Under the bartering system, each participant had to find a counterpart with a mutual demand for trading. However, money’s intrinsic function of representing value, i.e. its price, has enabled people to trade without necessarily finding such a coincidence. Since money contains data about prices, it also made it easier to store wealth by keeping it in the form of money.
It is indeed an honor and we are here to accept the award with all humility and are deeply conscious of the fact that we have miles to go yet. I would also like to thank all those who are present here today to witness this award ceremony. Merci beaucoup and a bientôt. BIS central bankers’ speeches  3