Portal:Money


The Money Portal

Euro coins and banknotes

Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are: medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment.

Money was historically an emergent market phenomenon that possessed intrinsic value as a commodity; nearly all contemporary money systems are based on unbacked fiat money without use value. Its value is consequently derived by social convention, having been declared by a government or regulatory entity to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private", in the case of the United States dollar.

The money supply of a country comprises all currency in circulation (banknotes and coins currently issued) and, depending on the particular definition used, one or more types of bank money (the balances held in checking accounts, savings accounts, and other types of bank accounts). Bank money, whose value exists on the books of financial institutions and can be converted into physical notes or used for cashless payment, forms by far the largest part of broad money in developed countries. (Full article...)

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A money-back guarantee, also known as a satisfaction guarantee, is essentially a simple guarantee that, if a buyer is not satisfied with a product or service, a refund will be made.

The 18th century entrepreneur Josiah Wedgwood pioneered many of the marketing strategies used today, including the satisfaction-or-money-back guarantee on the entire range of his pottery products. He took advantage of his guarantee offer to send his products to rich clientele across Europe unsolicited. The money-back guarantee was also a major tool of early U.S. mail order sales pioneers in the United States such as Richard Sears and Powel Crosley Jr. to win the confidence of consumers. (Full article...)

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In the news

13 March 2026 – Illegal drug trade in Latin America
Bolivian authorities arrest suspected Uruguayan drug cartel leader Sebastián Marset during a police operation in Santa Cruz de la Sierra. Marset, who is wanted by several countries and has a US$2 million reward linked to money laundering allegations, is detained along with four other individuals. (AFP via France 24)
12 March 2026 – Hungary–Ukraine relations
Hungary returns two seized armored cars to Ukraine but retains approximately US$82 million in cash and gold as authorities investigate suspected money laundering. (Reuters)
4 March 2026 – Scam centers in Cambodia
Taiwanese prosecutors indict 62 people, including Chen Zhi, for their alleged links to the Prince Group, a multinational criminal network that operates scam centers in Cambodia. They also charge 13 companies with offences related to the criminal organization and money laundering. (DW)
24 February 2026 – Bolivia–United States relations
Bolivia resumes operational cooperation with the United States Drug Enforcement Administration (DEA) to combat drug trafficking and organized crime after a 17-year suspension. Bolivia says the renewed collaboration will include efforts to address money laundering linked to the illicit drug trade. (Reuters)
8 February 2026 – Connections of Jeffrey Epstein
Mona Juul, Norway's ambassador to Iraq and Jordan, resigns after the foreign ministry opened an inquiry into her past contacts with Jeffrey Epstein, amid media reports that Epstein left money to her children. (AFP via Daily Tribune)
4 February 2026 – United States–Venezuela relations
Venezuelan businessmen Raúl Gorrín and Alex Saab, both allied with de jure president Nicolás Maduro, are arrested in Caracas during a joint operation with U.S. law enforcement agencies on bribery and money laundering charges, with Saab expected to be extradited to the U.S. (Reuters)

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