Make Money
A Great Manual For Ways To Make Money. Over 250 Ways Plus Great Freebies! Low Price, But High Commission - 70% Commission To Affiliates!
Visit Website: 250 + Ways To Make Money
