form of sustenance thus Turkey Phone Number List resulted in what we call as society. In some societies, still today, people would trade using items and not money as in coinage and paper currency. Precious metals came after cattle and started to be used as a Turkey Phone Number List supplementary form of exchange and then slowly took over as the primary form.During the days when barter trade was prevalent every item would have a fixed exchange rate compared with the other items that were Turkey Phone Number List traded. 1 bag of rice for 2 new clothes, 20 bags of rice for a cow and so on.
However in a simpler trading situation this Turkey Phone Number List would have been possible where the number if items on exchange were few. When the market expanded, things became complicated and more and items were started to be traded. Barter became complicated Turkey Phone Number List because hundreds and thousands of items now needed an exchange rate to be traded properly. This gave birth to money. When money was introduced, every item in the market had a fixed exchange Turkey Phone Number List rate based on a unit of currency or money.
Gold has always been accepted universally. It Turkey Phone Number List has significant value attached to it which is why people readily accept it as a form of payment. The significance of gold as an international standard of payment rose when it was accepted internationally as a form of payment. This was during the hay days when gold standard operated as a basis of international Turkey Phone Number List payments. However the International Monetary Fund took gold out of the equation and ensured that it no more plays a significant role. Gold as a means of reserve in the international market fell from Turkey Phone Number List nearly 70% to a mere 3%.