Refers to objects which are backed by a reputable source (usually a state actor) and used in lieu of barter to trade for goods and services. Originally currency was produced by containing a set amount of precious material or the promise that the object could be redeemed for a certain amount of a ...

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How would British counterfeiting efforts in the revolutionary war have inflated the American currency?

During the revolutionary war one of the British's espionage tactics was to flood the American market with counterfeit currency to cause mass runaway inflation. But how would that have worked? I don't ...