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Throughout various times in history, nationwide currencies were backed just by precious metals. Most recently, the silver standard was re-established when World War II if your system of fixed exchange rates was instituted. In 1971, the US government officially finished using this system. Since then, currencies based on a real commodity have never been used. Their valuations are based on supply and marketplace demand.
Bartering is a activity of trading items or services with another individual without the use of money.