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A currency serves three functions: providing a means of payment, a unit of account and a store of value. Gold may be a store of value for wealth, but it is not a means of payment. You cannot pay for your groceries with it. Nor is it a unit of account. Prices of goods and services, and of financial assets, are not denominated in gold terms.
Nouriel Roubini
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"A currency serves three functions: providing a means of payment, a unit of account and a store of value. Gold may be a store of value for wealth, but it is not a means of payment. You cannot pay for your groceries with it. Nor is it a unit of account. Prices of goods and services, and of financial assets, are not denominated in gold terms."
— Nouriel Roubini #moneywealth

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A currency serves three functions: providing a means of payment, a unit of account and a store of value. Gold may be a store of value for wealth, but it is not a means of payment. You cannot pay for your groceries with it. Nor is it a unit of account. Prices of goods and services, and of financial assets, are not denominated in gold terms. — Nouriel Roubini

About Nouriel Roubini

Nouriel Roubini was a Economist from United States (1958–present).

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Frequently Asked Questions

Who said "A currency serves three functions: providing a means of payment, a unit of acco…"?
This quote is attributed to Nouriel Roubini, a Economist from United States.
When did Nouriel Roubini live?
Nouriel Roubini lived from 1958 – present.
What is this quote about?
This quote touches on Money & Wealth. Browse more quotes on these themes from the categories page.