Position: Home page » Virtual » Monetary system of virtual currency

Monetary system of virtual currency

Publish: 2021-04-23 07:25:26
1.

The main contents of monetary system are as follows:

1. Monetary materials. Monetary material is to specify what material a country's currency uses as its material. Taking different materials as the standard monetary materials, different monetary standard systems, namely monetary system, are formed

Monetary unit. It refers to the name of the specified monetary unit and the amount of value it contains

3. The casting, issuing and circulation of currency. It is an important part of a country's monetary system to stipulate the casting, issuing and circulation proceres of various currencies. The currency of a country can be divided into main currency and subsidiary currency, which have different casting, issuing and circulation proceres

4. Preparation system. In order to stabilize the currency, the monetary system of every country contains the content of preparation system

monetary system is the structure and management form of money circulation determined by the state in the form of law, and it is the criterion to regulate monetary behavior

Looking back at the history of world currency, it is not difficult to find that all kinds of monetary systems, including gold standard, silver standard, copper standard, gold silver double standard and Bretton Woods system, are basically built around precious gold

In 1625, the Swedish government adopted copper standard; Britain established the gold standard in 1717. In the early 19th century, Britain adopted the gold standard system, France adopted the gold and silver double standard, and Germany, Austria Hungary, Russia and Far East countries all adopted the silver standard

During the 35 years from 1880 to 1914, the gold standard was adopted in major western countries, and gold coins could be freely cast, exchanged and exported

From 1914 to the eve of the end of World War II, the world economy suffered two world wars and a great depression, and the international trade system entered an unprecedented period of chaos

During this period, three currency groups (pound group, dollar group and Franc group) centered on Britain, the United States and France were formed. The three groups used their own currencies as reserve currencies and the main sources of international solvency

at the same time, the struggle for international monetary and financial dominance has been launched all over the world. At the end of the Second World War, an international monetary system, namely the Bretton Woods system, was established with the US dollar as the center, the US dollar linked to gold and the currencies of various countries linked to the US dollar

Although the Bretton Woods system is nominally an adjustable exchange rate system, its essence is fixed exchange rate

After the collapse of the Bretton Woods system in 1973, the international monetary system graally changed from a fixed exchange rate system to a managed floating exchange rate system, and the currencies of some developed countries, such as the German mark, Japanese yen, British pound and French franc, graally became the reserve objects of various countries

On April 1, 1978, the International Monetary Fund (IMF) revised the provisions of the International Monetary Fund (IMF) and formally came into effect, implementing the so-called "managed floating exchange rate system"

The new exchange rate agreement gives countries a great degree of freedom in the choice of exchange rate system, so there are various exchange rate systems, such as single floating, PEG floating, flexible floating, joint floating and so on

the currencies of developed countries such as the United States, the United Kingdom, Germany and Japan have been floating freely

most countries can choose freely among currency board system, fixed exchange rate system, floating exchange rate system, adjustable fixed exchange rate system and managed floating exchange rate system according to their own national conditions

after the Latin American and European currency crises, the number of countries implementing soft peg is decreasing, while the number of countries implementing hard peg and floating exchange rate is increasing

this trend is particularly obvious in developed countries, mainly because the countries that used to implement soft pegging and floating exchange rate have become hard pegging after entering the euro area. Emerging markets and other developing countries still have the majority of soft pegs and floating exchange rates

2. Monetary system is the structure and organizational form of money circulation determined by the state in the form of law< The contents of monetary system generally include: (1) to stipulate monetary materials, that is, to determine which commodities can be used as monetary materials< (2) to specify the monetary unit, that is, to specify the name of the monetary unit and the "value" of the monetary unit< (3) stipulate the main currency and secondary currency: the main currency is the basic currency in circulation in a country, and the secondary currency is the small denomination currency below the main currency unit< (4) free casting and restricted casting, that is, the stipulation of currency casting right under the circulation of metal currency< (5) limited legal compensation and unlimited legal compensation, that is, the law stipulates how much money can pay< (6) preparation system<

there are mainly the following monetary systems:

silver single standard system is a monetary system with silver as the standard currency and has a long history<

the gold and silver compound currency system is a monetary system in which the gold and silver coins are legally regarded as the standard currency at the same time

the gold standard is a monetary system with gold as the standard currency, including the gold standard system, the gold nugget standard system and the gold exchange standard system< (1) gold coin standard system: gold coin can be cast freely; Subsidiary currency and bank notes can be freely converted into gold coins, and gold can be freely exported into the country. Gold standard system: it is a relatively stable monetary system, which has played a promoting role in the development of capitalism. However, with the development of capitalism, the stability of gold standard system has been destroyed< (2) gold standard and gold exchange standard are incomplete and unstable monetary systems

the Bretton Woods system is a capitalist monetary system centered on the US dollar<

the unfulfilled credit currency system is a monetary system without metal standard currency, which takes the unfulfilled credit currency as the legal compensation currency

China's monetary system is the RMB system. The RMB system belongs to the non cash credit currency system, which is managed and regulated by the people's Bank of China in accordance with the law.
3.

Monetary system refers to the system and order composed of various currencies (coins, paper money, deposit money) according to the equivalence relationship, which is generally determined by the state in the form of law

The monetary system includes the following four aspects

(1) monetary material

monetary material refers to the material used as monetary (base currency) material according to the law

Monetary material is the basis of the whole monetary system

in the metal currency system, different metals are used as monetary materials to form different monetary standards

for example, if silver is used as currency material, the monetary standard is the silver standard; The gold standard is defined as the gold standard; It is determined that gold and silver should be used as currency materials at the same time, and the currency standard is the gold and silver compound system

it is worth mentioning that under the current non cash credit currency system, there is no monetary material in the laws of all countries

(2) monetary unit

monetary unit, which specifies the name and value of monetary unit

the name of the monetary unit is the name of the monetary unit. For example, the monetary unit of the United Kingdom is named "pound", and the monetary unit of the United States is named "Yuan"

The value of monetary unit refers to the weight and fineness of monetary metal contained in monetary unit

in the metal currency system, the most important thing to determine the value of monetary unit is to determine the gold content of monetary unit; When gold is not monetized, it is mainly manifested in determining or maintaining the price ratio of domestic currency and other currencies, that is, the exchange rate

(3) the stipulation, casting and solvency of standard currency and subsidiary currency

The state determines the value of its own standard currency in the form of law, endows it with the ability of forced circulation in the market, and takes it as the unit of measurement for commodity, labor exchange, debt repayment and accounting

under the metal currency system, the standard currency is the full value currency, that is, its nominal value (denomination) is consistent with its actual value (metal value)

the standard currency is not only made by the state according to the monetary unit, but also can be made by citizens freely. Every citizen has the right to send the monetary metal to the national mint to request to be made into standard currency, and its quantity is not limited

the standard currency has unlimited legal compensation, that is, it has unlimited legal capacity to pay. No matter how much it is paid, no one can refuse to accept it

at the same time, the standard currency is also the last payment tool for all transactions. For transactions in the market, the standard currency is the last payment tool, and no one can ask to pay in other currencies

the secondary currency, that is, the secondary currency, is a small amount of currency below the main currency

generally, it is made of base metal, which is not worth money

The nominal value (denomination) of the coins is higher than the actual value (metal value), and the coinage of the coins will get part of the coinage income. Therefore, the coinage system of the coins is limited, that is, the coins can only be made by the state, and citizens are not allowed to make them freely

this kind of currency is issued for the convenience of circulation and payment. For this purpose, the secondary currency is mostly compensated by limited law in many countries in the world. In a transaction, if the secondary currency exceeds the amount stipulated by law, the seller or creditor can refuse to accept it

(4) money issue preparation system

money issue preparation system refers to the preparation of issuing money with some metal or some kinds of assets

under the metal currency system, the precious metal stipulated by law is used as the preparation for currency issuance

nowadays, all countries in the world implement the non cash credit currency circulation system. Under the non cash credit currency circulation system, the issuance preparation system of all countries has been decoupled from precious metals. Most countries use foreign exchange assets as preparation, some countries use materials as preparation, and some countries adopt the way of directly linking with the currency of a certain country, such as pegging to the US dollar, and other countries adopt the method of directly linking with the currency of a certain country Pounds and so on

There are also differences in the proportion of reserve and reserve assets among different countries. At present, the composition of currency issuance reserve generally includes cash reserve and securities reserve

cash reserves include liquid assets such as gold and foreign exchange, while securities reserves include short-term commercial paper, short-term treasury bill and government bonds

4. The national monetary system is a system formed by a country's Government stipulating the relevant elements of its currency, the organization and regulation of currency circulation in the form of laws and regulations. The national monetary system is mainly divided into two types: metal monetary system and non cash credit monetary system< The content of national monetary system can be grasped from the following two aspects:
first of all, the basic framework of these two types of monetary system is the same, and they both contain the following basic contents:
(1) monetary materials. That is to say, it is the first step for a country to set up a monetary system to stipulate what kind of goods should be used as monetary materials and to determine which kind of goods should be used as monetary materials
(2) specify the monetary unit. Monetary unit refers to the monetary measurement unit stipulated in the monetary system. There are mainly two aspects in the stipulation of monetary unit: one is to stipulate the name of monetary unit, the other is to determine the "value" of monetary unit
(3) specify the types of currency in circulation. The types of currency in circulation mainly refer to the main currency and subsidiary currency. The main currency is the standard currency, which is the basic currency in the circulation of a country. It is generally used as the legal price standard of the country. Generally, there is only one main currency in a country. Secondary currency is a small denomination currency below the standard currency unit
(4) specify the legal payment and repayment ability of currency. That is to say, whether money is unlimited or limited
(5) stipulate the circulation procere of currency casting and issuing. That is to say, whether the currency is cast freely or restricted, whether it is distributed separately or monopolized centrally. The main purpose of these regulations is to ensure that the amount of money in circulation maintains an appropriate scale
(6) the provisions of the currency issue preparation system. The reserve system of currency issue refers to that the central bank should use some kind of metal or some kinds of assets as the reserve for currency issue, so as to establish the relationship between currency issue and some kind of metal or some kinds of assets.
5. No wonder some people complain that opening a government is the best business in the world. But complaining is complaining. Either you make a revolution, or the Americans support you (the Americans are looking for "armed" and "democratic" people who oppose the government they don't like all over the world). Otherwise, starting a government is a coup and will be suppressed. Generally speaking, the monetary system regulated by the best transaction generally includes the following contents:
(1) monetary materials are regulated
whether it is physical money, metal money, paper money or electronic money that can't even be seen. The government regulates who is money and who is money. It's a bit like saying you can do it or not, saying you can't do it or not. Money material is to define the nature of money material. Different money materials will form different money systems. Of course, what kind of goods can be used as monetary material is not necessarily designated by the state at will, but the objective reality that has been formed is confirmed in law<
what is the first opportunity? Creating objective reality is the first opportunity.
sometimes, it's better to create objective reality than to have time to reason. At present, all countries implement the credit currency system of non cash, and no longer make clear provisions on monetary materials. If you think paper is also a kind of material, then monetary materials are paper
(2) defined monetary unit
monetary unit is the unit of measurement of money itself, which includes two aspects: one is to specify the name of monetary unit, the other is to specify the value of monetary unit. We usually hear the American Dao (borrow the name of "let the bullet fly"), pound sterling; In history, the franc, Deutschmark, etc., including the somewhat bizarre baht, ringgit, shield, etc., are the names of the currency itself. Under the condition of metal monetary system, the value of monetary unit is usually the weight and fineness of monetary metal contained in each monetary unit. In the case of credit currency not completely separated from metal monetary system, the value of monetary unit is sometimes the gold content of each monetary unit. After the non monetization of gold, what is the value of monetary unit? It may be a puzzle,
(3) prescribing the main currency and secondary currency
prescribing the types of currency in circulation mainly refers to prescribing the main currency and secondary currency. The main currency is a country's basic currency and legal price standard, and the secondary currency is the equal part of the main currency. It is a small denomination currency, which is mainly used for small transaction payment. Under the metal currency system, the main currency is the currency which is made of the monetary materials and the monetary units stipulated by the state, while the subsidiary currency is made of base metal and monopolized by the state. Under the credit currency system, the issuing rights of the main currency and the subsidiary currency are concentrated in the central bank or the government designated institutions. With the decline of currency purchasing power, small denomination currencies will graally withdraw. Now, the fractional currency in the RMB may have been rarely used. However, it is only a matter of time before the introction of five hundred yuan and one thousand yuan denomination currencies. It is said that five hundred yuan and one thousand yuan denomination currencies have already been printed, but they have not been introced because of the people's psychological enrance, I tend to think that it's a rumor that the Chinese people are the strongest, and they don't even have the psychological enrance
I'm ready for RMB 10000< (4) the legal solvency of money is divided into unlimited legal compensation and limited legal compensation. Unlimited legal compensation means that no matter what kind of payment, no matter how large the amount of payment, the other party can not refuse to accept it; Limited legal compensation means that there is a legal payment limit in a payment. If it exceeds the limit, the other party can refuse to accept it. Under the metal currency system, generally speaking, the main currency has unlimited legal compensation capacity, while the subsidiary currency has limited legal compensation capacity. Under the credit currency system, the state's provisions on the payment capacity of various currency forms are not very clear and absolute< The circulation procere of currency casting and issuing is mainly divided into free casting and restricted casting of metal currency, decentralized issuing of credit currency and centralized monopoly issuing. Free casting means that citizens have the right to use the currency materials stipulated by the state to cast coins in the National Mint according to the currency units stipulated by the state. Generally speaking, the main coin can be cast freely; Restricted casting means that it can only be made by the state, and the subsidiary coin is restricted. The decentralized issuance of credit currency means that commercial banks can issue credit currency independently. In the early days, credit currency was distributed. At present, the issuance right of credit currency in various countries is mostly concentrated in the central bank or designated institutions. There are also exceptions. Hong Kong dollar is still issued by several banks separately. HSBC, Standard Chartered and Bank of China all have the right to issue currency< (6) the system of reserve for currency issuance is formulated to restrict the scale of currency issuance and maintain currency credit, which requires currency issuers to use certain metals or assets as reserve for currency issuance. Under the metal currency system, the precious metal stipulated by law is used as the reserve for currency issuance. Under the modern credit currency system, the contents of the reserve for currency issuance in various countries are relatively complex, generally including cash reserve and securities reserve< The issue preparation system is an important part of the currency issue system.
the unprepared currency is just like the unprepared person.
when the legal solvency no longer works, the difference between paper money and waste paper is no longer obvious
one of the reasons for Chiang Kai Shek's failure and his departure from the mainland is the devaluation of banknotes.
6.

Monetary system editor

overview monetary system, also known as monetary system, is a form of currency circulation structure and organization determined by a government in the form of law. The typical monetary system includes monetary material and monetary unit; The casting, issuing and circulation of currency; The preparation system of currency issue. The concept of monetary system also refers to the international monetary system, that is, the organizational form of international currency circulation. In order to solve the needs of international monetary problems such as monetary system in international trade, international means of payment in international settlement, international reserve assets and so on, all countries are concerned with all aspects of international monetary circulation, including currency exchange and exchange rate setting, balance of payments adjustment, international settlement system, international reserve system, international monetary relations, international financial market, etc, A set of systematic principles, regulations, methods and institutions spontaneously or through negotiation and adjustment within the international scope will form the international monetary system. The original international monetary system the international gold standard monetary system was formed spontaneously from 1870s to the beginning of the 20th century to meet the needs of international economic relations at that time and the reality of domestic monetary systems in various countries. After the first World War, especially ring the global economic crisis in 1930s, it graally disintegrated and split into several currency groups. After the Second World War, the international monetary system centered on the US dollar was formed in western countries, and graally disintegrated e to the weakening status of the US dollar after the 1970s. The reform of the international monetary system and the establishment of a new and reasonable international monetary system have become the focus of world attention. One of the basic conditions of monetary system is to have definite monetary materials. Many countries in the world have used metal as monetary material for a long time, so it is the first step to establish monetary system to determine which metal should be used as monetary material. The specific choice of metal as monetary material is restricted by objective economic development conditions and resource endowment. Monetary unit 2. Monetary unit is also one of the constituent elements of monetary system. Under the specific political background, monetary unit is the name of money stipulated by the state. Under the condition of monetary metal, it is necessary to determine the name of monetary unit and the amount of monetary metal contained in each monetary unit. If the monetary unit and its equal division are stipulated, there will be a unified price standard, so that money can play a more accurate role in pricing and circulation. Nowadays, credit currency is in circulation all over the world. The determination of the value of monetary unit is directly related to how to maintain the price ratio between domestic currency and foreign currency. The casting, issuing and circulation of currency 1. The currency (currency) that will enter the circulation field can distinguish the standard currency and the subsidiary currency. The standard currency is a coin made according to the national monetary unit, also known as the main currency. Secondary currency is a small amount of currency below the main currency, which is used for daily sporadic transactions and change. Countries that allow the free casting and melting of standard currency are not allowed to put into circulation the standard currency whose wear and tear exceeds the weight tolerance in circulation, but they can exchange new currency with the institutions designated by the government, that is, over tolerance exchange. 3. The subsidiary currency is usually made of base metal, the actual value of which is lower than the nominal value, but it is stipulated within a certain limit by law. The secondary currency has limited legal compensation, but it can be freely exchanged with the main currency. The coinage income is an important source of national financial revenue. Under the condition of contemporary paper money, the secondary currency and the primary currency made of base metal are often marked with the name of the country or can reflect the authority of the country. However, compared with the metal currency system in which the issuing right of the primary currency and the secondary currency was granted to different departments, it is more symbolic. 4. Banknotes and banknotes are the procts of precious metal reserves and the corresponding gold and silver currency can not meet the needs of the development and expansion of commodity economy. Banknotes are credit currency issued by banks and based on commercial credit. The premise and background of early banknotes circulation was that the holder could exchange metal currency with the issuing bank at any time. After the worldwide economic crisis from 1929 to 1933, the bank notes issued by the central banks of western countries stopped cashing, and their circulation no longer depended on bank credit, but on the force of the state power, so that the bank notes were converted into paper money. There are two kinds of money issuing preparation system: one is that under the condition of simultaneous circulation of metal currency and bank notes, in order to avoid excessive issuance of bank notes, and to ensure the reputation of bank notes, The issuing institution shall maintain a certain amount of gold and foreign exchange assets according to the actual scale of banknotes; Another situation is that under the condition of paper currency circulation, the financial institutions (central bank or commercial bank) issuing paper currency maintain a certain scale of gold and foreign exchange assets. Issuing monetary institutions holding gold according to certain requirements and rules is the gold reserve system, which is an important part of the monetary system and the basis of a country's monetary stability. Most countries' gold reserves are managed by the central bank or the Ministry of finance. Under the condition of metal currency circulation, gold reserves are mainly used for three purposes: first, as a reserve for international means of payment, that is, as a reserve for world currency; Second, as a reserve for domestic metal circulation that sometimes expands and sometimes shrinks; Third, as a reserve for payment of deposits and exchange of bank notes. In the contemporary world, when there is no metal currency in circulation, paper money is no longer exchanged for gold, and the latter two uses of gold reserves have disappeared. However, the role of gold as a reserve for international payments still exists, and all countries reserve a certain amount of gold as a reserve. In order to ensure sufficient means of international payment, the central banks of all countries can not only hold gold, but also reserve foreign exchange assets. The specific choice of foreign exchange assets depends on the acceptability of the foreign currency corresponding to the foreign exchange assets as the means of international payment, as well as the exchange rate changes in the international financial market and various uncertain factors. Due to the exchange rate risk, the central bank should consider holding an appropriate portfolio of foreign exchange assets instead of a single foreign exchange asset. The editor of the legal solvency of money stipulates the monetary material, which is to specify the nature of the monetary material, and to determine different monetary materials will form different monetary systems. However, which kind of goods can be used as monetary materials is not designated by the state at will, but is a legal affirmation of the objective reality that has been formed. That is to say, according to the reality, which kind of material should be used as the base currency is determined by the law. This kind of regulation is actually the objective requirement of the development of commodity economy, and is determined by the level of proction and the degree of development. Historically, it has experienced a process from silver standard system, gold and silver plicate system, to gold standard system, and then to non cash standard system< At present, all countries implement the non cash credit monetary system, and no longer make clear provisions on monetary materials. The monetary unit is defined as the unit of measurement of money itself, which includes two aspects: the name of monetary unit and the value of monetary unit. Under the condition of metal currency system, the value of monetary unit is the weight and fineness of monetary metal contained in each monetary unit; Under the condition that the credit currency is not separated from the metal currency system, the value of monetary unit is the gold content of each monetary unit; After the non monetization of gold, the value of monetary unit is determined by the exchange rate of local currency. The main currency is the basic currency and legal price standard of a country, and the secondary currency is the equal part of the main currency. It is a small denomination currency, which is mainly used for small transaction payment. Under the metal currency system, the main currency is the currency which is made of the currency materials and the currency units stipulated by the state, while the subsidiary currency is made of base metal and monopolized by the state; Under the credit currency system, the issuing rights of the main currency and the subsidiary currency are concentrated in the central bank or the government designated institutions. The ability to pay and repay stipulates the legal ability to pay and repay money. The legal ability to pay and repay money can be divided into unlimited legal compensation and limited legal compensation. Unlimited legal compensation means that no matter what kind of payment, no matter how large the amount of payment, the other party can not refuse to accept it; Limited legal compensation means that there is a legal payment limit in a payment. If it exceeds the limit, the other party can refuse to accept it. Under the metal currency system, generally speaking, the main currency has unlimited legal compensation capacity, while the subsidiary currency has limited legal compensation capacity. Under the credit currency system, the state's provisions on the payment capacity of various currency forms are not very clear and absolute. The circulation procere stipulates the circulation procere of currency casting and issuing. The circulation procere of currency casting and issuing mainly includes free casting and restricted casting of metal currency, decentralized issuing and centralized monopoly issuing of credit currency. Free casting means that citizens have the right to use the currency materials stipulated by the state to cast coins in the National Mint according to the currency units stipulated by the state. Generally speaking, the main coin can be cast freely; Restricted casting means that it can only be made by the state, and the subsidiary coin is restricted. The decentralized issuance of credit currency means that all commercial banks can issue credit currency independently. In the early stage, credit currency was distributed, and the issuance right of credit currency in all countries was concentrated in the central bank or designated institutions. The system of currency issuance preparation is formulated to restrict the scale of currency issuance and maintain currency credit, which requires that the currency issuers should use certain metals or assets as the issuance preparation when issuing currency. That is to say, the central bank or the government should reserve certain precious metals and foreign exchange in order to ensure the stability of currency. After the 1930s, countries graally abolished the gold standard. After the Second World War, capitalist countries generally adopted the gold exchange standard system with us dollar as the main reserve currency. At present, countries all over the world are practicing the non cash credit monetary system, namely the non cash standard system. Under the metal currency system, the precious metal stipulated by law is used as the preparation for currency issuance. Under the modern credit currency system, the content of the currency issue preparation system in various countries is relatively complex, which generally includes two categories: cash preparation and securities preparation. 5. According to the evolution classification, the monetary system that has appeared in history can be divided into two categories, namely, the metal standard and the paper currency standard. Gold standard

monetary system

gold standard refers to the monetary system with gold as the base currency. Its main forms are gold coin standard system, gold nugget standard system and gold exchange standard system. 1. Gold standard system gold standard system is a typical gold standard system with gold as monetary metal. Its main features are: gold coins can be cast and melted freely; The secondary currency and value symbols (such as bank notes) in circulation can be exchanged for gold coins freely; Gold can be freely exported and imported. In the implementation of the gold standard between countries, according to the gold content of the currencies of the two countries to calculate the exchange rate, known as the gold parity. 2. Nugget standard system nugget standard system refers to the monetary system in which paper money is issued by the central bank and prepared with nuggets. It differs from the gold standard system in that: first, the gold standard system is based on paper money or bank
7.

The monetary system is a system formed by the state's regulations on the relevant elements of money, the organization and management of money circulation. A perfect monetary system can ensure the stability of money and money circulation, and ensure the normal play of various functions of money

The main contents of monetary system are as follows:

1. To stipulate monetary materials is to stipulate the nature of monetary materials, and to determine different monetary materials will form different monetary systems. However, which kind of goods can be used as monetary materials is not designated by the state at will, but a legal affirmation of the objective reality that has been formed. At present, all countries implement the credit currency system of non cash, and no longer make clear provisions on monetary materials

The monetary unit is the unit of measurement of money itself, which includes two aspects: the name of monetary unit and the value of monetary unit. Under the condition of metal currency system, the value of monetary unit is the weight and fineness of monetary metal contained in each monetary unit

the value of monetary unit is the gold content of each monetary unit when credit currency is not separated from the metal monetary system; After the non monetization of gold, the value of monetary unit is determined by the exchange rate of local currency

The main currency is the basic currency and legal price standard of a country, and the secondary currency is the equal part of the main currency, which is small denomination currency and mainly used for small transaction payment

under the metal currency system, the main currency is the currency which is made of the currency materials and currency units stipulated by the state, and the subsidiary currency is made of base metal and monopolized by the state; Under the credit currency system, the issuing rights of the main currency and the subsidiary currency are concentrated in the central bank or the government designated institutions

The legal payment and repayment ability of money is divided into unlimited legal compensation and limited legal compensation. Unlimited legal compensation means that no matter what kind of payment, no matter how large the amount of payment, the other party can not refuse to accept it; Limited legal compensation means that there is a legal payment limit in a payment. If it exceeds the limit, the other party can refuse to accept it

under the metal currency system, generally speaking, the main currency has unlimited legal compensation capacity, while the subsidiary currency has limited legal compensation capacity. Under the credit currency system, the provisions of the state on the payment capacity of various currency forms are not very clear and absolute

The circulation procere of currency casting and issuing is divided into free casting and restricted casting of metal currency, decentralized issuing of credit currency and centralized monopoly issuing. Free casting means that citizens have the right to use the currency materials stipulated by the state to cast coins in the National Mint according to the currency units stipulated by the state. Generally speaking, the main coin can be cast freely

restricted coinage means that it can only be made by the state, and subsidiary coins are restricted coinage. The decentralized issuance of credit currency means that commercial banks can issue credit currency independently. In the early days, credit currency was distributed. At present, the issuance right of credit currency in various countries is concentrated in the central bank or designated institutions

The system of preparation for currency issuance is formulated to restrict the scale of currency issuance and maintain currency credit, which requires currency issuers to use certain metals or assets as preparation for currency issuance

under the metal currency system, the precious metal stipulated by law is used as the reserve for currency issuance. Under the modern credit currency system, the contents of the reserve for currency issuance in various countries are relatively complex, generally including cash reserve and securities reserve

extended data:

the content of the international monetary system

the international monetary system generally includes three aspects:

1, the determination of international reserve assets; 2

2. The arrangement of exchange rate system

3. The way of balance of payments adjustment

The international monetary system is a set of rules governing the monetary relations of various countries and a set of arrangements and conventions on which international transactions and payments are based. The ideal international monetary system can promote the development of international trade and international economic activities,

maintain the stability of the international monetary order, provide sufficient international solvency and maintain the confidence of international reserve assets, and ensure the effective and stable adjustment of the balance of payments imbalance. So far, the international monetary system has experienced the evolution from the international gold standard to the Bretton Woods system and then to the Jamaica system

8. The monetary system is a system formed by the state's regulations on the relevant elements of money, the organization and management of money circulation. A perfect monetary system can ensure the stability of money and money circulation, and ensure the normal play of various functions of money. According to the scope of monetary system, monetary system includes national monetary system, international monetary system and regional monetary system; According to the different characteristics of money, monetary system can be divided into metal monetary system and non cash credit monetary system

monetary system also refers to the international monetary system, that is, the organizational form of international currency circulation. In order to solve the needs of international monetary problems such as international trade monetary system, international means of payment in international settlement, international reserve assets and so on, all countries are concerned with all aspects of international monetary circulation, including currency exchange and exchange rate setting, balance of payments adjustment, international settlement system, international reserve system, international monetary relations, international financial market, etc, A set of systematic principles, regulations, methods and institutions spontaneously or through negotiation and adjustment within the international scope will form the international monetary system. The original international monetary system the international gold standard monetary system was formed spontaneously from 1870s to the beginning of the 20th century to meet the needs of international economic relations at that time and the reality of domestic monetary systems in various countries. After the first World War, especially ring the global economic crisis in 1930s, it graally disintegrated and split into several currency groups. After the Second World War, the international monetary system centered on the US dollar was formed in western countries, and graally disintegrated e to the weakening status of the US dollar after the 1970s. The reform of the international monetary system and the establishment of a new and reasonable international monetary system have become the focus of world attention.
9.

There are four different monetary systems in the history of monetary system development. According to the time order, they are silver standard system, gold and silver plicate system, gold standard system and non cash credit monetary system

Silver standard is a monetary system with silver as the standard currency, which is the earliest monetary system in history and has been implemented for the longest time

the silver standard is based on the weight of silver as the price standard; The standard of silver coin is that the state stipulates that silver is a kind of monetary metal and requires it to be cast into silver coins of certain shape, weight and fineness. Silver coins can be freely cast and melted

(2) gold and silver plicate system refers to the monetary system in which gold and silver are used as the standard currency at the same time

with the development of commodity monetary economy, the demand for gold and silver in commodities has increased. Silver is mainly used for small transactions, while gold is used for large transactions, forming a situation in which both silver and gold are used as the main currency

at this time, gold and silver coins can be freely minted, exported and imported, which is a monetary system with unlimited legal compensation

There are three forms of the system: (1) "parallel standard system", that is, gold and silver are respectively circulated according to their actual value 2) "Double standard system" means that gold and silver are respectively circulated according to the price ratio stipulated by the state 3) "Lame standard system" is a kind of monetary system in which gold and silver double standard system transits to gold standard system

The gold and silver system is an unstable monetary system

First of all, money, as a general equivalent, is exclusive and exclusive, because there can only be one measure of value, and it is contradictory to the nature of money that gold and silver are value measures at the same time; Secondly, under the plicate system, there will be two kinds of prices for a commodity, and these two kinds of prices will inevitably change with the change of the price comparison in the gold and silver market, thus causing price disorder. In order to change this chaotic situation, the government regulates the price comparison of gold and silver in the form of law. However, when there is a contradiction between the provisions of the national legal system and the triggering effect of the law of value, There is a phenomenon that "bad money drives out good money", that is, "Gresham's law"

In this way, there is only one kind of coin in circulation, so the gold and silver compound currency system is an unstable monetary system

Hot content
Inn digger Publish: 2021-05-29 20:04:36 Views: 341
Purchase of virtual currency in trust contract dispute Publish: 2021-05-29 20:04:33 Views: 942
Blockchain trust machine Publish: 2021-05-29 20:04:26 Views: 720
Brief introduction of ant mine Publish: 2021-05-29 20:04:25 Views: 848
Will digital currency open in November Publish: 2021-05-29 19:56:16 Views: 861
Global digital currency asset exchange Publish: 2021-05-29 19:54:29 Views: 603
Mining chip machine S11 Publish: 2021-05-29 19:54:26 Views: 945
Ethereum algorithm Sha3 Publish: 2021-05-29 19:52:40 Views: 643
Talking about blockchain is not reliable Publish: 2021-05-29 19:52:26 Views: 754
Mining machine node query Publish: 2021-05-29 19:36:37 Views: 750