>>520901209
>Money is whatever the people deem a convenient long-term store of value.
No, that's a long-term store of value. Money is currency redeemed by the state through taxation
Every country ran a gold standard in the Renaissance but the florin was Europe's reserve currency. Why? Because Florence was the most productive economy in Europe at the time and you needed florins to buy and sell in Florence. Everyone eventually traded with Florence in western Europe's trade network so the florin held the highest value