Is it possible to buy as an example: Euro's for dollars by purchasing an equity or a stock?
How otherwise would one prudently purchase another countries currency.
Given what is happening in our Fed Res. right now, our dollars are becoming worth less and less. How can one protect one's savings safely from this problem?
Any info or site info appreciated.|||Wells Fargo will do this for you|||I'm pretty sure it's as simple as going into a bank and saying I want to buy x number of Euros.
Thursday, December 15, 2011
Im off to turkey in 2weeks and was wondering whether the currency is lira or euros?
Please help im confused. I've researched on the internet but still dont know whether th currency is still lira.
Please answer if you've been to turkey this year!
Thanks.|||In touristic places each of Turkish Lira (TL), Euro, Sterling and Dollar can be used. However, it is suggested to exchange your money into Turkish Liras (TL) when you arrive at your holiday resort and always pay in Turkish Liras in your shopping. You can easily find exchange offices on main streets of each city in Turkey. The rate is a lot better in Turkey so it鈥檚 better to exchange it in Turkey.
Currency rates: (1 拢 = 2.56 TL), (1 鈧?= 2.25 TL), (1 $ = 1.57 TL) on 14th June 2011.
You may watch videos and find useful info about Turkey at http://magnificentturkey.weebly.com/inde鈥?/a>|||I am off to Turkey in 2 weeks myself and i have been going for the past 6 years. They prefer for you to pay for things over there in lira but they do accept euro in some places. The lira is at a very good exchange rate at the moment in which you can exchange in travel agents, post offices or even in local supermarkets and restaurants ect when you get there.|||recently the government made some adjustments on lira and we used Yeni Lira for a couple of years. Maybe it confused you. However, we never used euro since we are not eu member. if you have euro, you can exchange it in turkey of course.|||you can use Euro in some places but it is better to have also the Lira with you as some shope specialy the small once don't take Euro, you can change Euro to TL i think the reate now is 1 Euro = 2.2 TL|||I am turkish and when I go on holiday to Turkey we convert to Lira so yes it is Lira. Usually about 拢1 is double the amount in turkish currency so it will be about 2TL or 2.5 TL. TL stands for Turkish Lira|||Yes it's lira, but 6 zeros deleted from lira in 2005. Bring euro, you can exchange it in Turkey.|||they still use the lira :) although they will be more than happy to take euro's which i found a little strange .. but you may get a better price paying in lira, have a good holiday! im back there again in july :D|||Still lira but you can use euros and sterling in lots of places|||It depends on the area, most of the places take both currencies.|||They use the Lira. I have never had a holiday in my life, anywhere.
Please answer if you've been to turkey this year!
Thanks.|||In touristic places each of Turkish Lira (TL), Euro, Sterling and Dollar can be used. However, it is suggested to exchange your money into Turkish Liras (TL) when you arrive at your holiday resort and always pay in Turkish Liras in your shopping. You can easily find exchange offices on main streets of each city in Turkey. The rate is a lot better in Turkey so it鈥檚 better to exchange it in Turkey.
Currency rates: (1 拢 = 2.56 TL), (1 鈧?= 2.25 TL), (1 $ = 1.57 TL) on 14th June 2011.
You may watch videos and find useful info about Turkey at http://magnificentturkey.weebly.com/inde鈥?/a>|||I am off to Turkey in 2 weeks myself and i have been going for the past 6 years. They prefer for you to pay for things over there in lira but they do accept euro in some places. The lira is at a very good exchange rate at the moment in which you can exchange in travel agents, post offices or even in local supermarkets and restaurants ect when you get there.|||recently the government made some adjustments on lira and we used Yeni Lira for a couple of years. Maybe it confused you. However, we never used euro since we are not eu member. if you have euro, you can exchange it in turkey of course.|||you can use Euro in some places but it is better to have also the Lira with you as some shope specialy the small once don't take Euro, you can change Euro to TL i think the reate now is 1 Euro = 2.2 TL|||I am turkish and when I go on holiday to Turkey we convert to Lira so yes it is Lira. Usually about 拢1 is double the amount in turkish currency so it will be about 2TL or 2.5 TL. TL stands for Turkish Lira|||Yes it's lira, but 6 zeros deleted from lira in 2005. Bring euro, you can exchange it in Turkey.|||they still use the lira :) although they will be more than happy to take euro's which i found a little strange .. but you may get a better price paying in lira, have a good holiday! im back there again in july :D|||Still lira but you can use euros and sterling in lots of places|||It depends on the area, most of the places take both currencies.|||They use the Lira. I have never had a holiday in my life, anywhere.
Is international wire transfer possible from and to a different currency?
I wish to transfer currencies from the Philippines to my Forex account in Cyprus. It's about USD 3000. Sender currency is Philippine Peso (PHP) and target currency is US Dollar. Any banks/institutions that provide low rates? Thanks.|||All major banks do international transfers from their local currency (in your case the Philippines) to another country, especially in US $ (still considered the ultimate currency), UNLESS there are some foreign exchange controls in one of the two countries involved, in which case you may have to provide the sending bank or receiving bank, or a regulatory government agency of either country, to provide details and justification on the reason of the transfer, or origin of the money, etc..
The money may not necessarily be transferred to your bank at the receiving end, because the sending bank may have to transfer it first to their correspondent in Cyprus, who in turn will transfer it to your bank. This does not give you additional work on your sending country. It might just take a few more days and cost you a little more money. Meanwhile all the banks involved will be using your money to earn a little interest while the money is in their possession.
The money may not necessarily be transferred to your bank at the receiving end, because the sending bank may have to transfer it first to their correspondent in Cyprus, who in turn will transfer it to your bank. This does not give you additional work on your sending country. It might just take a few more days and cost you a little more money. Meanwhile all the banks involved will be using your money to earn a little interest while the money is in their possession.
Can you back a currency with something other than gold or silver?
Would a currency that had a different form of collateral be as viable as one for which the only backing for the currency is gold or silver? Has this ever been done before?
Could you back a currency with diamonds, for example?|||Yes it could be backed by Diamonds, or for that matter it could be backed by herds or sheep,
Just as long as its backed by something that is REAL.
Right now the Federal Reserve is printing "money" with NO backing at all.... NOT A GOOD IDEA!
Could you back a currency with diamonds, for example?|||Yes it could be backed by Diamonds, or for that matter it could be backed by herds or sheep,
Just as long as its backed by something that is REAL.
Right now the Federal Reserve is printing "money" with NO backing at all.... NOT A GOOD IDEA!
How can China afford to keep its currency low?
If the demand for currency is high, its value appreciates. Demand for Chinese currency is high because it's a net exporter. Yet how can they take the hit? Secondly what is the source of funds that China invests so heavily in infrastructure and manage to keep the labour,land and interest rate so low?|||(1) China has currency controls. It isn't as if anyone who wanted to can go to China, bring in dollars, and buy yuan; similarly, Chinese aren't free to use their yuan to buy dollars.
(2) China keeps the value of the yuan from appreciating by increasing supplies - it creates yuan and uses them to buy U.S. dollars in order to keep the dollar/yuan ration approximately constant (an informal but real peg to the dollar)
http://www.nytimes.com/2010/01/01/opinio鈥?/a>
(3) China gets the money from its own people. The people as a whole are subsidizing the export industries. Personal consumption is around 35% of GDP, about half that in the U.S.
http://delong.typepad.com/egregious_mode鈥?/a>
(4) Labor, land, and interest rates are NOT low.
If labor were still cheap, these export subsidies would not be needed. Chinese industry could compete without them. But because of the success and growth of the economy, wages have gone up faster than productivity, so without the subsidies, many industries would move elsewhere.
http://www.csmonitor.com/World/Asia-Paci鈥?/a>
Land costs are rising so fast that most people see it as a bubble:
http://www.spiegel.de/international/worl鈥?/a>
And while the benchmark interest rate in the U.S. is under 0.5%, that in China is now over 5.5%
http://www.tradingeconomics.com/
It helps to get your facts straight.|||If the demand is high but the spending is high also, the value will either stay the same or lower.
In a sense, you have answered your own question:
Since demand is high for the yuan, the value should go up but, along with other methods, the Chinese are selling their currency below market value and spending it like it grows on trees. The infrastructure spending is massive as well as the purchasing of foreign debt, like the U.S.
They are also doing a bit of what the Japanese did in the 80's and guess what happened to the Japanese in the 90's?
In basic terms, currency is valued off of demand and supply. Demand drives the price up, but over supply will drive the price down. This is the major issue with the Chinese, that they do not allow equilibrium with their currency. If inflation is not allowed, then at some point the economy will pay for it. Another point is: Does the government give full reports on borrowing or spending? No.|||govmnt
(2) China keeps the value of the yuan from appreciating by increasing supplies - it creates yuan and uses them to buy U.S. dollars in order to keep the dollar/yuan ration approximately constant (an informal but real peg to the dollar)
http://www.nytimes.com/2010/01/01/opinio鈥?/a>
(3) China gets the money from its own people. The people as a whole are subsidizing the export industries. Personal consumption is around 35% of GDP, about half that in the U.S.
http://delong.typepad.com/egregious_mode鈥?/a>
(4) Labor, land, and interest rates are NOT low.
If labor were still cheap, these export subsidies would not be needed. Chinese industry could compete without them. But because of the success and growth of the economy, wages have gone up faster than productivity, so without the subsidies, many industries would move elsewhere.
http://www.csmonitor.com/World/Asia-Paci鈥?/a>
Land costs are rising so fast that most people see it as a bubble:
http://www.spiegel.de/international/worl鈥?/a>
And while the benchmark interest rate in the U.S. is under 0.5%, that in China is now over 5.5%
http://www.tradingeconomics.com/
It helps to get your facts straight.|||If the demand is high but the spending is high also, the value will either stay the same or lower.
In a sense, you have answered your own question:
Since demand is high for the yuan, the value should go up but, along with other methods, the Chinese are selling their currency below market value and spending it like it grows on trees. The infrastructure spending is massive as well as the purchasing of foreign debt, like the U.S.
They are also doing a bit of what the Japanese did in the 80's and guess what happened to the Japanese in the 90's?
In basic terms, currency is valued off of demand and supply. Demand drives the price up, but over supply will drive the price down. This is the major issue with the Chinese, that they do not allow equilibrium with their currency. If inflation is not allowed, then at some point the economy will pay for it. Another point is: Does the government give full reports on borrowing or spending? No.|||govmnt
What is the best way to exchange currency?
Hi,
Since the Australia dollar is at its highest against the US dollar I want to trade currency from AUD to USD. The problem is I'm not exactly trading millions of dollars and therefore I will be charged quite a bit by the bank if I do it through them.
What is the best way to buy currency with the smallest fees so I can get the most out of my money?|||Online Brokers are the best way to exchange currencies and commodities with low
exchange tax|||Everbank lets you buy Australian certificates of deposit. Not sure about currency exchange, but they offer a variety of services.
Since the Australia dollar is at its highest against the US dollar I want to trade currency from AUD to USD. The problem is I'm not exactly trading millions of dollars and therefore I will be charged quite a bit by the bank if I do it through them.
What is the best way to buy currency with the smallest fees so I can get the most out of my money?|||Online Brokers are the best way to exchange currencies and commodities with low
exchange tax|||Everbank lets you buy Australian certificates of deposit. Not sure about currency exchange, but they offer a variety of services.
Besides most commercial banks where can I go to exchange foreign currency?
Besides most commercial banks where can I go to exchange foreign currency? I traveled to Niagara Falls, Canada in 2005. On the way out of the country I had an impaitent bus driver who would not allow me to stop off at the Duty Free shop to exchange the currency. So I came home with just under $20 in Canadian Currency. I've held onto this money since last year. Every commercial bank I've called require you to be a customer. My credit union doesn't accept foreign currency for deposits. So I feel like I'm stuck with this money I can't use. If I knew someone going to Canada perhaps I could offer to "sell" it to them but in lieu of that I don't what to do with this money.|||some travel agencies do it|||many travel agents wil buy small amounts of foreign currency, but the exchange rate is terrible.
Also, some check cashing stores will buy and sell currency, but again, the rate is EVEN WORSE.|||There are places, exspecially in international tourist areas, that strict deal in foreign exchange. However, they charge a premium for the service. You will get a much better rate by going to a regular back.|||Did you try airports with international flights? Most airports do currency exchanges. Try to see if the airport there does that/|||Bureau de Change - they have boothes in most airports in most of the counties as well as various locations in the bigger foreign countries.
Also, some check cashing stores will buy and sell currency, but again, the rate is EVEN WORSE.|||There are places, exspecially in international tourist areas, that strict deal in foreign exchange. However, they charge a premium for the service. You will get a much better rate by going to a regular back.|||Did you try airports with international flights? Most airports do currency exchanges. Try to see if the airport there does that/|||Bureau de Change - they have boothes in most airports in most of the counties as well as various locations in the bigger foreign countries.
What would happen if the world operated under one form of currency?
What economic impacts (good %26amp; bad) would the world encounter if the entire planet operated under one form of currency?
Several (long-shot) assumptions have to be considered... so PLEASE READ before answering:
1. All countries are allies/neutral amongst each other. So no rogue nations or crazy-dictators who oppose the world currency. In other words, all nations have stable governments (doesn't just have to be a democracy - just STABLE).
2. Anti-counterfeiting methods are optimal. This form of currency is 100% counterfeit-proof.
3. The currency is NOT backed by gold any other type of precious metal.
4. All forms of existing currency, such as the dollar, pound, yen, etc are obsolete. Of course persons who owned such had them converted to the new currency fairly.
5. A multi-international "Federal Reserve" monitors the production of the new currency where 12-nation-districts print the currency. This organization operates similar to the Fed in the US.|||Since stabilization was already a premise to this question...not a whole lot would change. Counterfeiting is not the only form of foul play so I would imagine we would see plenty of cheating and unfair manipulations. America would still largely control the world interest rate, but international relationships would become very strained due to disagreements over inflation and unemployment. A move away from capitalism would be necessary because as we already know, capitalism only works when there are many different players acting alone, not all trying to act as one.
...I could go on forever.|||total mayhem|||"3. The currency is NOT backed by gold any other type of precious metal."
Either I will have tons of currency notes / gold|||Lots of country would lose their markets for they wouldn't be competitive anymore. That would create lots of instability. The Hegemonic nation would have a huge say-in about the monetary mass, other countries would have to live with the consequences of it. There would be less flexibility in economic policy.
Countries would loose lots of their sovereignty.|||This is already planned. The fiat money system would/will eventually collapse causing worldwide loss of property, starvation, and serfdom. There will be no governments. A few wealthy people will run the world. Every time the privately owned international banking cartel, known as the Federal Reserve Bank and the Crown, prints money, inflation rises and the value of your money drops.
Take the time to look at the following if you want to wake up:
http://www.modernhistoryproject.org/mhp/鈥?/a>
http://www.mecfilms.com/universe/article鈥?/a>
http://www.the7thfire.com/Politics%20and鈥?/a>
http://video.google.com/videoplay?docid=鈥?/a>
http://www.freedomdomain.com/banking/the鈥?/a>|||If the currency is not backed by gold or any other real thing, inflation will eat savers alive. That's happening now, of course. So nothing would change.
The ability of Governments to print money out of nothing, backed by nothing, gives rise to the irresistible temptation to print more and more money.
No fiat currency has ever lasted for long. They've all gone down in a hyper-inflationary spiral that ended with suffering and rioting in the streets. Gold, on the other hand, has stood as a relatively stable store of value for millennia.
A global fiat currency would be bad news, just as national fiat currencies are bad news.
Several (long-shot) assumptions have to be considered... so PLEASE READ before answering:
1. All countries are allies/neutral amongst each other. So no rogue nations or crazy-dictators who oppose the world currency. In other words, all nations have stable governments (doesn't just have to be a democracy - just STABLE).
2. Anti-counterfeiting methods are optimal. This form of currency is 100% counterfeit-proof.
3. The currency is NOT backed by gold any other type of precious metal.
4. All forms of existing currency, such as the dollar, pound, yen, etc are obsolete. Of course persons who owned such had them converted to the new currency fairly.
5. A multi-international "Federal Reserve" monitors the production of the new currency where 12-nation-districts print the currency. This organization operates similar to the Fed in the US.|||Since stabilization was already a premise to this question...not a whole lot would change. Counterfeiting is not the only form of foul play so I would imagine we would see plenty of cheating and unfair manipulations. America would still largely control the world interest rate, but international relationships would become very strained due to disagreements over inflation and unemployment. A move away from capitalism would be necessary because as we already know, capitalism only works when there are many different players acting alone, not all trying to act as one.
...I could go on forever.|||total mayhem|||"3. The currency is NOT backed by gold any other type of precious metal."
Either I will have tons of currency notes / gold|||Lots of country would lose their markets for they wouldn't be competitive anymore. That would create lots of instability. The Hegemonic nation would have a huge say-in about the monetary mass, other countries would have to live with the consequences of it. There would be less flexibility in economic policy.
Countries would loose lots of their sovereignty.|||This is already planned. The fiat money system would/will eventually collapse causing worldwide loss of property, starvation, and serfdom. There will be no governments. A few wealthy people will run the world. Every time the privately owned international banking cartel, known as the Federal Reserve Bank and the Crown, prints money, inflation rises and the value of your money drops.
Take the time to look at the following if you want to wake up:
http://www.modernhistoryproject.org/mhp/鈥?/a>
http://www.mecfilms.com/universe/article鈥?/a>
http://www.the7thfire.com/Politics%20and鈥?/a>
http://video.google.com/videoplay?docid=鈥?/a>
http://www.freedomdomain.com/banking/the鈥?/a>|||If the currency is not backed by gold or any other real thing, inflation will eat savers alive. That's happening now, of course. So nothing would change.
The ability of Governments to print money out of nothing, backed by nothing, gives rise to the irresistible temptation to print more and more money.
No fiat currency has ever lasted for long. They've all gone down in a hyper-inflationary spiral that ended with suffering and rioting in the streets. Gold, on the other hand, has stood as a relatively stable store of value for millennia.
A global fiat currency would be bad news, just as national fiat currencies are bad news.
What is the largest currency in the world?
I want to know what country has the largest currency in the world.
( Eg. British Pounds, US $ etc.)
Anyone knows??|||Largest??? You mean, the most important.
If so, that's the US Dollar. It's the global benchmark... though I wish there were more (like the Euro, Rupee, etc.)|||In value "Kuwait Dinar"...plz check with currency rates in website...u'll find that...
( Eg. British Pounds, US $ etc.)
Anyone knows??|||Largest??? You mean, the most important.
If so, that's the US Dollar. It's the global benchmark... though I wish there were more (like the Euro, Rupee, etc.)|||In value "Kuwait Dinar"...plz check with currency rates in website...u'll find that...
What is the best way for someone to get into currency exchange?
I am not very good with all this stock market, ira's, stocks, bonds, etc... I figure currency is the best way for someone who knows nothing to get started. Explain the process and maybe give me some idea where to get started please.|||One great way to invest your money in is by investing it in the largest, most liquid financial market in the world. This kind of market is called the Forex market.
In this market, you simply have to buy and sell currencies of the world with hopes of making a profit. The point of all this is that you have to buy low and sell high in order to make a profit out of your investment.
Here鈥檚 a clearer explanation on what traders do in the Forex market. For example, when a trader purchases a particular currency at a cheap price, the trader will expect the value to rise. Once the value of the particular currency he or she sells rises as expected, you can sell it at a much higher price, hence, getting your investment back together with the profit.
In this market, you simply have to buy and sell currencies of the world with hopes of making a profit. The point of all this is that you have to buy low and sell high in order to make a profit out of your investment.
Here鈥檚 a clearer explanation on what traders do in the Forex market. For example, when a trader purchases a particular currency at a cheap price, the trader will expect the value to rise. Once the value of the particular currency he or she sells rises as expected, you can sell it at a much higher price, hence, getting your investment back together with the profit.
How to report the profits and losses of my business currency transactions ?
have an LLC in Florida with election of S Corporation for tax purposes. I invoice in Euros my Europeens customers. They send me Euros in my Euros account (in Florida). After that, I sell Euros et buy US Dollars to a "regular US account". How can I report to IRS the profits and losses of my business currency transctions (that's not for investment purpose) ? Tx for your help !!|||These are really to seperate issues.
1.The sale of merchandise should be reported in $ equalivents at the time of sale.
2. If the euros are exchanged later at a different rate, gain or loss should be calculated,then reported a a gain or loss
to ignore the gain or loss could cause issues later if questioned in an audit situation.|||The simplest approach is to ignore profit and loss on the currency exchange and simply account for all sales in the dollars you receive. For example, you receive 100 Euros from one customer and convert to $60, you report the sales revenue as $60. When you receive another 100 Euros and exchange for $58, you report that sales revenue as $58.
The important thing is to keep all documents in good order in case you get audited.
If you are hedging your foreign exchange, the accounting procedures for reporting gains and losses on currency exchange are complicated. In that case you should hire a CPA.
1.The sale of merchandise should be reported in $ equalivents at the time of sale.
2. If the euros are exchanged later at a different rate, gain or loss should be calculated,then reported a a gain or loss
to ignore the gain or loss could cause issues later if questioned in an audit situation.|||The simplest approach is to ignore profit and loss on the currency exchange and simply account for all sales in the dollars you receive. For example, you receive 100 Euros from one customer and convert to $60, you report the sales revenue as $60. When you receive another 100 Euros and exchange for $58, you report that sales revenue as $58.
The important thing is to keep all documents in good order in case you get audited.
If you are hedging your foreign exchange, the accounting procedures for reporting gains and losses on currency exchange are complicated. In that case you should hire a CPA.
What is the Australian currency referred to as?
Me and a couple of my buddies plan on visiting Australian, possibly moving there (thank you Obama) and we have the exchange rate, but for some unknown reason we are unable to locate the name of their currency. |||LOL it's not referred to as 'as'
It's AUD (Australian Dollar)
To see how much your dollar goes to ours, go to your banks website, they usually have a link called Foreign Exchange, or go to a website Universal Currency Converter such as http://www.xe.com/ucc/full/
If you want to move here - see the Australian Immigration website and know your options on applying 'how to live and work in Australia' etc.. http://www.immi.gov.au|||We have Australian Dollars and cents.
We don't have a one dollar banknote, only $5, $10, $20, $50 and $100.
Our coins are 5c, 10c, 20c, 50c, $1 and $2.
Go to the website below for images, our banknotes are very different to US banknotes.
http://www.rba.gov.au/CurrencyNotes/Note鈥?/a>|||The Australian dollar replaced the Australian pound on 14 February 1966 as part of its decimalisation process. Australia used pounds, shillings and pence until 1966, when it adopted the decimal system with the Australian dollar divided into 100 cents|||Australian Dollar
http://finance.yahoo.com/currency/conver鈥?/a>
Australia is way more liberal than Obama so have fun...|||We have dollars and cents. Or rather *nicely* referred to as bucks. e.g 100 bucks|||Australian Dollar
|||We use the Australian Dollar (AUD).|||AUSTRALIAN DOLLAR - %26gt; IS MUCH BETTER THATN US DOLLAR
$ 1 COST 0.45 PENCE IN UK
I THINK YOU MAY USE US DOLLARS BUT IM NOT SURE
THIS CURRENCYS ARE QUITE SIMMILAR
It's AUD (Australian Dollar)
To see how much your dollar goes to ours, go to your banks website, they usually have a link called Foreign Exchange, or go to a website Universal Currency Converter such as http://www.xe.com/ucc/full/
If you want to move here - see the Australian Immigration website and know your options on applying 'how to live and work in Australia' etc.. http://www.immi.gov.au|||We have Australian Dollars and cents.
We don't have a one dollar banknote, only $5, $10, $20, $50 and $100.
Our coins are 5c, 10c, 20c, 50c, $1 and $2.
Go to the website below for images, our banknotes are very different to US banknotes.
http://www.rba.gov.au/CurrencyNotes/Note鈥?/a>|||The Australian dollar replaced the Australian pound on 14 February 1966 as part of its decimalisation process. Australia used pounds, shillings and pence until 1966, when it adopted the decimal system with the Australian dollar divided into 100 cents|||Australian Dollar
http://finance.yahoo.com/currency/conver鈥?/a>
Australia is way more liberal than Obama so have fun...|||We have dollars and cents. Or rather *nicely* referred to as bucks. e.g 100 bucks|||Australian Dollar
|||We use the Australian Dollar (AUD).|||AUSTRALIAN DOLLAR - %26gt; IS MUCH BETTER THATN US DOLLAR
$ 1 COST 0.45 PENCE IN UK
I THINK YOU MAY USE US DOLLARS BUT IM NOT SURE
THIS CURRENCYS ARE QUITE SIMMILAR
How do credits (their currency) in Star Trek work?
I never really watched it but I'd like to know how their currency works because from what I hear it's a great system with credits and whatnot. Can anyone help me out?|||Captain Kirk actually says that they don't use currency in the 24th century in Star Trek 4 when the waiter at a restaurant brings the bill, forcing his date to pay. This is contradicted in various TV shows, but basically the monetary system has never been adequately explained, and the information that is available from the movies and TV shows contradicts itself.
Live long and prosper.|||http://en.wikipedia.org/wiki/Federation_鈥?/a>|||For starters it's Star Trek, for second.... well.... it's Star Trek.|||The currency is based on your needs, and your job. Now, in theory, this does sound like it would work. Yet, on one Star Trek episode, the machine deck had an uprising against the Captain (Picard?). Simply, even though your needs were being met. Money was not needed. The machine hands felt ignored and 'not as important' as other positions on the ship. So even if the 'money' os distributed, this episode pointed out the possibility of how we view and define classes of people.|||In Tos it works like paper dollars. From TNG onwards there is none.
Live long and prosper.|||http://en.wikipedia.org/wiki/Federation_鈥?/a>|||For starters it's Star Trek, for second.... well.... it's Star Trek.|||The currency is based on your needs, and your job. Now, in theory, this does sound like it would work. Yet, on one Star Trek episode, the machine deck had an uprising against the Captain (Picard?). Simply, even though your needs were being met. Money was not needed. The machine hands felt ignored and 'not as important' as other positions on the ship. So even if the 'money' os distributed, this episode pointed out the possibility of how we view and define classes of people.|||In Tos it works like paper dollars. From TNG onwards there is none.
How would a global currency effect the current world market?
With all this talk about a world currency lately, I am curious about what effect that would have on things such as the stock market and individual economies.|||Since the dollar is currently the global reserve currency, the dollar is mostly what will suffer.
http://www.livevideo.com/video/rclark23/鈥?/a>
The music is melodramatic (supporter created) but it is the prediction that already half came true, and if you listen to it, it is educational. It is being taken off the web on most sites, I don't know why.|||We should have pushed for it when the Euro, Yen, Ruble were tanking. Instead the overseers (world bankers) waited until (their buddies), Obama %26amp; his Federal Reserve made the Dollar tank.
Now we'll take the beating, how convenient ... for the master plan.|||The dollar is used as the medium of exchange around the world. This gives our dollar it's purchasing power. If they went to a global currency, we would take a beating. It would ruin us.|||They have to tear down the old to make room for the new.
http://www.livevideo.com/video/rclark23/鈥?/a>
The music is melodramatic (supporter created) but it is the prediction that already half came true, and if you listen to it, it is educational. It is being taken off the web on most sites, I don't know why.|||We should have pushed for it when the Euro, Yen, Ruble were tanking. Instead the overseers (world bankers) waited until (their buddies), Obama %26amp; his Federal Reserve made the Dollar tank.
Now we'll take the beating, how convenient ... for the master plan.|||The dollar is used as the medium of exchange around the world. This gives our dollar it's purchasing power. If they went to a global currency, we would take a beating. It would ruin us.|||They have to tear down the old to make room for the new.
What would happen if other nations banned their local currency and adopted US dollars?
Let's say that Europe, Middle-East, Asia, Oceania, and South America banned their local currency and adopted US dollars. What would happen to our currency and standard of living? How can we encourage other nations to stop using their currency and start using ours, IF it helps us?|||Why would they want the US dollar when we have no confidence in it as of right now?|||It shouldn't really make that much difference, America is pretty much leading all economies (only in some ways) If America goes up we all go up. If America goes down, we all go down. This has happened now, the small banls and large banks went into debt and it may cause a recession. This just means the US Dollar is probably good where it is. It is natural to have booms and recession in the economy. Your standard of living wouldn't fall. Atleast I don't think so. If anything you'll bring other peoples standards up. I wouldn't try to encourage people to use one currency (just my opinion)!!!|||In the short term, it would be a financial strain for them to do, which would end up haunting them for anouther decade to come.
In the long term, while the poorer nations will be alright, in regards to their money printing, the richer nations will have to bust out more money then before, which will drastically increase the inflation rate to unprecedented levels.
Overall, no-one wins. It just makes things a bit easier for tourists.|||to an extent some countries have already done this just not with the US dollar. The euro is used in all European nations except for the UK. It has worked well for them. I don't see this happening where all other countries accept our dollar as their currency. As a matter of fact it would probably cause the value to decrease.
Our dollar is backed by our gold, the more money we print the more we are stretching the worth of our gold. We only have a set amount of gold so when more money is put into the system each dollar has to decrease in value for the gold to cover it. We would have to print a massive amount of money to be distributed world wide. THis would in effect cause the money to be worthless because there would be so much more currency than gold.
It is actually better for us to have the rest of the world judge the value of their currency against ours.|||Well this wouldn't happen. Because this means every country would need to unionize into one super nation, and throw away their form of economy, and adopt ours. And it wouldn't help us out either because more dollars would need to printed, making the dollar less valuable. It would actually crush us because the value of the US Dollar is based on supply and demand of good and services that the US provides to the rest of the world. The reason why the value of the USD has dropped over the pas few years is because Europe and China have been lowering the prices of their goods and services. This decline of the USD will eventually come to a halt and its value will rise again because people in the EU and China will be looking to make more money, so they will raise the prices of their goods and services and eventually the USD will be back on top again... But the plan of unionizing every world economy would completely eliminate a value system and it destroy the standard of living in the US. For example, if the US, Canada, and Mexico became unionized into the North American Union and adopted any type of currency, the people in the US would be getting crushed because with the poverty and unemployment rates in Mexico and with how bad Mexico's economy is, Americans would only be getting an equivalency of around 6 cents to every dollar we own. We would be going from living very, very decent lives to almost starving. There are more poor countries in the world than rich countries. So just think how one poor country (Mexico) effects two rich countries (the US and Canada)... Now think about how more than half of 195 countries (there are 195 countries in the world) would effect the rest of the countries... It just wouldn't work.
I completely understand the question you're asking. You're thinking that if other countries us the US Dollar, then the US Dollar would be worth more. But, in reality, it just doesn't work out that way.
Now if there were a balanced amount of jobs along with a balanced amount of money, then it might work out on the smaller scale. That's how the Europe transitioned from several forms of currency to one. But it just doesn't work out on the global scale.
**************************************鈥?br>
End Fed Now (one of your posters) is completely right. Even though I just said everything that would make you not want to support it, we do actually have somewhat of a setup like that and it does help the US Dollar stay as strong as it does. What I was talking about was unionizing poor economies with rich economies; that doesn't work. But what End Fed Now said is completely correct.|||If everyone adopts the US currency that means US will get a free ride on the world economy, we will be able to import as much goods from other countries without having to export goods in return. This is essentially a form of slavery.
This is ACTUALLY very similiar to the current system, since the dollar is the world's reserve currency. This means that the world has to use to the dollar to facilitate international transactions, such as buying oil. Why do you think the US is so wealthy? It is not because we produce a lot of goods, but it is rather because we can print money and buy things.|||A global currency would be a great idea, but it would need to have the same basis as the Euro, not the US Dollar!
No currency that is controled by an organisation like the Federal reserve should ever form the basis of a global currency.
If you don't understand why I am saying this, please spend a couple of hours exploring "how money works" on youtube, then go to www.zeitgeistmovie.com and spend a couple more hours watching the two films on there.|||Think about it this way.
If you lived in a small community of people where each person produced goods and traded with each other. If you are the only person who has a printing press to issue money, then you would no longer have to work because everyone would accept your money.
Thats how it is for the US today.|||yeah, that's going to happen. We're a lot closer to adopting a different currency than anybody else is to adopting ours.|||You should read about the Argentinians experience with that. They converted their monetary system to dollars and it ruined their economy. Any country who does this falls pray to the monopoly of the currency producing country.|||Strength of the dollar would go up as the demand for the Dollar skyrocketed.
Would hurt American manufactures that sell goods overseas, but it would help Americans that bought goods overseas.|||Several countries have actually done this. Panama and El Salvador are examples, along with a handful of small Pacific Island countries.
It doesn't affect us much either way, really.|||Euromerica|||I'd shoot myself.
In the long term, while the poorer nations will be alright, in regards to their money printing, the richer nations will have to bust out more money then before, which will drastically increase the inflation rate to unprecedented levels.
Overall, no-one wins. It just makes things a bit easier for tourists.|||to an extent some countries have already done this just not with the US dollar. The euro is used in all European nations except for the UK. It has worked well for them. I don't see this happening where all other countries accept our dollar as their currency. As a matter of fact it would probably cause the value to decrease.
Our dollar is backed by our gold, the more money we print the more we are stretching the worth of our gold. We only have a set amount of gold so when more money is put into the system each dollar has to decrease in value for the gold to cover it. We would have to print a massive amount of money to be distributed world wide. THis would in effect cause the money to be worthless because there would be so much more currency than gold.
It is actually better for us to have the rest of the world judge the value of their currency against ours.|||Well this wouldn't happen. Because this means every country would need to unionize into one super nation, and throw away their form of economy, and adopt ours. And it wouldn't help us out either because more dollars would need to printed, making the dollar less valuable. It would actually crush us because the value of the US Dollar is based on supply and demand of good and services that the US provides to the rest of the world. The reason why the value of the USD has dropped over the pas few years is because Europe and China have been lowering the prices of their goods and services. This decline of the USD will eventually come to a halt and its value will rise again because people in the EU and China will be looking to make more money, so they will raise the prices of their goods and services and eventually the USD will be back on top again... But the plan of unionizing every world economy would completely eliminate a value system and it destroy the standard of living in the US. For example, if the US, Canada, and Mexico became unionized into the North American Union and adopted any type of currency, the people in the US would be getting crushed because with the poverty and unemployment rates in Mexico and with how bad Mexico's economy is, Americans would only be getting an equivalency of around 6 cents to every dollar we own. We would be going from living very, very decent lives to almost starving. There are more poor countries in the world than rich countries. So just think how one poor country (Mexico) effects two rich countries (the US and Canada)... Now think about how more than half of 195 countries (there are 195 countries in the world) would effect the rest of the countries... It just wouldn't work.
I completely understand the question you're asking. You're thinking that if other countries us the US Dollar, then the US Dollar would be worth more. But, in reality, it just doesn't work out that way.
Now if there were a balanced amount of jobs along with a balanced amount of money, then it might work out on the smaller scale. That's how the Europe transitioned from several forms of currency to one. But it just doesn't work out on the global scale.
**************************************鈥?br>
End Fed Now (one of your posters) is completely right. Even though I just said everything that would make you not want to support it, we do actually have somewhat of a setup like that and it does help the US Dollar stay as strong as it does. What I was talking about was unionizing poor economies with rich economies; that doesn't work. But what End Fed Now said is completely correct.|||If everyone adopts the US currency that means US will get a free ride on the world economy, we will be able to import as much goods from other countries without having to export goods in return. This is essentially a form of slavery.
This is ACTUALLY very similiar to the current system, since the dollar is the world's reserve currency. This means that the world has to use to the dollar to facilitate international transactions, such as buying oil. Why do you think the US is so wealthy? It is not because we produce a lot of goods, but it is rather because we can print money and buy things.|||A global currency would be a great idea, but it would need to have the same basis as the Euro, not the US Dollar!
No currency that is controled by an organisation like the Federal reserve should ever form the basis of a global currency.
If you don't understand why I am saying this, please spend a couple of hours exploring "how money works" on youtube, then go to www.zeitgeistmovie.com and spend a couple more hours watching the two films on there.|||Think about it this way.
If you lived in a small community of people where each person produced goods and traded with each other. If you are the only person who has a printing press to issue money, then you would no longer have to work because everyone would accept your money.
Thats how it is for the US today.|||yeah, that's going to happen. We're a lot closer to adopting a different currency than anybody else is to adopting ours.|||You should read about the Argentinians experience with that. They converted their monetary system to dollars and it ruined their economy. Any country who does this falls pray to the monopoly of the currency producing country.|||Strength of the dollar would go up as the demand for the Dollar skyrocketed.
Would hurt American manufactures that sell goods overseas, but it would help Americans that bought goods overseas.|||Several countries have actually done this. Panama and El Salvador are examples, along with a handful of small Pacific Island countries.
It doesn't affect us much either way, really.|||Euromerica|||I'd shoot myself.
How will changing our currency from the "dollar" to the new "Amero" solve this economic crisis?
I understand that the US government will switch to the new "Amero" once the dollar loses all of its value or once the government is bankrupt.
Why would switching to a new currency solve that problem?|||it wont, it's just part of the plan to create a new world order..once they get the Norh american union, they will merge will europe, pacific and african union, and we will all be in big trouble|||Bush tried and failed to bring the "Amero" I am glad he did.
http://www.oicu2.com/afc/amero_note.jpg|||It would let us drag Canada down with us to the level of Mexico.
Why would switching to a new currency solve that problem?|||it wont, it's just part of the plan to create a new world order..once they get the Norh american union, they will merge will europe, pacific and african union, and we will all be in big trouble|||Bush tried and failed to bring the "Amero" I am glad he did.
http://www.oicu2.com/afc/amero_note.jpg|||It would let us drag Canada down with us to the level of Mexico.
What would be our currency if the dollar collapes?
So many people are concerned about the US dollar collapsing. Some people believe that it will collapse by 2012. What if it did happen? What would our currency be? Would the borders be closed? Could we buy plane tickets with gold?|||Russian Ruble or Chinese Yuan|||Local currency, which some regions already use.
See http://www.ithacahours.com or http://www.ithacahours.org
Also barter credits, as with the Time Bank started in Washington and other places.
|||Should the dollar collapse, the most valuable things you could probably have are nonperishable food items, guns, and plenty of ammunition.|||What does it mean 'the dollar collapses'? Such a statement is as nonsensical as the question "how would we measure the distance if the mile collapses".
See http://www.ithacahours.com or http://www.ithacahours.org
Also barter credits, as with the Time Bank started in Washington and other places.
Report Abuse
|||Should the dollar collapse, the most valuable things you could probably have are nonperishable food items, guns, and plenty of ammunition.|||What does it mean 'the dollar collapses'? Such a statement is as nonsensical as the question "how would we measure the distance if the mile collapses".
What will happen when the Yuan is the worlds reserve currency?
Is this a possibility and if so, how long until it happens? Would it be smart to invest in Yuan currency now as it should buy more american dollars after the switch?|||Won't happen. China does not recognize many tenets of international law. No country will allow them to be a reserve currency and subject themselves to huge potential losses. Japan was rumored to be a reserve currency in the 1980's. Didn't happen.|||Will probably not happen anytime soon and probably not later either. Still the days of heavy reliance on the dollar as the reserve currency is probably slowly fading. The USD is becoming increasingly under pressure with the mounting debt of the US economy and the stagnating competitiveness of that nation. As the US becomes less of a force in the world economy, the Chinese Yuan will become more of a force in international trading. In Asia more and more countries are using it as the standard for settlement of trades.
So for sure Yuan will become increasingly used in international settlements, but probably not a world reserve. Still the days of US prominence is becoming a fading memory. As the dollar loose its value less countries will be interested in holding the currency.
So for sure Yuan will become increasingly used in international settlements, but probably not a world reserve. Still the days of US prominence is becoming a fading memory. As the dollar loose its value less countries will be interested in holding the currency.
What is the cost for the premium account in indian currency for rapidshare ?
1. What is the cost for the premium account for one month in indian
Currency (Rs) ?
2.Whether two people can share the rapidshare account if they paid the
amount for the rapidshare premium account together?
3.Per day How much GB or MB I can Download from rapidshare ?
4.Where can i search for the psd templates zone or whatever zone i like ?|||1. it depends on the days package a) 30 days 460 rs b) 90 days 1116 rs c) 180 days 1772 rs
d) 1 year 3610 rs
2. no this not possible only one user for one account
3.it is unlimited for premium account
4. whatever zone u like is better.|||Rapidshare Premium account 5.99 Euros/ Month
1 Euros = 60.9 Rupee, 5.99 Euros = 364 Rupee
Free Rapidshare Premium Account 100 % Working
[url]www.freerapidshare.us[/鈥?
|||Indians can purchase premium accounts from http://www.officialreseller.in/
You can pay using: net banking, cash deposit in any bank in india, all banks accepted : Axis,ICICI,SBI,SBH,SBM,punjab,鈥?bank etc
You can also pay in rupees using your ATM debit card that your bank gives you
|||You can search the web for some free accounts. They are not much but you still can find some if you don't have money to pay for it. I've just get a premium account from this site http://freerapidshareaccount.estuffs.info yesterday. I don't know someone has changed the password or not but there are tons of accounts out there.|||hi i just bought rapidshare account before some days
its cost 400 to 460 Rs. ( price will be variation due to currancy change)
it is for 01 Month and limit is approx 24 GB
there is no per day limit download upload limit.
Currency (Rs) ?
2.Whether two people can share the rapidshare account if they paid the
amount for the rapidshare premium account together?
3.Per day How much GB or MB I can Download from rapidshare ?
4.Where can i search for the psd templates zone or whatever zone i like ?|||1. it depends on the days package a) 30 days 460 rs b) 90 days 1116 rs c) 180 days 1772 rs
d) 1 year 3610 rs
2. no this not possible only one user for one account
3.it is unlimited for premium account
4. whatever zone u like is better.|||Rapidshare Premium account 5.99 Euros/ Month
1 Euros = 60.9 Rupee, 5.99 Euros = 364 Rupee
Free Rapidshare Premium Account 100 % Working
[url]www.freerapidshare.us[/鈥?
Report Abuse
|||Indians can purchase premium accounts from http://www.officialreseller.in/
You can pay using: net banking, cash deposit in any bank in india, all banks accepted : Axis,ICICI,SBI,SBH,SBM,punjab,鈥?bank etc
You can also pay in rupees using your ATM debit card that your bank gives you
Report Abuse
|||You can search the web for some free accounts. They are not much but you still can find some if you don't have money to pay for it. I've just get a premium account from this site http://freerapidshareaccount.estuffs.info yesterday. I don't know someone has changed the password or not but there are tons of accounts out there.|||hi i just bought rapidshare account before some days
its cost 400 to 460 Rs. ( price will be variation due to currancy change)
it is for 01 Month and limit is approx 24 GB
there is no per day limit download upload limit.
Why is the British currency always worth more than other countries?
Yet the British are always complaining about the state of the UK economy.
Is it because the British dictate the world's economy?
Is there any country where the currency is worth more than the pound?|||Hum, just to lift a bit of confusion, the Pound is indeed a "strong" currency, but not half as strong as the Euro or the US Dollar.
I think you're confusing the nominal value of the Pound (which is indeed high), or its exchange rate, with its "strength".
My point is that what matters isn't this exchange rate, but what you can buy with your currency, and what's the evolution of this exchange rate.
Today a Pound is worth 1.4781 Euros, but you you have 1000 Pounds and I have 1600 Euros, I'm richer than you, and Bill Gates is richer than us because he has billions of USD.
Indeed, if the evolution of those currency make that the USD get depreciated (you get less Pounds for the same amount of USD), then Bill will be relatively poorer if the wealth don't change.
Only in the meantime Bill could have gotten a lot more of the USD, and then be even richer than us.|||Currency values is dictated by country's economy; Second, demand and supply also dictates the value of the currency. you may remember the black Wednesday that brought the downfall of Norman Lamont in the late early 90's including the downfall of Conservative rule!
British wingers always complain about everything for nothing! They should travel more to see how other countries are doing!
Britain certainly dictates the world economy; Indeed, Britain dictates virtually everything on this planet. Haven't you noticed that Portuguese police have to seek advice from British police about disappearance of Madeleine; Also, I understand Japanese have asked help to find killers of British citizen in Tokyo; Jamaicans have already asked for British help in solving the death of Pakistan's Cricket coach; Kenyans also asked for the British help;
In short, this world would collapse without the British; Don't you think we should colonise all the countries of the world so that refugees and asylum seekers don't come here!!|||it depends what you mean by "worth more" if you mean that the exchange rate FX/GBP is greater than one for most currencies, then yes o n a nominal level.
Suppose I start a country and declared my currency exchange rate to be 10 Pounds per 1 Mycurr. Then 3 months later the exhcnage rate goes to 5 Pounds per 1 Mycurr. My currency is weak, but it is still "woth more" than the GBP.
Strength and worth are relative terms. The Pound is strong against the USD at 2/GBP recently, but the GBP was weak in 2001 when it was at 1.40/GPB. The pound is not strong now if you compare it to the 80s when it was at 2 to 1. it is still at par...|||We have a strong pound that is good for us as your money
goes further like when you go on holiday or purchase
from abroad.Deadman seems to give a good explanation.|||It isnt really worth more. The exchange rate is usually - but not always - such that 1 pound is equivalent to more than 1 of any other currency. But thats just an accident of history. When new currencies come in to being then they are usually set equivalent to whatever is the nearest big existing currency at one to one or to whatever its predecessor currency was or, in the distant past, equal to a certain amount of gold or silver. Over time prices then rise at different rates in different currencies and the exchange rate should adjust so as to keep the cost of buying things the same in every country. An example: at the moment, 拢1 = euro1.48 is the exchange rate: then if you actually had 148 euros you should be able to buy the same amount of goods in Europe as you could in the UK with 拢100. This is called Purchasing Power Parity or PPP. But that doesnt mean that the British currency is 'worth more' than the euro. For that you need to look at deviations from PPP: compare the prices of CDs in shops in France with those in England. If you use the current exchange rate you will find that CDs in France are more expensive. That is a sign that the euro is stronger and 'worth more' as a currency than the pound (dont mix this up with one euro and one pound - thats not the point). Do the same with the US - you'll find that the dollar is weaker than the pound. Really you should use a variety of goods and services to do this but you will generally find that euro is strong and dollar weak relative to pound. These deviations are caused by a lot of things: relative interest rates, investment flows, trade flows, political pressures, etc etc.
By the way, one of your earlier answerers doesnt realise whats recently been happening in financial markets. The pound is once again in increasing demand by central banks as a reserve currency. Its the worlds 3rd most traded currency - ahead of the Yen despite Japan being twice the size of the UK. Dollar and euro are most heavily traded of course,|||There are some currencies that are worth more than the pound - e.g. 1 Maltese Lira is worth 拢1.58.
You have a good point though. The pound is one of the strongest currencies in the world and is worth more than most. This is not because the UK dictates the world economy in the present day, however. The pound has been historically stronger than most other currencies since the days of the British Empire, when the UK really did dictate the worlds economy.
In recent years currencies around the world have become weaker due to a multitude of factors in the global economy. The long period of economic stability which the UK economy has experienced as a result of the chancellor Gordon Brown's prudent financial management, on the other hand, has only served to further strengthen the position of the pound, whose value currently sits at 拢1 GBP = nearly $1.99 USD.|||It is partly because we imported a 3rd world cheap labour force , this will backfire on us when the effect on UK property prices becomes apparent.|||because they are full of themselves from the redcoat days|||London, is now the economic and business centre of the world. Every single major company trades through London to reach the global market which does give us a very good advantage.|||A currency is just a medium for exchange of goods and services. A currency itself usually has very little value, it is what you can buy with that currency which is important.
You could for example express currency as apples in the UK, and pears in Euroland. Then ask the question why are apples always worth more than pears?
The answer therefore, is that a currency attracts demand by offering goods, and services and by being a currency which is stable and safe in times of difficult economic downturns. (usually more accurately described as political stability)
By restricting supply of a currency, the currency remains strong relative to other currencies.
Over the last 5 years or so, the pound has traded between 1.4 and 1.5 Euros to 拢1 pretty consistently. It does not look particularly strong compared to the Euro. In fact it looks like it is fairly stable compared to the Euro.
The US dollar on the other hand has been getting weaker and weaker over the last 5 years. This is probably more to do with the UK pegging its currency against the Euro rather than the dollar, and jointly the Euro and Sterling appear to be adopting tight monetary policies. This is different to the USA (in recent times) where a more loose monetary policy appears to have been adopted.
One would expect therefore that the US economy may experience more inflation in the prices of goods and services than the UK and Europe in order to balance out the changes in value of the currencies. Over the long term this may be true, but in the short term there may be some opportunities to get some bargain skiing holidays or whatever takes your fancy!|||Do You actually read the financial section of the newspapers? You cannot miss it. Go to Fashion. Then the Gossip Section, and ask for instructions.|||the economy within the uk sucks, but i agree the economy of the 拢 around the world is much better.
being british i wouldnt say we dictate the worlds economy far from it. Id say we just print less money than most which is a conributor to keeping it in high demand.
The Euro hmmm a good idea but not when the 拢 has such a global influence.
Ironicly I find that when im abroad no one wants 拢, eveyone wants euro's or us dollars.
so maybe to the person on the street they are worth more
Is it because the British dictate the world's economy?
Is there any country where the currency is worth more than the pound?|||Hum, just to lift a bit of confusion, the Pound is indeed a "strong" currency, but not half as strong as the Euro or the US Dollar.
I think you're confusing the nominal value of the Pound (which is indeed high), or its exchange rate, with its "strength".
My point is that what matters isn't this exchange rate, but what you can buy with your currency, and what's the evolution of this exchange rate.
Today a Pound is worth 1.4781 Euros, but you you have 1000 Pounds and I have 1600 Euros, I'm richer than you, and Bill Gates is richer than us because he has billions of USD.
Indeed, if the evolution of those currency make that the USD get depreciated (you get less Pounds for the same amount of USD), then Bill will be relatively poorer if the wealth don't change.
Only in the meantime Bill could have gotten a lot more of the USD, and then be even richer than us.|||Currency values is dictated by country's economy; Second, demand and supply also dictates the value of the currency. you may remember the black Wednesday that brought the downfall of Norman Lamont in the late early 90's including the downfall of Conservative rule!
British wingers always complain about everything for nothing! They should travel more to see how other countries are doing!
Britain certainly dictates the world economy; Indeed, Britain dictates virtually everything on this planet. Haven't you noticed that Portuguese police have to seek advice from British police about disappearance of Madeleine; Also, I understand Japanese have asked help to find killers of British citizen in Tokyo; Jamaicans have already asked for British help in solving the death of Pakistan's Cricket coach; Kenyans also asked for the British help;
In short, this world would collapse without the British; Don't you think we should colonise all the countries of the world so that refugees and asylum seekers don't come here!!|||it depends what you mean by "worth more" if you mean that the exchange rate FX/GBP is greater than one for most currencies, then yes o n a nominal level.
Suppose I start a country and declared my currency exchange rate to be 10 Pounds per 1 Mycurr. Then 3 months later the exhcnage rate goes to 5 Pounds per 1 Mycurr. My currency is weak, but it is still "woth more" than the GBP.
Strength and worth are relative terms. The Pound is strong against the USD at 2/GBP recently, but the GBP was weak in 2001 when it was at 1.40/GPB. The pound is not strong now if you compare it to the 80s when it was at 2 to 1. it is still at par...|||We have a strong pound that is good for us as your money
goes further like when you go on holiday or purchase
from abroad.Deadman seems to give a good explanation.|||It isnt really worth more. The exchange rate is usually - but not always - such that 1 pound is equivalent to more than 1 of any other currency. But thats just an accident of history. When new currencies come in to being then they are usually set equivalent to whatever is the nearest big existing currency at one to one or to whatever its predecessor currency was or, in the distant past, equal to a certain amount of gold or silver. Over time prices then rise at different rates in different currencies and the exchange rate should adjust so as to keep the cost of buying things the same in every country. An example: at the moment, 拢1 = euro1.48 is the exchange rate: then if you actually had 148 euros you should be able to buy the same amount of goods in Europe as you could in the UK with 拢100. This is called Purchasing Power Parity or PPP. But that doesnt mean that the British currency is 'worth more' than the euro. For that you need to look at deviations from PPP: compare the prices of CDs in shops in France with those in England. If you use the current exchange rate you will find that CDs in France are more expensive. That is a sign that the euro is stronger and 'worth more' as a currency than the pound (dont mix this up with one euro and one pound - thats not the point). Do the same with the US - you'll find that the dollar is weaker than the pound. Really you should use a variety of goods and services to do this but you will generally find that euro is strong and dollar weak relative to pound. These deviations are caused by a lot of things: relative interest rates, investment flows, trade flows, political pressures, etc etc.
By the way, one of your earlier answerers doesnt realise whats recently been happening in financial markets. The pound is once again in increasing demand by central banks as a reserve currency. Its the worlds 3rd most traded currency - ahead of the Yen despite Japan being twice the size of the UK. Dollar and euro are most heavily traded of course,|||There are some currencies that are worth more than the pound - e.g. 1 Maltese Lira is worth 拢1.58.
You have a good point though. The pound is one of the strongest currencies in the world and is worth more than most. This is not because the UK dictates the world economy in the present day, however. The pound has been historically stronger than most other currencies since the days of the British Empire, when the UK really did dictate the worlds economy.
In recent years currencies around the world have become weaker due to a multitude of factors in the global economy. The long period of economic stability which the UK economy has experienced as a result of the chancellor Gordon Brown's prudent financial management, on the other hand, has only served to further strengthen the position of the pound, whose value currently sits at 拢1 GBP = nearly $1.99 USD.|||It is partly because we imported a 3rd world cheap labour force , this will backfire on us when the effect on UK property prices becomes apparent.|||because they are full of themselves from the redcoat days|||London, is now the economic and business centre of the world. Every single major company trades through London to reach the global market which does give us a very good advantage.|||A currency is just a medium for exchange of goods and services. A currency itself usually has very little value, it is what you can buy with that currency which is important.
You could for example express currency as apples in the UK, and pears in Euroland. Then ask the question why are apples always worth more than pears?
The answer therefore, is that a currency attracts demand by offering goods, and services and by being a currency which is stable and safe in times of difficult economic downturns. (usually more accurately described as political stability)
By restricting supply of a currency, the currency remains strong relative to other currencies.
Over the last 5 years or so, the pound has traded between 1.4 and 1.5 Euros to 拢1 pretty consistently. It does not look particularly strong compared to the Euro. In fact it looks like it is fairly stable compared to the Euro.
The US dollar on the other hand has been getting weaker and weaker over the last 5 years. This is probably more to do with the UK pegging its currency against the Euro rather than the dollar, and jointly the Euro and Sterling appear to be adopting tight monetary policies. This is different to the USA (in recent times) where a more loose monetary policy appears to have been adopted.
One would expect therefore that the US economy may experience more inflation in the prices of goods and services than the UK and Europe in order to balance out the changes in value of the currencies. Over the long term this may be true, but in the short term there may be some opportunities to get some bargain skiing holidays or whatever takes your fancy!|||Do You actually read the financial section of the newspapers? You cannot miss it. Go to Fashion. Then the Gossip Section, and ask for instructions.|||the economy within the uk sucks, but i agree the economy of the 拢 around the world is much better.
being british i wouldnt say we dictate the worlds economy far from it. Id say we just print less money than most which is a conributor to keeping it in high demand.
The Euro hmmm a good idea but not when the 拢 has such a global influence.
Ironicly I find that when im abroad no one wants 拢, eveyone wants euro's or us dollars.
so maybe to the person on the street they are worth more
What currency does George Soros use to protect his billions?
I know he has alot of Gold and invests in Oil in Brazil. What currency does he use, since he is trying to destroy the value of the dollar- He said he profits from destroying currency of countries, how does he do it? What does he invest in to profit a billion dollars on destruction of peoples lives?|||Bullets.|||Is he married to a Chinese woman and living in Red China like Fox's Rupert Murdoch?|||He should do like the Koch brothers and use the Chinese yuan.|||Any proof for your assertions, or are you once again FOS?
What is the best currency to take on holiday to Turkey?
Going to Bodrum on holiday in May and im not sure what the best currency to take is. I know that they use Lira but i have heard the Euro, GBP or USD is preffered. Any advice welcome.
Thanks in advance.|||There is only one reason theyd prefer to get any other currency than Lira from u. It is, applying their own exchange rate. so for example 2 Liras are 1 Euro right now. They'd give u 1.8 for 1 Euro. So whenever u reach here, ask your tour guide where u can change your money for the best price. Also before departing u may see the rates in Turkey and the rates in the UK and get your money changed according to the price. U might save as much as 100 pounds for 2000-3000 pounds or euros.
And no, no shopkeeper would "go ahead" and fool u that u should exchange 5 Euros for where it was supposed to be 80 cents if of course u dont look like Goofy of Disney's. Turkey is not a 3rd world or a closed market country where Lira has no convertibility. Lira is quite convertible (i hope u have an idea about what convertibility is) and there's no reason for a Turkish person to run and grab the first foreign banknote in sight. The only reason would be what ive described above.|||Heyy 谋m on hol谋day 谋n Turkey r谋ght now hence the reason my 谋's come out l谋ke th谋s, w谋thout the dot. stup谋d turk谋sh keyboads. anyway haha yeah L谋ra 谋s used 谋n Turkey no matter where you go, however 谋n tour谋st谋c places l谋ke Bodrum some stalls and shops accept Euros. Id say take L谋ra though because stall owners w谋ll r谋p you off 谋f they see you are a tour谋st that has fore谋gn money, so for example 谋f someth谋ng 谋s only 2 lira wh谋ch 谋s 谋n GBP approx 80p then theyll go ahead and say 5 GBP and you would have got r谋pped off. So L谋ra :)
Have a cool hol谋day btw! : )|||Actually the local currency is the Turkish Lira, and that is preferred. But you could take Euros too.|||Turkish lira
Thanks in advance.|||There is only one reason theyd prefer to get any other currency than Lira from u. It is, applying their own exchange rate. so for example 2 Liras are 1 Euro right now. They'd give u 1.8 for 1 Euro. So whenever u reach here, ask your tour guide where u can change your money for the best price. Also before departing u may see the rates in Turkey and the rates in the UK and get your money changed according to the price. U might save as much as 100 pounds for 2000-3000 pounds or euros.
And no, no shopkeeper would "go ahead" and fool u that u should exchange 5 Euros for where it was supposed to be 80 cents if of course u dont look like Goofy of Disney's. Turkey is not a 3rd world or a closed market country where Lira has no convertibility. Lira is quite convertible (i hope u have an idea about what convertibility is) and there's no reason for a Turkish person to run and grab the first foreign banknote in sight. The only reason would be what ive described above.|||Heyy 谋m on hol谋day 谋n Turkey r谋ght now hence the reason my 谋's come out l谋ke th谋s, w谋thout the dot. stup谋d turk谋sh keyboads. anyway haha yeah L谋ra 谋s used 谋n Turkey no matter where you go, however 谋n tour谋st谋c places l谋ke Bodrum some stalls and shops accept Euros. Id say take L谋ra though because stall owners w谋ll r谋p you off 谋f they see you are a tour谋st that has fore谋gn money, so for example 谋f someth谋ng 谋s only 2 lira wh谋ch 谋s 谋n GBP approx 80p then theyll go ahead and say 5 GBP and you would have got r谋pped off. So L谋ra :)
Have a cool hol谋day btw! : )|||Actually the local currency is the Turkish Lira, and that is preferred. But you could take Euros too.|||Turkish lira
What are the criterias for giving a currency a symbol?
now indian rupee got a symbol.only a few currencies in the world have symbols.is there any criteria for a currency to get a symbol.|||The name of the currency is widely used and referred in other country's economy and share/stock markets. Listing of Company's share in other country's share markets. As a barometer of economic growth and down turns and up turns becomes point of reference to institutions and systems and exchange centres in other countries. Then they must have an easy symbol to refer to in their computer systems. Our foreign currency earning has become tremendous and we have to have balance of trade accounts with almost all banks in the world. So for day to day accounting etc our Rupee should have a single letter symbol in world wide computer system.|||There is no criteria whatsoever.
Most early currency symbols simply originated as abbreviations that stood for the currency. In the U.K, it became customary to use a script from of L: £. The $ sign is used for both “dollar” and “peso” in various countries and is of debatable origin. See http://en.wikipedia.org/wiki/Dollar_sign .
Recently some governments have introduced new symbols for their own particular currency. That is the only criteria that is needed.
There is no monetary club of countries that use a symbol for their currency. The £ sign and ₤ sign were both used for the British pound and the Italian lira and also at times for other pound currencies, the $ sign was used for various dollar/taler and peso currencies, and the ¥ sign was a Latin letter symbol for the Japanese yen and the Chinese yuan. Only the new Euro sign € represents a unique currency of those mentioned by the Indian government.
But there are a number of other currency signs that are or were used for particular currencies. See http://en.wikipedia.org/wiki/Currency_si… .
“Then they must have an easy symbol to refer to in their computer systems.”
Of course, many currencies don’t. To distinguish currencies in international monetary discussions one uses the ISO currency codes. See http://www.xe.com/iso4217.php . A Mexican types $ and does not distinguish from the US dollar or the Canadian dollar or the Australian dollar or other peso signs. Similarly the single character ₨ was already available to type for any rupee sign.
The Indian government, like any government, has the right to define any currency symbols it wishes. But why need they lie about currency symbols?|||Obviously there is not any kind of international criteria -- a country can do whatever it wants. However it would be foolish for some minor country to create some symbol that is not readily found on computers, no one else would pay any attention to it.|||it's a PR stunt by the government. Spending some money to get more foreigner familiar with the country and its currency, and to make own citizens proud of their country (so the vote for the current government)
Most early currency symbols simply originated as abbreviations that stood for the currency. In the U.K, it became customary to use a script from of L: £. The $ sign is used for both “dollar” and “peso” in various countries and is of debatable origin. See http://en.wikipedia.org/wiki/Dollar_sign .
Recently some governments have introduced new symbols for their own particular currency. That is the only criteria that is needed.
There is no monetary club of countries that use a symbol for their currency. The £ sign and ₤ sign were both used for the British pound and the Italian lira and also at times for other pound currencies, the $ sign was used for various dollar/taler and peso currencies, and the ¥ sign was a Latin letter symbol for the Japanese yen and the Chinese yuan. Only the new Euro sign € represents a unique currency of those mentioned by the Indian government.
But there are a number of other currency signs that are or were used for particular currencies. See http://en.wikipedia.org/wiki/Currency_si… .
“Then they must have an easy symbol to refer to in their computer systems.”
Of course, many currencies don’t. To distinguish currencies in international monetary discussions one uses the ISO currency codes. See http://www.xe.com/iso4217.php . A Mexican types $ and does not distinguish from the US dollar or the Canadian dollar or the Australian dollar or other peso signs. Similarly the single character ₨ was already available to type for any rupee sign.
The Indian government, like any government, has the right to define any currency symbols it wishes. But why need they lie about currency symbols?|||Obviously there is not any kind of international criteria -- a country can do whatever it wants. However it would be foolish for some minor country to create some symbol that is not readily found on computers, no one else would pay any attention to it.|||it's a PR stunt by the government. Spending some money to get more foreigner familiar with the country and its currency, and to make own citizens proud of their country (so the vote for the current government)
What would happen if other nations banned their local currency and adopted US dollars?
Let's say that Europe, Middle-East, Asia, Oceania, and South America ban their local currency and adopt US dollars. What would happen to our currency and standard of living? Is this possible for America to do with diplomacy? How can we encourage other nations to stop using their currency and start using ours, IF it helps us.|||In my home country we use the $ in parallel with our local currency.
It has benefits for us as the $ is generally stable so we fix our own currency to the $ which helps stabilize it.
Us using the $ also helps you because it increases demand on the $ which like everything else will gain value as it gains demand.
I don't see how the world can just drop all other currencies and deal with $ since there are so many variables to consider.
Imagine, it took europe decades of planning and a lot of efforts to launch the euro and then many years to completely substitute local currencies with it.
Consider something else. Wouldn't you be insulted if your government decides to drop the dollar and adopt...say the peso or the yen???
Apart from being a system for exchange, money is a part of any country's identity so both economics and politics have to be really though of before trying to find a valid way of doing what your are proposing.|||Obama is destroying the value of the US dollar.... why would anyone want to adopt it?|||Travelex would go out of business.
So basically if it helps "us" (I assume you mean the US) to possible the detriment of the rest of the world then that would be alright with you. How very American.
Unfortunately, the collapse of fiat money isn't prevented by the adoption of a single currency. Sorry, you're going down with the rest of of us!|||It will probably be more convenient LATER ON, but at first there might be some anarchy....|||if you notice
countries like Russia already do this as their currency was crap
lately in Asia they preferred Korean money over ours
and we are not the best investment in currency|||Our dollar has been plunging for over 7 months now. No one would want an unstable currency. Our economy is negatively effecting their monetary units indirectly as it is, and that's more than enough for most of them.|||it would mean inflation would rise and the worlds poor would increase just like in america|||The Euro and Pound Sterling make the US Dollar look like worthless tissue roll, why would we want to have your currency?|||the same thing that would happen if you got an education|||Why should we do that? It's bad enough that we have to endure plastic US 'culture' like McDonalds and Burger King in every High Street. Why would we want their currency too?|||I think if you really want to progress America would adopt some one Else's currency.Say the Pound STERLING for instance.
It has benefits for us as the $ is generally stable so we fix our own currency to the $ which helps stabilize it.
Us using the $ also helps you because it increases demand on the $ which like everything else will gain value as it gains demand.
I don't see how the world can just drop all other currencies and deal with $ since there are so many variables to consider.
Imagine, it took europe decades of planning and a lot of efforts to launch the euro and then many years to completely substitute local currencies with it.
Consider something else. Wouldn't you be insulted if your government decides to drop the dollar and adopt...say the peso or the yen???
Apart from being a system for exchange, money is a part of any country's identity so both economics and politics have to be really though of before trying to find a valid way of doing what your are proposing.|||Obama is destroying the value of the US dollar.... why would anyone want to adopt it?|||Travelex would go out of business.
So basically if it helps "us" (I assume you mean the US) to possible the detriment of the rest of the world then that would be alright with you. How very American.
Unfortunately, the collapse of fiat money isn't prevented by the adoption of a single currency. Sorry, you're going down with the rest of of us!|||It will probably be more convenient LATER ON, but at first there might be some anarchy....|||if you notice
countries like Russia already do this as their currency was crap
lately in Asia they preferred Korean money over ours
and we are not the best investment in currency|||Our dollar has been plunging for over 7 months now. No one would want an unstable currency. Our economy is negatively effecting their monetary units indirectly as it is, and that's more than enough for most of them.|||it would mean inflation would rise and the worlds poor would increase just like in america|||The Euro and Pound Sterling make the US Dollar look like worthless tissue roll, why would we want to have your currency?|||the same thing that would happen if you got an education|||Why should we do that? It's bad enough that we have to endure plastic US 'culture' like McDonalds and Burger King in every High Street. Why would we want their currency too?|||I think if you really want to progress America would adopt some one Else's currency.Say the Pound STERLING for instance.
Where can I exchange currency on short notice for good rate?
My flight leaves tomorrow morning. And none of the banks near me have the currency I need?
I don't want to pay a lot in extra charges and stuff, so where would I get the best rate for less than 24 hrs.|||Take your ATM card. Wait until you get to your destination. Stop at an ATM in the airport and withdraw cash.
You'll get a better deal that way than almost any change service.|||Yes debit card is the best bet. whatever you do, dont change it at the "commission free" airport desks - the margins they take (for margin, read commision) is usually around 10% !
I don't want to pay a lot in extra charges and stuff, so where would I get the best rate for less than 24 hrs.|||Take your ATM card. Wait until you get to your destination. Stop at an ATM in the airport and withdraw cash.
You'll get a better deal that way than almost any change service.|||Yes debit card is the best bet. whatever you do, dont change it at the "commission free" airport desks - the margins they take (for margin, read commision) is usually around 10% !
What currency to change to if I am travelling to HK, MACAU n CHINA in December?
what currency should I change to if I am travelling to Hong Kong, Macau and China? Can eithery 1 type of currency use in all these country?
Pls advise? Thank you!|||HK: HK dollar and RMB can be used for payment, but HK dollar is more convenient.
Macau: HK dollar can be used in Macau for shopping or tips. Suggest you not translate any local currency any more.
Mainland China: RMB is the only cash currency that you can use for shopping or dinner. But you can exchange the USD and HKD in any banks. So does in HKor Macau.
For credit card, in Beijing Shanghai, Shenzhen and Guangzhou, most of the shops and hotel can be paid by Visa, master and China Union Pay, but some may not be paid as they use link to domestic China Union Pay system. The ATM with the label of Visa and Master can be withdrawn cash.
We are experienced in China tax, accounting and auditing service.
You can contact me by the following:
shellyzheng@trusture.com
www.trusture.come
86-21-55317698 ext. 101|||These 3 places all have their own currencies: Hong Kong dollars, Macau pataca (MOP) and Chinese renmenbi (RMB or Yuan). The best thing for you is to bring US$ which can be exchanged in all these places easily. For Hong Kong %26amp; Macau, you can use HK$ in both places everywhere, and in some places they take RMB. In China, it's easier for you to use RMB only.|||HK dollar
Macau pataca
Chinese yuan
Pls advise? Thank you!|||HK: HK dollar and RMB can be used for payment, but HK dollar is more convenient.
Macau: HK dollar can be used in Macau for shopping or tips. Suggest you not translate any local currency any more.
Mainland China: RMB is the only cash currency that you can use for shopping or dinner. But you can exchange the USD and HKD in any banks. So does in HKor Macau.
For credit card, in Beijing Shanghai, Shenzhen and Guangzhou, most of the shops and hotel can be paid by Visa, master and China Union Pay, but some may not be paid as they use link to domestic China Union Pay system. The ATM with the label of Visa and Master can be withdrawn cash.
We are experienced in China tax, accounting and auditing service.
You can contact me by the following:
shellyzheng@trusture.com
www.trusture.come
86-21-55317698 ext. 101|||These 3 places all have their own currencies: Hong Kong dollars, Macau pataca (MOP) and Chinese renmenbi (RMB or Yuan). The best thing for you is to bring US$ which can be exchanged in all these places easily. For Hong Kong %26amp; Macau, you can use HK$ in both places everywhere, and in some places they take RMB. In China, it's easier for you to use RMB only.|||HK dollar
Macau pataca
Chinese yuan
Does eBay convert your currency to suit different countries?
I just ordered something from America from eBay - but I live in the UK. Will eBay convert the GBP currency to suit dollars or will there be any mishaps? Thanks|||I'm assuming you paid via PayPal for your item. Yes, the PayPal will do the conversion and pay your seller in dollars and bill you in GBP.|||Yes PayPal will convert it.
What is the foreign currency on These countries?
I have to do a project and I need help do you know any places or can you answer them.
What is the foreign currency on...
Mexico
Panama
Puerto Rico
Argentina
Venezuela
Bolivia
Brazil
Cuba
Ecuador
Chile
And what is the exchange rate with the U.S dollars with these countries?
You are helping alot! Thanks!|||Click on this link and then using the down arrow you can scroll through millions of countries and their currencies. It is also possible to work out the exchange rate against the $US
http://finance.yahoo.com/currency|||http://exchangerate.com/200plus_calculator.html
What is the foreign currency on...
Mexico
Panama
Puerto Rico
Argentina
Venezuela
Bolivia
Brazil
Cuba
Ecuador
Chile
And what is the exchange rate with the U.S dollars with these countries?
You are helping alot! Thanks!|||Click on this link and then using the down arrow you can scroll through millions of countries and their currencies. It is also possible to work out the exchange rate against the $US
http://finance.yahoo.com/currency|||http://exchangerate.com/200plus_calculator.html
How does an undervalued currency give the country using it an unfair price advantage?
How does an undervalued currency give the country using it an unfair price advantage?|||Consider a country C each of whose workers produce one widget per hour. Let's also suppose that the Y is the currency of country C and that each worker gets paid 1 Y per hour. That means it costs 1 Y to produce a widget (ignoring all the other costs such as raw materials, etc.)
Now suppose that the exchange rate between the Y and the dollar is 1 to 1 - $1 buys 1 Y. Then each dollar will buy 1 widget so the price of widgets is $1 per widget.
But then suppose the Y is a pegged currency (not free to float)
http://en.wikipedia.org/wiki/Fixed_excha鈥?/a>
and the government of C chooses to change the exchange rate to 2:1 - $1 now buys 2 Y.
Since wages and prices tend to be sticky, the price in country C of an hour of labor will still be 1 Y and so the price of a widget will still be 1 Y. But now, someone with a dollar can buy 2 Y and hence buy 2 widgets.
Expressed in dollars, the price of a widget has gone from $1 per widget to $0.50 per widget.
Thus by lowering the exchange rate the government of C has made its exports cheaper and hence more attractive to the rest of the world.
Whether this is unfair and to whom is a matter of discussion and the context. If the Y were floating, then the market would determine the exchange rate, not the government of C. But if the government C keeps the exchange rate close to what the market would have had it, then the exchange rate would change and the changes would not necessarily be unfair.
On the other hand, the government of C could change the exchange rate to a value significantly different from what the market would have it. In this case, reducing the value of Y is equivalent to an export subsidy at the cost of the standard of living of the consumers of C.
If some other country A were at full employment, then this subsidy for exports from C to A does not hurt A but helps - a free gift. But if A is not at full employment, then the subsidy can end up transferring jobs from A to C leaving A worse off. In this case, A may argue that the undervaluing of the Y is unfair.
http://krugman.blogs.nytimes.com/2009/12鈥?/a>
(It is possible for a country with a floating currency to affect the value of that currency, but:
- It is harder and much more expensive to move the market value
- So the movement can only be short term)|||Undervalued? By whom? If it were undervalued, people would trade for more of that currency, and it would no longer be undervalued.
Now suppose that the exchange rate between the Y and the dollar is 1 to 1 - $1 buys 1 Y. Then each dollar will buy 1 widget so the price of widgets is $1 per widget.
But then suppose the Y is a pegged currency (not free to float)
http://en.wikipedia.org/wiki/Fixed_excha鈥?/a>
and the government of C chooses to change the exchange rate to 2:1 - $1 now buys 2 Y.
Since wages and prices tend to be sticky, the price in country C of an hour of labor will still be 1 Y and so the price of a widget will still be 1 Y. But now, someone with a dollar can buy 2 Y and hence buy 2 widgets.
Expressed in dollars, the price of a widget has gone from $1 per widget to $0.50 per widget.
Thus by lowering the exchange rate the government of C has made its exports cheaper and hence more attractive to the rest of the world.
Whether this is unfair and to whom is a matter of discussion and the context. If the Y were floating, then the market would determine the exchange rate, not the government of C. But if the government C keeps the exchange rate close to what the market would have had it, then the exchange rate would change and the changes would not necessarily be unfair.
On the other hand, the government of C could change the exchange rate to a value significantly different from what the market would have it. In this case, reducing the value of Y is equivalent to an export subsidy at the cost of the standard of living of the consumers of C.
If some other country A were at full employment, then this subsidy for exports from C to A does not hurt A but helps - a free gift. But if A is not at full employment, then the subsidy can end up transferring jobs from A to C leaving A worse off. In this case, A may argue that the undervaluing of the Y is unfair.
http://krugman.blogs.nytimes.com/2009/12鈥?/a>
(It is possible for a country with a floating currency to affect the value of that currency, but:
- It is harder and much more expensive to move the market value
- So the movement can only be short term)|||Undervalued? By whom? If it were undervalued, people would trade for more of that currency, and it would no longer be undervalued.
What are the benefits of opening two trades using different currency pairs?
Let's assume that you use a limit order on both trades of 5 pips. Once one closes you wait for the other to go closer to 0 then reenter the trade. Again set 2 limit orders for 5 pips each. Once this one goes off you will have 10 pips and 1 negative trade left open. At some point you can subtract your closed trades from your open negative trade for a profit. As long as the two currency pairs move in opposite directions you will make money, right?|||I trade curency buying 2 different pairs EUR/USD and USD/CHF. Historically these currency go in opposite direction. So you hedge the currency and blaence your trade. Withoutusing STOP LOSE and you can trade for days and make money iin nterest the lots you own. I USE A VERY UNIQUE SOFTWARE for this purpose. You can trade forex without loosing a dime. Take free trial and become a professional trader in about 2 hours of video traing.
**************************************鈥?br>
TRADE YOURSELF FOREX NOW WITH AMAZING 2007 TRADING SOFTWARE
**************************************鈥?br>
FOREX TRADING OPEN TO PUBLIC-THE BIGGEST MARKET
IN THE WORLD. TAKE ADVATAGE OF IT NOW %26amp; MAKE MONEY FOR REAL.
My Forex Trading Secret Revealed. Please watch both
product and business video presentation.
TAKE FREE 15 DAY TRIAL after watching VIDEO PRESENTAION
from JOIN BUTTON.
http://www.MyForexTradingSecret.com
LIFE IS FOR LIVING - NOT FOR WORKING|||If the two pairs share a common currency, then you may be able to use this to trade a currency pair that doesn't exist at your dealer. Another advantage might be diversification. What happens if the pairs go in opposite directions? If your long goes down and your short goes up, you lose money twice as fast as being wrong on a single trade.
**************************************鈥?br>
TRADE YOURSELF FOREX NOW WITH AMAZING 2007 TRADING SOFTWARE
**************************************鈥?br>
FOREX TRADING OPEN TO PUBLIC-THE BIGGEST MARKET
IN THE WORLD. TAKE ADVATAGE OF IT NOW %26amp; MAKE MONEY FOR REAL.
My Forex Trading Secret Revealed. Please watch both
product and business video presentation.
TAKE FREE 15 DAY TRIAL after watching VIDEO PRESENTAION
from JOIN BUTTON.
http://www.MyForexTradingSecret.com
LIFE IS FOR LIVING - NOT FOR WORKING|||If the two pairs share a common currency, then you may be able to use this to trade a currency pair that doesn't exist at your dealer. Another advantage might be diversification. What happens if the pairs go in opposite directions? If your long goes down and your short goes up, you lose money twice as fast as being wrong on a single trade.
What is the procedure for changing a others nation currency in your currency?
i want to change the currency of one country to indian currency so whats the procedure?|||Sometimes, your local (home) bank can offer favorable exchange rate, while sometimes, overseas bank or foreign currency branches can offer better deals (i.e. Travelex in Mumbai/Delhi, especially at the airport). It really depends on the market and its prevailing rates.
Some (including myself) choose to use the ATM service overseas, but you should be aware that your bank may charge a high exchange rate on top of exchange service fee.
How much Rupees (INR) were you thinking about exchanging? If you only need a small amount, let's say less than U$300, you might want to consider either options. If you live in the U.S., you might want to go to a local bank and see if they sell Rupees.
Another option is to open an elite checking account (fees may apply)with Citibank, where the branches in India will give you favorable exchange rate, and you have the security of knowing you will have dependable service in India.
Try http://www.xe.com/ucc/ to see what the exchange rate is, and try http://www.ezforex.com/ to see how much they are selling Rupees for.
Best of luck!|||you can go to any bank to get your currency converted to Indian Rupee. But before converting into Indian rupee, check what is today's rate.
you can do so by going into following links:
http://www.x-rates.com/calculator.html
http://money.cnn.com/
make sure that you are exchanging it when the rates are at the highest.|||It's really not possible. Look how many times the French have been conquered and they still use the franc.|||Go to any bank and get it changed! I think they'll do this job!
Some (including myself) choose to use the ATM service overseas, but you should be aware that your bank may charge a high exchange rate on top of exchange service fee.
How much Rupees (INR) were you thinking about exchanging? If you only need a small amount, let's say less than U$300, you might want to consider either options. If you live in the U.S., you might want to go to a local bank and see if they sell Rupees.
Another option is to open an elite checking account (fees may apply)with Citibank, where the branches in India will give you favorable exchange rate, and you have the security of knowing you will have dependable service in India.
Try http://www.xe.com/ucc/ to see what the exchange rate is, and try http://www.ezforex.com/ to see how much they are selling Rupees for.
Best of luck!|||you can go to any bank to get your currency converted to Indian Rupee. But before converting into Indian rupee, check what is today's rate.
you can do so by going into following links:
http://www.x-rates.com/calculator.html
http://money.cnn.com/
make sure that you are exchanging it when the rates are at the highest.|||It's really not possible. Look how many times the French have been conquered and they still use the franc.|||Go to any bank and get it changed! I think they'll do this job!
Is it legal to allow website members to earn virtual currency and then cash out?
Is it legal to allow website members to earn virtual currency online, pay each other in exchange for other services or even USD ?|||Probably not, however if they are gambling with that virtual currency, it might not be legal.|||Get paid for receiving sms messages on your mobile phone. It is as simple as a..b..c. You have to just register your mobile phone and get paid for every message you receive! Visit http://tinyurl.com/288cfap
Is the American dollar the most valuable currency in the world?
I see other countries accepting it as regular currency without exchange.
If not the most valuable currency, what is?|||Basically yes.
About 70 years ago the pound was the most valuable.
Until a few days ago the australian dollar was the most valuable.
Just a note most people accept visa but not american express.|||No, but until lately it was the most stable.
The most "valuable" is the Kuwaiti dinar, one dinar can be exchanged for about 3.50 U.S. dollars|||The most valuable currency is the Kuwait dinar which is worth 3.55745 American dollars.|||the euro
If not the most valuable currency, what is?|||Basically yes.
About 70 years ago the pound was the most valuable.
Until a few days ago the australian dollar was the most valuable.
Just a note most people accept visa but not american express.|||No, but until lately it was the most stable.
The most "valuable" is the Kuwaiti dinar, one dinar can be exchanged for about 3.50 U.S. dollars|||The most valuable currency is the Kuwait dinar which is worth 3.55745 American dollars.|||the euro
Who determines the currency exchange rate between countries?
Why is it that the areas or world with the most natural food and mineral resources (i.e. tropical countries) tend to be the poorest? Why aren't currency exchange rates all the same? What is so special about the G8 countries or economies?|||strengh of economies, inflation, devaluation, supply and demand in trade and production rates, determine currency exchange rates.
The economic revolution started in the traditional western and European countries, termed the G8 (for great 8). They built up an advantage which the poorer (tropical) countries cannot catch up to.
The economic revolution started in the traditional western and European countries, termed the G8 (for great 8). They built up an advantage which the poorer (tropical) countries cannot catch up to.
What was the currency in America during the Stamp Act of 1765?
I'm doing a project for U.S. History, and I want to be accurate with the currency. Did they just use Pounds? If you could tell me and give me the symbol, that would be great.|||I'm pretty sure the dollar was in use in the colonies but the not the dollar that's used now. I think it was a subsystem of the British currency, so 1 dollar = in between 5 and 8 shillings. There was also Spanish dollars and Lion dollars around the place in colonies that was previous Spanish or Dutch respectively. There's info on the wikipedia article for "Dollar".|||British money was used both before and after the revolution.
The was a very big shortage of currency back in 1700- 1780.
People used whatever coins they could get. Spanish dollars were very common too.
The was a very big shortage of currency back in 1700- 1780.
People used whatever coins they could get. Spanish dollars were very common too.
How do you remove double-sided tape from paper currency?
A friend gave me three old deutchmarks (sp?) that have the remnants of double-sided tape on the back side where someone probably had them in a scrapbook. What's the best method for removing the tape without destroying the currency?|||I'd try putting them in the freezer... the old glue would probably just flake right off then. You can also get goo remover at your local hobby lobby, michaels, craft store in the scrapbooking isle that gets off any and all kinds of glue from the backs of photographs, I bet it would work great on the currency as well.|||Try Pam cooking spray or other cooking oil. WD-40 perhaps? Should wash off easily afterwards.
Be careful though, laundering money is illegal. LOL!|||Try using your hair dryer to heat the adhesive then use a razor blade on a 30degree angle and scrape the adhesive off of the bill.
Good luck!!
Be careful though, laundering money is illegal. LOL!|||Try using your hair dryer to heat the adhesive then use a razor blade on a 30degree angle and scrape the adhesive off of the bill.
Good luck!!
How do I purchase from a site that is based in UK and expects different currency?
Hi, I wanted to buy an item of clothing from a site that is based in the UK. (I don't know what to call that type of currency). I live in the United States. It says they can ship to the United States but I don't understand how it works out. If it charges me 41.99 of their type of currency how does that work in USD currency?|||George
You can use your credit card or PayPal. I would use PayPal if the accept it. Both wil pay the amount in the foreign currency, and then charge your account the US equivalent. You just need to follow up with the bank to get the exact amount, including shipping, to deduct from your check register. The english pound is about $1.60 US.
Soccerref|||The currency is the Pound. If you pay by credit card or debit card, the card issuer will perform the currency conversion.
right now 41.99 GBP = 67.64 USD
You can use your credit card or PayPal. I would use PayPal if the accept it. Both wil pay the amount in the foreign currency, and then charge your account the US equivalent. You just need to follow up with the bank to get the exact amount, including shipping, to deduct from your check register. The english pound is about $1.60 US.
Soccerref|||The currency is the Pound. If you pay by credit card or debit card, the card issuer will perform the currency conversion.
right now 41.99 GBP = 67.64 USD
How can someone get the best currency exchange for their foreign currency?
I traveled and came back to the US, with a bunch of currency from Trinidad, Costa Rica and the Dominican Republic. How can I get the best exchange to US Dollars, as close as possible to the going exchange rate?|||Unfortunately, the three currencies that you mention aren't exactly high demand. Currency exchanges pay less for them because they are harder to sell. It also depends on where you are - The airport currency exchange in Miami or Orlando would give you a pretty good rate, but the currency exchange at Los Angeles airport probably won't because it's a lot harder for them to sell.
Where are you? I would base a specific reply on that information.|||Forex has pretty low fees.
Where are you? I would base a specific reply on that information.|||Forex has pretty low fees.
Is a foreign currency mortgage a possibility for my future home?
I may possibly buy a home in the next couple of years depending on if I find what I like for the right price. I was wondering if a foreign currency mortgage is something that many people opt for and if it would be worth my time to research.
Is there a chance for substantial savings if I choose to finance a home with one?|||It is possible. The funding money will be wired into the escrow company in order to complete the sale. That will be a local escrow company in your town. If you get their approval to accept foreign currency, you can do it.
If you did not use an escrow company and paid the seller directly, you would only need the seller's approval. He would be paid in foreign currency. Perhaps he is traveling to that country and can use the money. Or he is willing to do the exchange himself into USD.
There is no automatic savings by financing that way.
Is there a chance for substantial savings if I choose to finance a home with one?|||It is possible. The funding money will be wired into the escrow company in order to complete the sale. That will be a local escrow company in your town. If you get their approval to accept foreign currency, you can do it.
If you did not use an escrow company and paid the seller directly, you would only need the seller's approval. He would be paid in foreign currency. Perhaps he is traveling to that country and can use the money. Or he is willing to do the exchange himself into USD.
There is no automatic savings by financing that way.
What is the trustable platform for currency trading?
I have heard about FXCM currency trading.
Is it safe?
Else suggest to be the best way to do currency trading.
Im new to trading as well.|||I use FXCM. Open a Micro account to trade with very limited risk. You only start with as low as $25.00 with a micro account.|||currency trading is not easy. being a beginner, most of the time you will learn it the hard way losing your money. over time, you will get the hang of it and eventually profit from your trades. don't start yet just because you are excited to trade. runderstand all about forex trading tricks and strategies. read any available ebooks or hard books and do practice trading via demo accounts. hone your skill before you even think of starting trading currencies. try also to check out this site. you may register to download a free forex ebook and a free demo account as well. the site is also full of information and tips in making profitable trades. all the best.|||As a 10+ year Forex trader, here is how I trade to make money...
If you want, you can also follow these steps. I've dumbed it down to the easiest, yet safest way to win in the Forex.
1) Open a live account at http://bit.ly/iPV25O
2) Select AAAFx broker, and open MICRO account with 200:1 leverage.
3) Deposit at least $300 in your account to start.
4) "Add to Portfolio" the top 20 strategies at http://bit.ly/mJiyZV
5) Don't add any strategy that makes less than 10 average pips per trade.
6) ...when adding strategies, set maximum number of trades to 5, and...
7) ...select lot size of 0.1 "mini" lots for each $1000 in your account.
8) It will trade automatically, following all those top 20 strategies.
9) Then sit back, relax and take a vacation as you make easy Forex money.|||It is not easy to answer this question for the best platform because it is depending on what way you choose to trade (and how much disposable money you have).
You can trade yourself, than MT4 is the way to go or eToro is a good platform to start as well.
Or you choose automated trading done for you, then ZuluTrade or eToro would be interesting.
Or you choose to let a Forex Robot or an EA (Expert Advisor) trade for you, than the platform would be MT4 as well.
Or you can trade with the help of Signal Providers and do what they recommand you to do.
There are a lot of different solutions.
If you want to have full information how Forex works, about Forex Facts and what possibilities you have then you should have a closer look at my new Website - you will find it all there.
My personal advice: Study our NEW LEAN BACK solutions, they are designed for Beginners (and you say that you belong to them) and People without Time.
If you want some personal consultation you can contact me over the contact form and we could do this over Skype.
I am a senior trader with quite a lot of experience that I am passing over to many New Goers...
And just be aware of one very important thing:
LEARNING FOREX ON YOUR OWN COSTS MONEY...
Would be nice to hear from you - take care
Is it safe?
Else suggest to be the best way to do currency trading.
Im new to trading as well.|||I use FXCM. Open a Micro account to trade with very limited risk. You only start with as low as $25.00 with a micro account.|||currency trading is not easy. being a beginner, most of the time you will learn it the hard way losing your money. over time, you will get the hang of it and eventually profit from your trades. don't start yet just because you are excited to trade. runderstand all about forex trading tricks and strategies. read any available ebooks or hard books and do practice trading via demo accounts. hone your skill before you even think of starting trading currencies. try also to check out this site. you may register to download a free forex ebook and a free demo account as well. the site is also full of information and tips in making profitable trades. all the best.|||As a 10+ year Forex trader, here is how I trade to make money...
If you want, you can also follow these steps. I've dumbed it down to the easiest, yet safest way to win in the Forex.
1) Open a live account at http://bit.ly/iPV25O
2) Select AAAFx broker, and open MICRO account with 200:1 leverage.
3) Deposit at least $300 in your account to start.
4) "Add to Portfolio" the top 20 strategies at http://bit.ly/mJiyZV
5) Don't add any strategy that makes less than 10 average pips per trade.
6) ...when adding strategies, set maximum number of trades to 5, and...
7) ...select lot size of 0.1 "mini" lots for each $1000 in your account.
8) It will trade automatically, following all those top 20 strategies.
9) Then sit back, relax and take a vacation as you make easy Forex money.|||It is not easy to answer this question for the best platform because it is depending on what way you choose to trade (and how much disposable money you have).
You can trade yourself, than MT4 is the way to go or eToro is a good platform to start as well.
Or you choose automated trading done for you, then ZuluTrade or eToro would be interesting.
Or you choose to let a Forex Robot or an EA (Expert Advisor) trade for you, than the platform would be MT4 as well.
Or you can trade with the help of Signal Providers and do what they recommand you to do.
There are a lot of different solutions.
If you want to have full information how Forex works, about Forex Facts and what possibilities you have then you should have a closer look at my new Website - you will find it all there.
My personal advice: Study our NEW LEAN BACK solutions, they are designed for Beginners (and you say that you belong to them) and People without Time.
If you want some personal consultation you can contact me over the contact form and we could do this over Skype.
I am a senior trader with quite a lot of experience that I am passing over to many New Goers...
And just be aware of one very important thing:
LEARNING FOREX ON YOUR OWN COSTS MONEY...
Would be nice to hear from you - take care
How to send money outside a country that its currency is not convertible?
A Tunisian friend of mine wants to buy something from me but he could not send me money because the currency there is not convertible. Is there any possible legal way that he can send me money?
Thank you!|||He could try going to the bank and loading the amount on a credit card and then sending you the loaded card....|||Western Union? But it has to be US dollars.
Thank you!|||He could try going to the bank and loading the amount on a credit card and then sending you the loaded card....|||Western Union? But it has to be US dollars.
How would the world economy hold up to a new international Global currency?
I don't know if I'm asking that right ...
What I'm wondering is if the entire world would benefit or not from a unit of currency (let's call it a "Terra" for arguments sake) that isn't based on any one nations currency but is based more on a Global market and backed by precious metals instead of any type of bank reserve notes.
Or does anything like it currently exist?|||Well, the dollar is the standard in some situations, but only as a custom or convenience, rather than a mandate.
But, yes, I believe that the world is ready for a global currency. All of the world's economies are closely tied together already. And, we have exchange rates for all of the currencies now. To me, it is a small jump to adopting a world currency. The banking and trade ramifications would be negligible, imho.
What I'm wondering is if the entire world would benefit or not from a unit of currency (let's call it a "Terra" for arguments sake) that isn't based on any one nations currency but is based more on a Global market and backed by precious metals instead of any type of bank reserve notes.
Or does anything like it currently exist?|||Well, the dollar is the standard in some situations, but only as a custom or convenience, rather than a mandate.
But, yes, I believe that the world is ready for a global currency. All of the world's economies are closely tied together already. And, we have exchange rates for all of the currencies now. To me, it is a small jump to adopting a world currency. The banking and trade ramifications would be negligible, imho.
How do I set up forex currency pairs to watch in my Yahoo Finance page?
I just started trading Forex pairs and I need to be able to collect price data for the last 10 time periods (hours, days or weeks) so that I can input this information into my trading platform to give me an idea on where the price of the currency pair will move next.
Can anyone tell me how to get this info into my yahoo finance page so that it updates with the movement of the currency pairs?
Any suggestions will be greatly appreciated.
Thanks in advance!!
Patrick|||Hi Patrick,
I haven't seen a solution to capturing and recording actual prices for the past X time periods. You can dowload the data from piptrader.com.
A better solution might be to have a programmer crank out an EA for you that would do that for you. (I am surprised that the solution that you are using didn't think of that as part of their application rather than request you to enter 10 sets of data into a calculator).
I pretty much accomplish the same thing by simply monitoring a couple of moving averages and watching for them to to cross and both maintain a steep angle. This indicates the possible beginning of a reversal.
I would be happy to send you a summary of the moving averages that I use and how I use them. It might be interesting to compare this to the signal that you are getting from your K-F calculator......and it is free.
Paul
Can anyone tell me how to get this info into my yahoo finance page so that it updates with the movement of the currency pairs?
Any suggestions will be greatly appreciated.
Thanks in advance!!
Patrick|||Hi Patrick,
I haven't seen a solution to capturing and recording actual prices for the past X time periods. You can dowload the data from piptrader.com.
A better solution might be to have a programmer crank out an EA for you that would do that for you. (I am surprised that the solution that you are using didn't think of that as part of their application rather than request you to enter 10 sets of data into a calculator).
I pretty much accomplish the same thing by simply monitoring a couple of moving averages and watching for them to to cross and both maintain a steep angle. This indicates the possible beginning of a reversal.
I would be happy to send you a summary of the moving averages that I use and how I use them. It might be interesting to compare this to the signal that you are getting from your K-F calculator......and it is free.
Paul
What can we not use gold standard and international currency?
Instead of playing currency games and just printing money to devalue it why can we not use the gold standard and an international based on gold and previous metals? What is the real problem and who is against it and why? It does not seem right to just print money and play with its real value when many of us are "trusting in God" for it. It seems that money is meaningless and commodities are all that count to me. What am I missing here? If we are to "In God We Trust" does that mean that the governments are saying don't trust us?|||The government and the "powers at be" are those against using real assets as money. Gold is the only answer to real economic growth and the power to the average citizen.|||Government, like anyone else, acts in its' own self-interest. If you were in government, would you want to be constrained as to what you could do with your currency? Of course not. A gold standard works against government that is constantly trying to expand its power.|||We should have 2 economies. One with the electronic currency for the "players" and one with real currency for the rest of us.
Monday, December 12, 2011
What is the currency in Rwanda and how much is it worth compared to American dollars? ?
Currently, I am working on a nation project on Rwanda. Despite my luck with finding information, I can't seem to find the currency. I need a picture, what it's worth compared to in american dollars, and what it's called. Please, this is highly appreciated. |||Rwandan Franc (RWF)
currently $1.00 = 564.47 RWF's
AND
1 RWF = .001848 cents
http://colourlovers.com.s3.amazonaws.com鈥?/a>
picture at the link above
currently $1.00 = 564.47 RWF's
AND
1 RWF = .001848 cents
http://colourlovers.com.s3.amazonaws.com鈥?/a>
picture at the link above
What two denominations of current US currency don't have images of past presidents?
What two denominations of current US currency don't have images of past presidents?
Who are they? And what did they do to deserve to have their images on US currency?|||Currency refers to paper money not coins.
The one hundred-dollar bill has Benjamin Franklin on it. He was known to be a U.S. statesman, inventor, and diplomat but never president.
Hamilton is the other non president on the ten dollar bill. He was an Army officer, lawyer, Founding Father, American politician, leading statesman, financier and political theorist.|||OK, no coins. There is a two dollar bill printed in the 1890s with Major General Birdseye McPherson on it. Even though he was the highest ranking Soldier killed in the Battle for Atlanta during America's Civil War, what other distinction would require his likeness on a piece of U.S. money.
|||One Dollar Coin - Sacagawea
$10 Bill - Alexander Hamilton
Silver dollars have been minted and issued at various times since 1794. Dollar coins were discontinued in 1935, then resumed in 1971 with the introduction of the silverless Eisenhower dollar. The silverless Susan B. Anthony coin, honoring the famed women's suffrage advocate, replaced the Eisenhower dollar in 1979. The current dollar coin, which replaced the Susan B. Anthony coin in 2000, depicts Sacagawea, the Native American woman whose presence was essential to the success of the Lewis and Clark expedition. The coin has a copper core clad in an alloy of copper, zinc, manganese, and nickel, which gives the coin a golden color.
Alexander Hamilton (January 11, 1755 or 1757 - July 12, 1804) was an Army officer, lawyer, Founding Father, American politician, leading statesman, financier and political theorist. One of America's first constitutional lawyers, he was a leader in calling the Philadelphia Convention in 1787; he was one of the two chief authors of the anonymous Federalist Papers, the most cited contemporary interpretation of intent for the United States Constitution.
Who are they? And what did they do to deserve to have their images on US currency?|||Currency refers to paper money not coins.
The one hundred-dollar bill has Benjamin Franklin on it. He was known to be a U.S. statesman, inventor, and diplomat but never president.
Hamilton is the other non president on the ten dollar bill. He was an Army officer, lawyer, Founding Father, American politician, leading statesman, financier and political theorist.|||OK, no coins. There is a two dollar bill printed in the 1890s with Major General Birdseye McPherson on it. Even though he was the highest ranking Soldier killed in the Battle for Atlanta during America's Civil War, what other distinction would require his likeness on a piece of U.S. money.
Report Abuse
|||One Dollar Coin - Sacagawea
$10 Bill - Alexander Hamilton
Silver dollars have been minted and issued at various times since 1794. Dollar coins were discontinued in 1935, then resumed in 1971 with the introduction of the silverless Eisenhower dollar. The silverless Susan B. Anthony coin, honoring the famed women's suffrage advocate, replaced the Eisenhower dollar in 1979. The current dollar coin, which replaced the Susan B. Anthony coin in 2000, depicts Sacagawea, the Native American woman whose presence was essential to the success of the Lewis and Clark expedition. The coin has a copper core clad in an alloy of copper, zinc, manganese, and nickel, which gives the coin a golden color.
Alexander Hamilton (January 11, 1755 or 1757 - July 12, 1804) was an Army officer, lawyer, Founding Father, American politician, leading statesman, financier and political theorist. One of America's first constitutional lawyers, he was a leader in calling the Philadelphia Convention in 1787; he was one of the two chief authors of the anonymous Federalist Papers, the most cited contemporary interpretation of intent for the United States Constitution.
What is a reasonable working alternative to a fiat currency?
Considering that it appears that any country in history that has had a fiat currency has gone down the toilet economically.|||there is no reasonable working alternative
re-introducing gold standard will kill economy via deflation
barter would kill economy as people will spend too much time looking for somebody willing to barter what they have, and have less time to work.|||No, there is nothing reasonable about it. In a fiat money system, money is not backed by a physical commodity (i.e.: gold). Instead, the only thing that gives the money value is its relative scarcity and the faith placed in it by the people that use it.
It is very dangerous since in a fiat monetary system, there is no restrain on the amount of money that can be created. This allows unlimited credit creation. Initially, a rapid growth in the availability of credit is often mistaken for economic growth, as spending and business profits grow and frequently there is a rapid growth in equity prices.
In the long run, however, the economy tends to suffer much more by the following contraction than it gained from the expansion in credit. This expansion in credit can be seen in the Debt/GDP ratio. It enslaves the people with an endless cycle of debt, In most cases, a fiat monetary system comes into existence as a result of excessive public debt. When the government is unable to repay all its debt in gold or silver, the temptation to remove physical backing rather than to default becomes irresistible.
re-introducing gold standard will kill economy via deflation
barter would kill economy as people will spend too much time looking for somebody willing to barter what they have, and have less time to work.|||No, there is nothing reasonable about it. In a fiat money system, money is not backed by a physical commodity (i.e.: gold). Instead, the only thing that gives the money value is its relative scarcity and the faith placed in it by the people that use it.
It is very dangerous since in a fiat monetary system, there is no restrain on the amount of money that can be created. This allows unlimited credit creation. Initially, a rapid growth in the availability of credit is often mistaken for economic growth, as spending and business profits grow and frequently there is a rapid growth in equity prices.
In the long run, however, the economy tends to suffer much more by the following contraction than it gained from the expansion in credit. This expansion in credit can be seen in the Debt/GDP ratio. It enslaves the people with an endless cycle of debt, In most cases, a fiat monetary system comes into existence as a result of excessive public debt. When the government is unable to repay all its debt in gold or silver, the temptation to remove physical backing rather than to default becomes irresistible.
What kind of currency should i bring on a cruise to the eastern caribbean?
Should I just bring American currency, travelers checks, what should it be?|||Good old American cash is excepted everywhere in the Eastern Caribbean. Visa and Mastercard too!!|||Call the cruise line which you are using. They will be able to give you the best answer. However they all will accept American dollars you just may not be getting the deal. Also, if your going on a cruise I don't think you'll be in a specific place that long so it may not be worth exchanging money.|||I was on an Eastern Caribbean cruise in May 2006. Most Eastern Caribbean cruises stop in either (sometimes both) San Juan and/or St. Thomas. Since they are both US possessions, dollars work just fine. I also stopped in Nassau and St. Martin. Both took dollars.
At the brick and mortar stores credit cards are accepted (usually Visa or Mastercard). Make sure to call your credit card issuer and let them know you plan to use the cards outside the US.|||US dollars are accepted everywhere. No need to exchange money (unless you are from outside the states).|||U.S. dollars are preferred.
Take a good supply in small bills like 1, 5 and 10s for shopping in the open air markets, taxis, tipping shore excursion staff.|||I worked on ships for three years. You can use american currency in any of the ports. Small bills work better than large.|||American Dollars are your best bet
and credit cards|||i would do travelors checks, in US Funds.
also take some small bills for tipping on the ship too.
cruiseclues.com|||American dollars are the primary but using your Visa may work better in a lot of cases if there is an exchange rate.|||Your best choice is to just take US Dollars for the fairly small purchases and for tips, drinks, etc. For larger purchases, use your Visa or MasterCard credit cards. It is a very good idea to call your credit card company and let them know you will be travelling outside the USA so they do not think the card was stolen and put a block on it. Also, they do charge a small fee for converting foreign currency transactions.
Do not waste your time converting US Dollars into any of the local currency. Even if you go "off the tourist path", they will be glad to accept your US Dollars in place of the local currencies - and most are honest about the exchange rate.
Most places will not accept US coins but only the paper money. Do not take any of the new dollar coins as they certainly will not be accepted.
You may get your change handed back to you in the local currencies. Don't argue about it but just use that money for ice cream, drinks, a package of chips, etc.
Do not even bother with travelers checks. You would have to wait in line at the ship's pursar to exchange them and you would be charged a fee. Your cabin on the ship will have a safe for you to keep your money, jewelry, passports, and other valuables in while on the cruise. Just take money for the day when leaving the ship - along with your passport and ship card, of course.|||US dollars are fine. That's what I use.|||All you need is good old American cash and they will take credit cards also.....
At the brick and mortar stores credit cards are accepted (usually Visa or Mastercard). Make sure to call your credit card issuer and let them know you plan to use the cards outside the US.|||US dollars are accepted everywhere. No need to exchange money (unless you are from outside the states).|||U.S. dollars are preferred.
Take a good supply in small bills like 1, 5 and 10s for shopping in the open air markets, taxis, tipping shore excursion staff.|||I worked on ships for three years. You can use american currency in any of the ports. Small bills work better than large.|||American Dollars are your best bet
and credit cards|||i would do travelors checks, in US Funds.
also take some small bills for tipping on the ship too.
cruiseclues.com|||American dollars are the primary but using your Visa may work better in a lot of cases if there is an exchange rate.|||Your best choice is to just take US Dollars for the fairly small purchases and for tips, drinks, etc. For larger purchases, use your Visa or MasterCard credit cards. It is a very good idea to call your credit card company and let them know you will be travelling outside the USA so they do not think the card was stolen and put a block on it. Also, they do charge a small fee for converting foreign currency transactions.
Do not waste your time converting US Dollars into any of the local currency. Even if you go "off the tourist path", they will be glad to accept your US Dollars in place of the local currencies - and most are honest about the exchange rate.
Most places will not accept US coins but only the paper money. Do not take any of the new dollar coins as they certainly will not be accepted.
You may get your change handed back to you in the local currencies. Don't argue about it but just use that money for ice cream, drinks, a package of chips, etc.
Do not even bother with travelers checks. You would have to wait in line at the ship's pursar to exchange them and you would be charged a fee. Your cabin on the ship will have a safe for you to keep your money, jewelry, passports, and other valuables in while on the cruise. Just take money for the day when leaving the ship - along with your passport and ship card, of course.|||US dollars are fine. That's what I use.|||All you need is good old American cash and they will take credit cards also.....
What is a reasonable working alternative to a fiat currency?
Considering that it appears that any country in history that has had a fiat currency has gone down the toilet economically.|||Wampum worked pretty well in this country for thousands of years before the white man appeared.|||There isnt. All mediums of exhange are fiat, I dont care if its paper, precious metal, or potatoes. So we change to gold....what regulates the value of that? Gold will adapt the value of whatever basket of goods its exchanged for, just like fiat paper money.|||Post hoc ergo propter hoc... huh?
You know what they call that?
The answer is no... and your assumption is false.
MOST of the countries in history that no longer exist.... DID NOT have fiat currency systems.|||A resource backed currency . Gold , silver , oil for example .|||A Zeitgeist movement.|||How about fiat credit cards?
You know what they call that?
The answer is no... and your assumption is false.
MOST of the countries in history that no longer exist.... DID NOT have fiat currency systems.|||A resource backed currency . Gold , silver , oil for example .|||A Zeitgeist movement.|||How about fiat credit cards?
How much is the current gas prices and the currency from U.S dollars to Canadian Money??
We're planning to drive through British columbia to Alaska jus' kinda curious of the gas prices and also the currency too!!!Thanks..|||The first link below will give you current gas prices for BC. The second link is for the Bank of Canada's currency converter. You can also get current exchange rates from the Bank of Canada site.|||The exchange rate has been running about even these days.
Gas in Ontario is $1.21 per litre;-} that's about $5/US gallon.
British Columbia may be more, due to shipping distance.|||Last time I filled up in Calgary it was $1.23 a litre. They have a carbon tax and a provincial sales tax in BC so it will cost more.
Gas in Ontario is $1.21 per litre;-} that's about $5/US gallon.
British Columbia may be more, due to shipping distance.|||Last time I filled up in Calgary it was $1.23 a litre. They have a carbon tax and a provincial sales tax in BC so it will cost more.
How is the currency conversion rate set?
Anyone know who sets the currency conversion ratio? Also, what standard do they use to set it? Precious metals, an economic theory, a list of factors?|||people buying and selling the currency. People buy the currency the rate goes up, people selling - it goes down!|||The foreign exchange rate indicates the value of any given currency relative to another. The exchange rates can change drastically from day to day depending upon the state of a country鈥檚 economy and various other factors.|||depending upon the economy of a country,each country values its own currency.and based on this valuation the convertion ratio is set.A stronger economy means higher exports and rich cash inflow.
What steps can management take to contain risks of an over valued currency?
"It is for this reason that UK companies responded to the appreciation of sterling in the late 1990s by increasing the proportion of imported inputs. Car manufacturers such as Toyota and Nissan that had UK plants and large EU sales, shifted sourcing of components to eurozone countries"
Source: Corporate Financial Accounting and Reporting - 2nd Edition by Tim Sutton (P.483)
How does increasing imports influence business in the valuation of a currency? Does it force businesses (importers / exporters) to increase their balances in the respective foreign currency?|||The question assumes that something can be "over valued". Values are highly subjective - for every person who thinks something is overvalued and sells it, someone else thinks it's undervalued and buys it. This is true for all markets.
Management can hedge against currency fluctuations through the use of forwards, futures, options, or some combination of these.
Source: Corporate Financial Accounting and Reporting - 2nd Edition by Tim Sutton (P.483)
How does increasing imports influence business in the valuation of a currency? Does it force businesses (importers / exporters) to increase their balances in the respective foreign currency?|||The question assumes that something can be "over valued". Values are highly subjective - for every person who thinks something is overvalued and sells it, someone else thinks it's undervalued and buys it. This is true for all markets.
Management can hedge against currency fluctuations through the use of forwards, futures, options, or some combination of these.
How did most British Commonwealth provinces change to a currency of dollars from pounds?
Why do so many countries in the world have a dollar as their currency? Is there a specific reason?|||Because US have so much influences toward other country than British did.
How do you become involved with currency investing?
I know some people who invest in currency and make money from it due to appreciation and depreciation to other currencies. Could someone please point me in the right direction to get started or to someone who can?|||Be careful of friends saying they're making money in currency investing. They could be in the market only six months %26amp; consider themselves a trader genesis. Being on the right side of a trade can be easy for a short period of time.... doing so year after year..... is something else entirely.
Two questions to ask them;
Do you trade currency (Forex) for short periods of time or invest for long periods?
How long have you been doing this?
Once you get the answer.... ask the question again.... being more specific.
What ever your answers...... this is a very dangerous area of trading or investing. As hard as stock investing or trading is.... doing currencies (profitably) is much harder.
There are many books on trading and trading currencies. Take a year or more and learn this stuff before you open a brokerage account.
Two questions to ask them;
Do you trade currency (Forex) for short periods of time or invest for long periods?
How long have you been doing this?
Once you get the answer.... ask the question again.... being more specific.
What ever your answers...... this is a very dangerous area of trading or investing. As hard as stock investing or trading is.... doing currencies (profitably) is much harder.
There are many books on trading and trading currencies. Take a year or more and learn this stuff before you open a brokerage account.
What would be the effects of a single global currency to overseas filipino workers?
what would be the effects of a single global currency to overseas filipino workers?
Perhaps there would be problems in remittances... but aside from that, what else?|||People's Court would be cancelled.|||Higher costs (marginal as well as absolute) for goods associated with the country, higher prices for the raw materials as well as labor. Less labor demand, more supply so there will most likely be a spike in unemployment. If the costs go up, supply with most likely decrease and produce a surplus of inventories.
Are you looking for more in-depth analysis? You'd need a good market model.
Perhaps there would be problems in remittances... but aside from that, what else?|||People's Court would be cancelled.|||Higher costs (marginal as well as absolute) for goods associated with the country, higher prices for the raw materials as well as labor. Less labor demand, more supply so there will most likely be a spike in unemployment. If the costs go up, supply with most likely decrease and produce a surplus of inventories.
Are you looking for more in-depth analysis? You'd need a good market model.
How is the currency value of India and Poland determined?
How is the currency value of India and Poland determined?|||The what is known as the FOREX Traders , move the value of all currencies up and down against each other. FOREX stands for foreign exchange.
The Traders work for Investment Banks, and they bet huge amounts of money (Called Trades) on whether a currency will go up and down.
The Traders work for Investment Banks, and they bet huge amounts of money (Called Trades) on whether a currency will go up and down.
How to group currency in a pivot table for excel?
Right now I have prices in as a Row label, such as $6.51-$9.47. I want to group them from $6-$10 in 1 dollar intervals, but when i group it, it loses the currency formating and just shows general numbers- 6-7. Anyone know how to fix this?|||In your pivot table options there should be an option that says something similar to "retain original formatting." Make sure that's checked.
What are the cons with getting rid of physical currency?
Imagine we have limitless technology and we live in a world where there is no longer any physical currency (no coins, no bills, nothing). All purchases are made via debit card or something similar and the global economy exists only as 1s and 0s in a global network. Would there be a downside be to all this?|||Sure. If the power goes out, you can't buy or sell anything.
It's going to be awkward to pay the kid next door for shoveling your driveway. Either the kid would have to have a card reader hooked up to his bank account, or he'd have to give you all his banking info so you could transfer money into his account. It's a lot easier to just hand him a ten.
I'm also one of those people who doesn't like the idea of all my financial transactions being traceable. I'm not doing anything illegal, and I'm not paranoid--it's just not a capability that I'm not willing to hand over to the government.
It's going to be awkward to pay the kid next door for shoveling your driveway. Either the kid would have to have a card reader hooked up to his bank account, or he'd have to give you all his banking info so you could transfer money into his account. It's a lot easier to just hand him a ten.
I'm also one of those people who doesn't like the idea of all my financial transactions being traceable. I'm not doing anything illegal, and I'm not paranoid--it's just not a capability that I'm not willing to hand over to the government.
A question to professing Christians: Is currency trading a sin?
I have been learning about currency trading for a couple years now. I am planning on investing in the short term, but I am afraid currency trading might be considered usury or something that could be considered sinful. I know Christians who trade or are somewhat involved in trading, but I don't think I should do as they do only because they are Christians and therefore, right. I do not want to offend God. I hope I can get serious answers. Thank you so much in advance for your help. May God bless you all.|||My parents are extremely strict fundamentalist christians and they currency trade....if they do something I guarantee its not a sin or theyd be repenting by now...trust me.|||I'm agnostic, so you can ignore this answer if you choose.
but It sounds like a sin to me.
I mean, you're not doing any useful work, and you're hoping to make a lot of money from it, right?
Isn't this really like stealing from the public?
Yu're hoping to get a lot of money from moving currencies around, and you're not giving the world anything in return -- except moving some currencies around. I think that just like theft.|||Christian myself no way is currency trading a sin absolutely not.Trade on!!|||Currency trading is not a 'sin' and you are not offending God neighbor. Good luck in your endeavor.
but It sounds like a sin to me.
I mean, you're not doing any useful work, and you're hoping to make a lot of money from it, right?
Isn't this really like stealing from the public?
Yu're hoping to get a lot of money from moving currencies around, and you're not giving the world anything in return -- except moving some currencies around. I think that just like theft.|||Christian myself no way is currency trading a sin absolutely not.Trade on!!|||Currency trading is not a 'sin' and you are not offending God neighbor. Good luck in your endeavor.
How does momentum and volatility work together in the currency markets?
Is it better to be high momentum and high volatility or high momentum low volatility to keep up on daily currency levels that change ? I am not into trading per se but am interested in learning it . Serious inquiries only and knowledgeable enquiries only . I am trying to learn and not wasting time. Keep web sites to a minimum unless it explains completely these 2 questions.|||All the currencies used today by every country are in fact worthless. None of them have any backing. Their perceived value lies in their relative scarcity in comparison to other currency.
Real money has real value. A hundred years ago, virtually all countries were using gold, or silver, or both for money. There were no exchange rates. An ounce of gold in London was equal to an ounce of gold in Berlin, or Rome. Politicians ticked people into accepting unbacked paper currency, which enabled them to steal the people's wealth through inflation. The rest is history.|||Dave, You Have no Clue how special you are. You were one of my first contacts and always know how to answer a question. You better not be no Stalker! lol!
Luv Sportscutie Is BACK!
Real money has real value. A hundred years ago, virtually all countries were using gold, or silver, or both for money. There were no exchange rates. An ounce of gold in London was equal to an ounce of gold in Berlin, or Rome. Politicians ticked people into accepting unbacked paper currency, which enabled them to steal the people's wealth through inflation. The rest is history.|||Dave, You Have no Clue how special you are. You were one of my first contacts and always know how to answer a question. You better not be no Stalker! lol!
Luv Sportscutie Is BACK!
Report Abuse
What is the best way to buy foreign currency for overseas travel?
Obviously don't do it at the airport... but how can i get the best possible exchange rate with the lowest fees? The currency type will vary for me... so whats the best general answer?|||earn money,change to foreign currency.|||What a worthless answer.
|||Try the airport or a bank.|||Find a place with a high concentration of banks, and go into your favourite. It is highly unlikely the rates will differ too much.|||You should use the exchange office at the airport of arrival for quick spending money. After that, use local banks.
Avoid exchange shops in tourist areas and the exchange service at your hotel - they usually have terrible rates.
If you're travelling with a lot of money, get traveller cheques too - they're insured against loss.
If you have an ATM card or a credit card, you can often use those too.|||local banks have the best exchange rate.|||Don't exchange for cash. Use your bank debit card (not credit card) if you need a small amount of cash when you get there from a local ATM. (Check with the bank to make sure that you can use it overseas) Only get cash as you need it. Pay for purchases with your debit or credit card, that way you aren't getting cheated by these small places that get fees for making exchanges.
Also, call your credit card company/bank before you go and let me them know you will be overseas, if they start seeing transactions on your card like that, they may put a security hold on your account.
Report Abuse
|||Try the airport or a bank.|||Find a place with a high concentration of banks, and go into your favourite. It is highly unlikely the rates will differ too much.|||You should use the exchange office at the airport of arrival for quick spending money. After that, use local banks.
Avoid exchange shops in tourist areas and the exchange service at your hotel - they usually have terrible rates.
If you're travelling with a lot of money, get traveller cheques too - they're insured against loss.
If you have an ATM card or a credit card, you can often use those too.|||local banks have the best exchange rate.|||Don't exchange for cash. Use your bank debit card (not credit card) if you need a small amount of cash when you get there from a local ATM. (Check with the bank to make sure that you can use it overseas) Only get cash as you need it. Pay for purchases with your debit or credit card, that way you aren't getting cheated by these small places that get fees for making exchanges.
Also, call your credit card company/bank before you go and let me them know you will be overseas, if they start seeing transactions on your card like that, they may put a security hold on your account.
What drive exchange rate of currency up and down?
1) I would like to ask what drive exchange rate of currency up and down?
2) How George Soros made those Asian currencies to depreciate?? I know he used some derivative tools to do it but how??
Please elaborate on the answer. Thank you.|||What a great question.
Truth is, no one can give you the whole answer to that question, but there are two main factors, if we decide to forget about the unexpected things that happens, such as terror and its like.
Basically it is demand and supply, If the demand is higher than the supply the currency will rise, and opposite. Then what drives supply and demand? Interest rates is one thing, deficit in the trade balance, investments in a country, and other things like that.
Another factor to take into consideration is the expectancy of the future development in the country.|||George Soros has nothing to do with it. Inflation drives the value of currency.
2) How George Soros made those Asian currencies to depreciate?? I know he used some derivative tools to do it but how??
Please elaborate on the answer. Thank you.|||What a great question.
Truth is, no one can give you the whole answer to that question, but there are two main factors, if we decide to forget about the unexpected things that happens, such as terror and its like.
Basically it is demand and supply, If the demand is higher than the supply the currency will rise, and opposite. Then what drives supply and demand? Interest rates is one thing, deficit in the trade balance, investments in a country, and other things like that.
Another factor to take into consideration is the expectancy of the future development in the country.|||George Soros has nothing to do with it. Inflation drives the value of currency.
What would happen if you put the wrong currency in a vending machine?
I live in Canada and I've only tried putting Canadian money in the vending machines here. What if I was at an airport or something, could I use any currency in a vending machine there? If not, how would I know which one to use?|||I suppose it depends on how advanced the machine was. The machines can only tell different coin sizes from each other so you could in theory use a coin of the same size from a different currency. Not sure how specific they are so you'd have to just give it a try.
However, considering how often those machines reject native currency if the coin isn't 'exact', you might struggle to find a match.
Anyway, worst case scenario, it'll refuse your coin and return it.|||It's going to spit it back out.|||it probly wouldnt give you what u ordered...
However, considering how often those machines reject native currency if the coin isn't 'exact', you might struggle to find a match.
Anyway, worst case scenario, it'll refuse your coin and return it.|||It's going to spit it back out.|||it probly wouldnt give you what u ordered...
What are advantages and disadvantages of unified global currency?
I need to know what are the pros and cons of having unified global currency from an economic perspective.Thank u all..|||The worst thing about global currency is the same as the worst thing about a truly global food supply or energy supply. You have what is known as a single point of failure. If the one currency crashes then everything crashes. At present, if the dollar crashes then gold or the Yuan or the Yen could conceivably pick up the slack.
If you want a totalitarian dictatorship wherein a small group of people have control over the whole world, then a one world global currency is a good thing. That's way Communists and Marxist want one currency--one ring to rule them all.
If you had one currency then there would be no exchange rates to worry about. In theory the money supply could be regulated to control inflation.
Again if you are are Marxist or Communist, it would be easier to divert the money from people who earned it to people who don't work and don't intend to.
If you want a totalitarian dictatorship wherein a small group of people have control over the whole world, then a one world global currency is a good thing. That's way Communists and Marxist want one currency--one ring to rule them all.
If you had one currency then there would be no exchange rates to worry about. In theory the money supply could be regulated to control inflation.
Again if you are are Marxist or Communist, it would be easier to divert the money from people who earned it to people who don't work and don't intend to.
How much currency notes should be printed in a country. How governments decide the quantity ?
What governments keep in view to determine publication of currency notes. What is the basis which control thier choice.|||it depends on the countries wealth and their gold and stuff if the country is rich them make more because the people use more
How would a person change dollars to other currency?
Given the way the dollar has been, our country has been, our economy has been, it seems that keeping one's saving in dollar format is stupid.
It might make more sense to put one's saving, in part in the currency of anothe country which is running itself better.
How can this best be done.
Open to any suggestions. I don't really favor buying gold per se. Could one purchase equities that might do this?
Any thoughts appreciated or sites for research.|||Two ways I know of:
There are a series of stock ticker symbols which are essentially 100 of some other unit of currency (FXE for euros, FXC for canadian dollars, %26amp;c) which pay a dividend based on the prevailing interest rates for those currencies. If you have a brokerage account already, buying those shares is like buying the other currency. Go to www.currencyshares.com for more info.
Also, Everbank (www.everbank.com) offers CDs and money market accounts in alternate currencies, or even combinations of currencies. Opening an account there would be another way to do it.
It might make more sense to put one's saving, in part in the currency of anothe country which is running itself better.
How can this best be done.
Open to any suggestions. I don't really favor buying gold per se. Could one purchase equities that might do this?
Any thoughts appreciated or sites for research.|||Two ways I know of:
There are a series of stock ticker symbols which are essentially 100 of some other unit of currency (FXE for euros, FXC for canadian dollars, %26amp;c) which pay a dividend based on the prevailing interest rates for those currencies. If you have a brokerage account already, buying those shares is like buying the other currency. Go to www.currencyshares.com for more info.
Also, Everbank (www.everbank.com) offers CDs and money market accounts in alternate currencies, or even combinations of currencies. Opening an account there would be another way to do it.
What are the implications of China devaluing its currency?
Why is America getting so upset about the possibility of China devaluing its currency? Is it really that bad? Surely it will help countries that import goods from China?|||By making their money cheaper it makes their goods cheaper. So, yes, people buy more from them cheaper.
But that moves money to China, it drains money from the United States that because they are making OUR goods MORE expensive they don't buy from us.
Exchange rates if are allowed to operate in a free market, float normally, their money would increase value to balance the unfair, unequal trade balance, making our goods cheaper and they would buy more from us.
But China is controlling their money value by manipulation to drain money from other countries. |||Rule of thumb is whenever government interferes, there's inefficiency. By holding their currency cheap, China is bringing unfairness to trade between them and those countries who play fair game (by not interfering to their currency rates). Thus China is getting current account surplus and US is getting current account deficit. (although there are other source of this deficit besides currency rates). You can also observe how China's forex reserves are growing. Some economists view this as not necessarily negative. Since Capital inflow to the US should balance out. Since there's investment surplus in the US. However we have to pay interest and dividends for these investments.
But that moves money to China, it drains money from the United States that because they are making OUR goods MORE expensive they don't buy from us.
Exchange rates if are allowed to operate in a free market, float normally, their money would increase value to balance the unfair, unequal trade balance, making our goods cheaper and they would buy more from us.
But China is controlling their money value by manipulation to drain money from other countries. |||Rule of thumb is whenever government interferes, there's inefficiency. By holding their currency cheap, China is bringing unfairness to trade between them and those countries who play fair game (by not interfering to their currency rates). Thus China is getting current account surplus and US is getting current account deficit. (although there are other source of this deficit besides currency rates). You can also observe how China's forex reserves are growing. Some economists view this as not necessarily negative. Since Capital inflow to the US should balance out. Since there's investment surplus in the US. However we have to pay interest and dividends for these investments.
How do I start a new currency to compete with the US Dollar?
I can create a new currency that nobody can replicate except for me. I will use my blood as the print, and then only ink matching my DNA will be authentic.
How do I go about starting the new currency? How can the exchange rate between my new currency and the dollar be determined?
What is the best way to get financial institutions to borrow my new currency from me instead of borrowing US Dollars?
Then I will print some of my own currency and give it to poor people.|||You don't need to do anything. You can go ahead and make your currency and distribute it. If people are willing to exchange dollars for it, it will take off.|||That's a hellofa question Eric, but the real question you should be asking is what if c-a-t really spells dog! P.S. Where do you get your weed from? It sounds like it's good sh*t?
|||First you'll need an IRS to harrass resistors with rigged court trials and jail time, and an FBI to kick down the doors of anybody who tries to use any other money . . .
You'll need a good supply of Jack Boots . . . try Wal Mart, they're not as good as docs, but the Chinese already accept fiat dollars, so they'll probably accept your new money.|||The Constitution gives Congress exclusive power to "coin money and regulate the value thereof". But Congress gave that power to the bankers, aka Federal Reserve.
But what are you going to do about Article 1 Section 10 of the U.S. Constitution which says "No State shall make anything but gold and silver coin a tender in payment of debt"?
But they take Fed notes, so maybe they'll take yours.|||eric, you are one of the dumbest people i have ever come across|||get yourself a press and start printing!|||First you have to create a new country. Since there is no unclaimed, that means conquering some other country. Then you have to have resource to back your currency. Printing currency guarantees the value will quickly go to zero. You word or your is worthless to back a currency or anything else.|||You can go ahead and start a new currency but with your own bllod as ink don't thing it will have much value.|||I think the gov would not like that much and stop you quickly. Plus you could never print enough money cuz you can only generate so much blood in a period of time. and then when you die its worthless so why would anyone want it?|||You won't be able to print much of it with the paltry five liters of blood in your body.
However, if you want to print just enough for a dozen people you take a retired offshore oil rig in international waters and you claim it as a new country and you as president for life. I seem to remember trying something like that a few years back.|||Only the feds can print currency. You can barter with your blood-money, but nobody would be required to accept it.|||you need help. go to a psychiatrist.|||Research the Liberty Dollar.|||call it the Amero|||In my opinion, you would first have to buy a country you could call your own, then you could coin your own money.
How do I go about starting the new currency? How can the exchange rate between my new currency and the dollar be determined?
What is the best way to get financial institutions to borrow my new currency from me instead of borrowing US Dollars?
Then I will print some of my own currency and give it to poor people.|||You don't need to do anything. You can go ahead and make your currency and distribute it. If people are willing to exchange dollars for it, it will take off.|||That's a hellofa question Eric, but the real question you should be asking is what if c-a-t really spells dog! P.S. Where do you get your weed from? It sounds like it's good sh*t?
Report Abuse
|||First you'll need an IRS to harrass resistors with rigged court trials and jail time, and an FBI to kick down the doors of anybody who tries to use any other money . . .
You'll need a good supply of Jack Boots . . . try Wal Mart, they're not as good as docs, but the Chinese already accept fiat dollars, so they'll probably accept your new money.|||The Constitution gives Congress exclusive power to "coin money and regulate the value thereof". But Congress gave that power to the bankers, aka Federal Reserve.
But what are you going to do about Article 1 Section 10 of the U.S. Constitution which says "No State shall make anything but gold and silver coin a tender in payment of debt"?
But they take Fed notes, so maybe they'll take yours.|||eric, you are one of the dumbest people i have ever come across|||get yourself a press and start printing!|||First you have to create a new country. Since there is no unclaimed, that means conquering some other country. Then you have to have resource to back your currency. Printing currency guarantees the value will quickly go to zero. You word or your is worthless to back a currency or anything else.|||You can go ahead and start a new currency but with your own bllod as ink don't thing it will have much value.|||I think the gov would not like that much and stop you quickly. Plus you could never print enough money cuz you can only generate so much blood in a period of time. and then when you die its worthless so why would anyone want it?|||You won't be able to print much of it with the paltry five liters of blood in your body.
However, if you want to print just enough for a dozen people you take a retired offshore oil rig in international waters and you claim it as a new country and you as president for life. I seem to remember trying something like that a few years back.|||Only the feds can print currency. You can barter with your blood-money, but nobody would be required to accept it.|||you need help. go to a psychiatrist.|||Research the Liberty Dollar.|||call it the Amero|||In my opinion, you would first have to buy a country you could call your own, then you could coin your own money.
Subscribe to:
Posts (Atom)