Money: a Treasury-centric view
- đ¤ Speaker: Mario Pisani (HM Treasury and King's College, London) đ Website
- đ Date & Time: Monday 17 March 2025, 17:00 - 18:30
- đ Venue: John Bradfield Room, Darwin College and Zoom
Abstract
For markets to function a medium of exchange is required â money â but what gives value to our money? In the world of fiat money, value is not linked to an amount of precious metal, but an ability to transact predictably over time. This, in turn, is derived from the trust, stability and security of a currency. I argue that such characteristics are a function of the capacity of state institutions to safeguard them. This is because in any given currency, the ultimate safe assets are those that give you a claim on the state itself: state-issued money, central bank assets, or government securities. I explore the role of the Treasury and other state institutions in safeguarding the value of money
Series This talk is part of the Financial History Seminar series.
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Mario Pisani (HM Treasury and King's College, London) 
Monday 17 March 2025, 17:00-18:30