Discussion 1 and 2

Prior to beginning work on this discussion, read Alejandro Chafuen’s article, Moralists and Money: From Gold to Bitcoin (Links to an external site.)Links to an external site., and respond to the following components:

• Define money and describe its functions.
• Is money a root of all evil? Why or why not?
• How are paper money (fiat) and commodity money different? How can paper money be validly used as money?
• Are credit cards money? Why or why not?
• Are cryptocurrencies such as Bitcoin, Ethereun, Ripple, Litecoin, Monero, money? Why or why not? Discuss thoroughly.
• Your initial post should be a minimum of 300 words.

Discussion 2:

The Federal Reserve’s Monetary Policy and Its Goals [WLOs: 2, 3, 4] [CLOs: 2, 4]      

By law the Federal Reserve is required to monitor unemployment and inflation. Respond to the following components:

• How does the Federal Reserve accomplish these goals?
• What are the pros and cons of using contractionary and expansionary monetary policy tools under the following scenarios: recession or depression and robust economic growth?
• What tool is the most appropriate among the different monetary policy tools available today?

Your initial post should be a minimum of 300 words.