Currencies have no standard unit, only numbers and names: 100 yuan, 5,000,000 kwanza, 2 dollars, 5 euro.
To know what these monies are worth, you need to live in the country. Even then you only know the value of the money from prices in your own neighborhood.
Imagine the mischief if the pump where you buy gasoline had no definition of "gallon" and you could know how much gas you received only by seeing how far you could drive on what you bought.
It would be so easy to give you less and less gasoline each time you made a purchase. That is the situation with national currencies today.
We must judge the value of money by seeing many prices to reach a general conclusion.
That is the fundamental cause of inflation, deflation and wages that are too low and incomes that are stratospheric - in the millions and billions.
Join me here to learn how to make money work more accurately than it does now.
I learned how with the help of thousands of my students over more than 40 years of teaching and research as a university professor of sociology.