2 ms·
I don't think american express travelers cheques are their own currency, but the bills banks originally created definitely are. It is obviously possible for a
by CyberDildonics 4y ago
I don't think american express travelers cheques are their own currency, but the bills banks originally created definitely are. It is obviously possible for a large organization and I had another example in my other comment, but I don't think these are feasible for an individual. I didn't know about all the community currencies though.
- WalterBright 4y agoThe travelers cheques are money. An individual can create their own money, too. You can write a check on any piece of paper (it doesn't have to be bank paper) and give it to anyone who'll accept it. The bank will honor it. A thief stole money from me that way - the bank accepted his check. An IOU is money. It is not legal tender, though, which is perhaps what you're thinking about.
- CyberDildonics 4y agoYou can call something money without it being its own currency. IOUs are denominated in some other fundamental unit.