Money. Credit. Banks. Cheat sheet (lecture notes)

Lecture notes, cheat sheets
Free library / Directory / Lecture notes, cheat sheets

Money. Credit. Banks. Monetary systems (MS), structure, types (lecture notes)

Lecture notes, cheat sheets

Table of contents (expand)

Monetary systems (DS), device, types

The DS of the country is a historically established national system of organizing money circulation, fixed by traditions and formalized by law. DS of states arise and develop as the types and forms of money develop. Types of DS are determined depending on the form of monetary material (commodity, metal, paper, virtual). Commodity and metal money are valuable, paper and virtual - inferior. On the basis of this principle, 3 types of DS can be distinguished: commodity; metal (monometallic (M) and bimetallic (B)); fiduciary (proper paper and credit-paper, electronic). There are also mixed and transitional varieties.

Commodity DS. They are formed in the early stages of development of a commercial economy. In conditions of mining and gathering, shells, feathers, and cocoa beans become money. The first major division of labor leads to the creation of a monetary system based on livestock, grain, or furs. Depending on the material type of goods that form the basis of the DS, they are divided into river, sea, forest, etc. The development of metal processing methods and the increase in their role in economic life leads to the transition to metal DS.

Metal DS. They are classified depending on which metal plays the role of money. They are divided into monometallic (M) and bimetallic (B). M contain three stages: copper, silver and gold monometallism. Gold monometallism, in turn, is divided into gold coin, gold bullion, and gold exchange standards. B DS are divided into parallel, double, “lame” currencies. Monometallic are called DS, in which one metal occupies a dominant position, serves as a universal equivalent and dominates in monetary circulation. Bimetalism is a DS in which monetary functions are legally assigned to two metals - gold and silver. Copper monometallism: Ancient Rome 3-2 centuries. b.c.e. In Russia, too, copper money was used. In 1748, Lomonosov was awarded 1800 kg of copper money. Inconvenient. Silver monometallism. Russia 1843-1852, India mid-late 19th century. Holland. In China until 1935 The transition from silver monometallism to gold is carried out through bimetallism. Parallel currency system - the price relationship between gold and silver coins is formed spontaneously on the basis of the market value of monetary metals - gold and silver. Dual currency system - parity between the value of gold and silver is established by the state. The minting of coins and their acceptance for payment are carried out in accordance with the legal ratio. The system of “limping currency” - the state refuses to mint coins from any monetary metal, but at the same time there are gold and silver coins in circulation. The fragility of the bimetallic DS caused the transition to gold monometallism. England in 1816, Russia in 1897. Reason: silver depreciated, and the gold reserves of countries strengthened. Three varieties: the gold coin standard is characterized by the free circulation of gold coins. Gold is freely imported and exported. This system was undermined by the beginning of the 1st World War. The gold bullion standard was used in countries with significant reserves of gold. Banknotes were exchanged for gold bars. After the crisis of 1929, the gold exchange standard was in effect. Exchange of banknotes for the currencies of those countries, which in turn can be exchanged for gold. In 1971, the United States stopped exchanging dollars for gold - the end of the Bretton Woods system, in which 35 troy ounce of gold was given for 1 dollars, i.e. countries fixed their currencies in dollars or gold.

fiduciary DS. In all countries of the world, the fiduciary standard is now dominant. Fiduciary DS are systems in which banknotes are not representatives of public material wealth, in particular, they are not exchanged for gold. There are 3 types of fiduciary systems: transitional, combining metal and paper circulation; full fiduciary standard; electronic-paper money systems. For transitional systems, a characteristic phenomenon is the excess of the market price of the monetary metal, expressed in paper banknotes, the face value of paper banknotes representing a given amount of monetary metal. Currently, the transition to electronic-paper money systems is being carried out.

Author: Shevchuk D.A.

<< Back: Electronic money (ED), their properties and features

>> Forward: Management principles and functioning of the monetary system

We recommend interesting articles Section Lecture notes, cheat sheets:

▪ Summary of works of Russian literature of the XIX century

▪ Advertising and promotional activities. Lecture notes

▪ History of the state and law of Russia. Crib

See other articles Section Lecture notes, cheat sheets.

Read and write useful comments on this article.

<< Back

Latest news of science and technology, new electronics:

The existence of an entropy rule for quantum entanglement has been proven 09.05.2024

Quantum mechanics continues to amaze us with its mysterious phenomena and unexpected discoveries. Recently, Bartosz Regula from the RIKEN Center for Quantum Computing and Ludovico Lamy from the University of Amsterdam presented a new discovery that concerns quantum entanglement and its relation to entropy. Quantum entanglement plays an important role in modern quantum information science and technology. However, the complexity of its structure makes understanding and managing it challenging. Regulus and Lamy's discovery shows that quantum entanglement follows an entropy rule similar to that for classical systems. This discovery opens new perspectives in the field of quantum information science and technology, deepening our understanding of quantum entanglement and its connection to thermodynamics. The results of the study indicate the possibility of reversibility of entanglement transformations, which could greatly simplify their use in various quantum technologies. Opening a new rule ... >>

Mini air conditioner Sony Reon Pocket 5 09.05.2024

Summer is a time for relaxation and travel, but often the heat can turn this time into an unbearable torment. Meet a new product from Sony - the Reon Pocket 5 mini-air conditioner, which promises to make summer more comfortable for its users. Sony has introduced a unique device - the Reon Pocket 5 mini-conditioner, which provides body cooling on hot days. With it, users can enjoy coolness anytime, anywhere by simply wearing it around their neck. This mini air conditioner is equipped with automatic adjustment of operating modes, as well as temperature and humidity sensors. Thanks to innovative technologies, Reon Pocket 5 adjusts its operation depending on the user's activity and environmental conditions. Users can easily adjust the temperature using a dedicated mobile app connected via Bluetooth. Additionally, specially designed T-shirts and shorts are available for convenience, to which a mini air conditioner can be attached. The device can oh ... >>

Energy from space for Starship 08.05.2024

Producing solar energy in space is becoming more feasible with the advent of new technologies and the development of space programs. The head of the startup Virtus Solis shared his vision of using SpaceX's Starship to create orbital power plants capable of powering the Earth. Startup Virtus Solis has unveiled an ambitious project to create orbital power plants using SpaceX's Starship. This idea could significantly change the field of solar energy production, making it more accessible and cheaper. The core of the startup's plan is to reduce the cost of launching satellites into space using Starship. This technological breakthrough is expected to make solar energy production in space more competitive with traditional energy sources. Virtual Solis plans to build large photovoltaic panels in orbit, using Starship to deliver the necessary equipment. However, one of the key challenges ... >>

Random news from the Archive

Brain implants to control robotic prostheses 31.05.2015

The level of technology of our time does not even allow us to talk closely about such things as controlling something with the power of thought. At least if we mean exactly what is usually meant by such a formulation.

But on the other hand, there are many projects and ready-made solutions that do not use thought as a formulated idea of something, but directly the so-called "brain waves". For example, back in 2008, OCZ showed the NIA controller, which recorded not only the activity of the facial muscles, but also those very low-intensity electromagnetic waves.

But game controllers based on such technologies, even after seven years, are, in fact, nothing more than pampering. But robotic prostheses controlled by the "power of thought" are really extremely useful for the disabled.

The main problems of all such devices are the high complexity of prosthesis control at the initial stages, as well as a certain differentiation of actions. Both problems come from the technology itself. For more or less full-fledged work with such devices, a fairly long calibration is required. But even after the user gets used to it, the second problem remains. The fact is that a person in ordinary life does not think about how to perform this or that action with his hand or foot. We do not even think that we want to make some kind of movement (of course, there are exceptions). In the case of prostheses, everything is different. A person has to think through every step of a particular movement (raise his arm, bend at the elbow, stretch, and so on).

But a new development from the California Institute of Technology (Caltech) could make life easier for people in need. Specially designed implants are placed in the posterior parietal cortex, while often similar solutions are implanted in another part of the brain. The bottom line is that this part of the brain is not responsible for the work of the muscles, but for the "intention" to perform some kind of action.

The development, unlike many others, has already been tested in practice. Paralyzed for the past 13 years, Erik Sorto received new implants. According to the thematic resources, Sorto was happy that he was able to drink a can of beer on his own. Moreover, it is claimed that Sorto was able to control the prosthesis on the first day after the operation.

Other interesting news:

▪ USB keys for accessing sites

▪ Fed up with just one scent

▪ New superglue sticks to hydrogel

▪ Laser against dust

▪ Robot eagle

News feed of science and technology, new electronics

Interesting materials of the Free Technical Library:

▪ section of the site Funny puzzles. Article selection

▪ article You have your own wedding, we have our own. Popular expression

▪ article Which famous electric guitar designer couldn't play the guitar himself? Detailed answer

▪ article Personnel for diagnostics and maintenance of tractors. Standard instruction on labor protection

▪ article Enameling of iron utensils and sheet iron. Simple recipes and tips

▪ article Powerful transistor in avalanche mode. Encyclopedia of radio electronics and electrical engineering

Leave your comment on this article:

All languages of this page

Home page | Library | Articles | Website map | Site Reviews