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|home Banking Books Penny-credit systems and foreign countries - Ivanov V.M.|
Penny-credit systems and foreign countries - Ivanov V.M.
Type of penny system to lay down the form of organizing penniless money in the country. The first type of penniless obigu povyazaniy z vikoristannyam metal pennies.
Persian coins appeared in China in the old Lіdіyskіy state at the VII century. BC e., Persian papierov pennies were lost in China at the VIII century. BC e. At 1500 p. a detachment to China of retaliation buv zupiniti issue of papermoney pennies through difficulties, owing to the need for inflation.
Tipi penny systems for winter hours are shown in fig. 3.
At the XVI — XVIII centuries The system began to bimetalize , so that they immediately tried coins from gold and silver. Bіmetalіzm mav three species:
• a system of parallel currencies (with a fixed number of coins replaced by stanza);
• a system of fixed currency (double exchange of coins with coins that became a power);
• the system of "cultural" currency (average coins are a sign of gold). Mіzh srіblomom and gold vstanovlyuvalsya vocal songs spіvvіdnoshennya.
At 3 o’clock time, secured on a coin, they were vivid and reconnected, a new relationship wasted power, but it made you aware that you were aware of one kind of penny. On the basis of the whole law, the law was introduced: "trash" pennies with the word "good". With bimetalism, “pennies” were penniless, the wisdom of those who were on the market of valuable metals was lower for official income, and the “goodies” were penniless, they were more expensive for the price. Vitamin "Dobrich" pennies "trash" made the transition from money to monometalism to money - a penny system, in which the role of pennies is one metal. Having become gold monometalism, and having found it with a gold form, it will become the gold coin standard.
Maige all XIX і part of XX century povyazanі s panuvannyam system and the gold standard. Well, until the exact dates, then here is the name of the unapproachment. Respect that the era of the gold standard has come back in England, for example, in the 18th century, although it wants to be legislatively secured in 1816. To confirm the same, the era of the gold standard can be fixed in 1821, as long as the British Empire has pound sterling converted to gold. Not out of place and the United States converted Dolar. Persha svitova vіyna ustotno pіdіrvala system of the gold standard in most of the country svіtu. In the USA, for example, won ceased to exist in 1933, so that the Great Depression. Tom dekhto vvazhaє tsey perіod zakinchennyam era of the gold standard. That actually the elements of the system were unstoppable in other world news, and more than in 1971 p. she won’t noticeably, if the United States pinned gold purchase-sales for fixed prices.
For the system of the gold-coin standard, the characteristics are carbuvanny and obig of gold coins, a large rozmіn paperovyh pennies for gold vidpovidno up to the statutory place in the metal in a penny.
Roskvіt gold standard should be established until the end of XIX - the cob of XX century. Itself in the whole period bahato krask zdіsniili groshі reform. The showcase of the є Groshov’s reform in Tsarist Russia in 1897 , if in obig bulo gold rubles were spent, as much as possible they exchanged money for pennies. The ruble has gained 0.77 g of gold. For the future: the golden war of dolar became 1.6 g, the pound sterling - 7.3, the franc - 0.29 and the mark — 0.25 g of gold.
Golden pennies at the bank at once with credit. Derzhbank pіdtrimuvav rіvnovagu and suvoro control by issuing a credit card issuance. Kilkіst ix to obigu could not overstate the gold reserves of the country more than 300 million rubles. The protege is really the gold reserve of the iodis, having overpowered the sum of the credit bills, they have been relocated to the bank.
The stability and convertibility of the ruble was based on a higher financial foundation. For ten rock years (1887-1897), the gold reserve was approximately 2.5 times larger and overdone 1 billion rubles. Tsyomu was inspired by the traditionally positive balance of the current trade balance. The budget of the country will be deficient, and the oath of industrial taxation for the years 1890-1899. zbіlshivsya vdvіchі.
Unsurprisingly, those who won’t be able to obg gold coins didn’t wake up as much as they were near them. Moreover, they often wanted to sound as if they were unskilled in disguise. Schodo tsogo wiklik є interest pratsya D. Rіkardo "Proposal on the scale of an economical і stіykogo penny obigu ...". D. Rіkardo buv with a gold standard standard hangover, fragments without tsyo, thought to the thought of one, cannot be more stable. Protein dobro rozumіv, scho zolotiy obig є an unbeatable pull for the economy of the country. Groshov’s system, having respected wine, is guilty of a booty not less than a skill, but a thrifty one. And with such a won may booti, if you have to get over the penny pennies, yakі can be exchanged for gold. D. Rіkardo also having respected the right to the penny, didn’t rely on gold coins, but on gold coins. When there is a great deal of gold for mineral reserves of gold. D. Ricardo, meaning that a supply of 3 million worth of groshovy masi is correct.
The requisition of the gold standard required the participation of a leather-country-participant in converting the domestic currency into gold at a fixed rate. The most recent international norms, which were regulated by the currency exchange rate, did not disappear. I don’t consume it. The basis of foreign exchange rates is the gold parity. Having removed the export of gold from the country, exchanging national currency for foreign currency did not interfere. Tse spryalo stabilizatsії exchange rates. Foreign currency parity of the intervening cost of transporting gold from one country to the country. Such a system was created by the shvidkoy ekonomіchny zrostannya.
On the cob of Persian Light Gold, the progressive discontinuation of the functionality of the foreign equivalent, a penniless product. Tsey process buv a heavy blow. Vіyna demanded bagato koshtіv, defied the deficit of sovereign budgets, but didn’t get the groszosh system. At the most valuable Ukrainian gold coins, I’m doing my best. At the higher period, the gold-coin standard has been deprived of the United States. In the English and French Bulo the gold-grained standard was procured, for some coins they didn’t let go of the coins, but a bit of money was saved in exchange for gold coins. Standard wagon zlivkіv became 12.5 kg. Deacon’s lands have desecrated the system of the gold standard. Such a system did not transfer the direct exchange of national pennies to gold, but it is possible to exchange money for foreign currency, exchange for gold.
The system of the gold standard , legally framed by the decisions of the Genoa Conference (1922 p.), Isn’t completely lacking. At the period of private economic crisis 1929-1933 pp. won over the collapse. At 1933 p. gold pennies in the United States bulo vilucheno z obіgu. At this hour, special instructions indicate vimagali, sober usi individuals, companies and banks sold their gold to the banks of the Federal Reserve System and the Treasury for a price of $ 20.67. per ounce (31.1035 g). As a result of gold mining due to the huge numbers of the USA, they could not exchange gold for gold, and they were entitled to gold until 1971 p. kupuvati gold at a price of 35 dollars. per ounce.
An important crook to the lowering of the role of gold was the Bretton-Woods pleasing (1944 p.) Krai anti-Hitler’s coalition. Wherever you please, with your own reserves and rozrahunkovym currencies vernіnі іz gold boules two national currencies - the US dollar and the pound sterling England. Otzhe, the monopoly of gold in the international razrahunok bulo poklazheno edge. Water hour USA goiters pledtrimuvati rozmіn paparovyh dolarіv for gold for ofitsіynoy price 35 dollars. for one ounce, ale tilki for the central bank and state-owned institutes of the country. Visuvannya dolara on the role of new pennies demanded a new position. Due to the territory of the country, the members of the Bretton Woods currency system established a solid parity of their currencies for the dollar and the government pledged for additional foreign currency exchange rates at a higher margin of 1%.
The Bretton-Woods currency system for the sale of the 50-60s rockіv spryala development of international economic vidnosin. However, there is little gliboki internal superechnost. Rosemin’s papermaker’s pennies for gold for an official price of bouv being an indescribable pull for the USA. At 1970 p. short-run US borg at 6 times overpowering gold reserves. Mayzhe, the monopoly of Vlad Dolar at the Svitovy Arena, didn’t try to celebrate Europe’s potential in Japan and Japan. If you try to enter the whole village, you will have to bring the "regulated currency" to J. Keynes’s realization. The SDR (Special Drawing Rights) became such a currency. It is a single currency unit, a reissue of some kind came from 1 period 1970 p. On the spot, the name of the unit is tied up to gold, becoming gold in gold, becoming 0.888671 and having been paid before the US dollar. Pislya devaluation $ 1971 and 1973 p. SDR rate increased by 1.2 times. Most of the time, there was a view of gold and I felt like a significant amount of SDR based on the average exchange rate of five currencies - the US dollar, the German mark, the French franc, the British pound sterling, Japanese 4.
Fig. 4. The components of the standard currency cat, which mean the SDR wart
The important croc to change the role of gold in the penny system was tested in 1968. Bulo is packed up of goiters' bank bonds in the Fed. Reserve reserves in gold. In 1914, as long as the Fed got in control, in the minds of issuing gold to the standard of rozmiri reserves in banks, there was a reserve of gold and a reserve of gold. Gold flow in the order market: if the goods were sold - gold in the box went into the market circle, on the other hand, the gold went up to the box in the market.
Until 1945 p. US banks fed boulevards of gambling, maturity of gold reserves in the amount of 40% of nominal banknotes issued by them, and 35% of total deposits. At 1945 p. prices were reduced to 25%. At 1965 p. vimogas were shipped to reserves for deposits at federal reserve banks, and in 1968 - i schodo Fed notes. The number of people zoomed out in time, but the number of Gotovka’s pennies in the population lasting twenty rock (up to 1968 p.) Zbilshuvala at the average by 34% for the river. So tempi zrostannya could not be trivati, yakby banknotes were secured by reserves of gold certificates.
The economy of the crisis on the cob of the 70s rocked the road to life in order to reach a stable position, and to stabilize the situation with the dollar. 3 feasible інфляції різко підвищився is drunk on gold. The population started to beat the yogi for zhistu vіd інфляції. Rinkova price gold of $ 35 per ounce in 1970 pіdvishilsya mayge to 160 dollars. at 1974 p. Yakshko until 1971 p. The United States abused Dolar on a frivolous city, then in 1971 the bulo is stunned, so no goiters. At tsyomu era of the gold standard ended.
How to estimate the age of the gold standard? The National Commission of the United States of America from Gold and Gold and the Encyclopedia of American Economic History name the period of the most significant American history. Investments in capital boules were supernaturally high, even though they weren’t without unemployment, real virology and vitrati and vitrati were underestimated at a fast pace.
The system of the gold standard has secured stability in the interior, as in the international economy. At tsyomu rivals. The water hour is the gold standard of mav singing. In the first place, it has become impotent to regain an irrelevant penniless credit policy, tied to the internal problems of the country. In a different way, at the time of the war, if the demand for cats was very quickly increased, the most frequent issue of papermoney was put the total amount of gold conversion. Countries that have been so reckoned with in such a situation protect the convertibility of papermoney pennies for gold, they shvidko spent their gold standard.
Due to the collapse of the gold standard and the prizes of papered pennies for gold, the problem of the role of gold has naturally arisen: who is to get out of pocket with a penny?
The henchmen of the traditional approach positively appreciated the position, which was a certain kind of gold, as well as earlier, ро a grocery item, the basis of a penny system, the extra functions of the world, and the pennies ’pennies are gold signs. Such large systems are based on paper currencies. Paperov pennies є less a sign of gold, and gold and dalі vіdіgraє the role of the igneous equivalent [58, p. 86-87].
The order is out of tune, which has nothing to do with anything, imprison the author, but do it: the gold has become a staple item and has lost the role of the foreign equivalent. Ale Todi's fasting: how do you have right now pennies, don’t have any internal vartosti, can you see the role of the igneous equivalent? To be impressed by the variety of food choices. All the way to the open form of wartost, if the wartime of pennies was started, the wartime of goods was started, I looked at credit pennies as a monopoly product, and I hung up for the role of the igneous equivalent of wartost robotic power.
The trivale of pandering the system of the gold standard and the detailed elaboration in economic theory led to the fact that the theory of pennies has become more classical, it’s very simple literature, people have to say that they are indifferent, ignorant. The proto ‐ historical dosvіd showing, scho zolotogroshova system, as і all in suspension, istorichno perekhіdna.
Gold has ceased to function as pennies - Miri Wartosti, prices have appeared in the form of gold. So, the video footage of gold remained unchanged for an hour. I jacquered the direct deposit of gold and gold goods and goods, then the price of mali would be lower. Right up and down, and the wart of gold, as if it were a good commodity, is bent on pennies.
Rosglyanem svitov pennies . Respect, scho tolka gold can see the function of such pennies. One of the principles of the Bretton-Woods system, having assumed that gold is guilty of guilty of the function of the holy pennies of the order of dolar. Along with the suspension of the new period reached such proportions that gold could not secure the consumption of the market through obmezhenіst obyagіv.
The axis of the sichnі in 1976 p. at K_ngstonі (Jamaica) the bulo was written for the sake, the yak left the cob for a new - fourth svіtі system - Jamaican. For the sake of pleasing, she gained official ranks on the 1st quarter of 1978 p. The main signs of the new system are Bulo, in the first place, the devaluation of gold from the international razrahunkіv with a glance of liquidation of the parity of the currencies and the establishment of the official price of gold. International currency market after accepting gold as payment of quotas and loans for loans. In other words, of course there was a floating exchange rate, that is, exchange rates, as well as being on the currency market fall in the form of buying and selling, and that provision. On the other hand, the Jamaican ’sake of wanting the de facto zafiksuvala was more important than the camp of the United States dollar, ale narіvnі z dolar with international reserve currencies and rozrachunkovymi currencies a brand name, a Swiss franc and a Japanese єnu.
Yak vidomo, the number of pennies is guilty of vidpovidaty sum і z і z urakhuvannyam shvidkostі obіgu currency. Gold can see the function of a penniless commodity for understanding, which is the most valuable commodity for the singing country. Alya vidobutok gold zbіlshuєtsya not at such a fast speeds, as virobnitstvo goods_v. Tom winnieє superachnost between mid-day economy and the addition of gold and yogo obigom yak pennies. On the first steps, for the sake of supremacy, one can choose the best gold, from one side, and with a loan - from the first. The loan has expanded the interdependence of suspension virology, adjusted the cost for an economic day.