Reave Hosman
Jim Bukre
English ⅞ Burlingame High School
March 15th 2015
Define: Currency
Currency: cur·ren·cy /ˈkərənsē/ noun a system of money in general use in a particular country.
Introduction:
Money and Currency have always been a widely discussed topic, it is believed that if you understand the economy you can have anything you could ever wish for, for this reason research into my topic has been interesting. There is an abundance of information on the topic, and many sources contain individual opinions which I believe are invaluable for research such as this because it provides a perspective I would have otherwise not seen. It is widely accepted that Currency “consists only of an agreement within a community to use something as a medium exchange” and that a community no longer refers to a few hundred in a town but a few billion all spread out across the globe. Although the means in which we pay for things change as time moves on, the very nature of Currency stays the same.
When discussing currency the first thought that comes to mind is cold hard cash, the very form of money that fuels our everyday lives. However, the very nature of the dollar is something beyond the scope of a simple definition, to fully understand currency we must start at a simpler level; that simple level being a LET System. A local exchange trading system; abbreviated to LETS or LETSystem is a locally initiated, democratically organised, not-for-profit community enterprise that
An international banking cartel led largely by House Rothschild, has taken control of virtually every countries money supply and installed a fiat currency that they own. This process is not a fast one. It is not measured in month, years, and decades but, instead, by generations.
Life: Where do we come from? How did we get here? These are questions each one of us eventually asks ourselves and, in so doing, searches for the answers. It is intrinsically woven into us to know the basis of what sustains us. Why is it then, that the general public is satisfied in knowing only about current celebrity gossip and is content to remain ignorant when it comes to where our currency originates and how it is produced? Some may find it too confusing and overwhelming a subject about which to think. Is it possible that its perplexity is not by mistake? James Corbett mentions in his documentary, Century of Enslavement: The History of The Federal Reserve, “Our monetary ignorance is artificial, a smokescreen that has been erected on purpose and perpetuated with the help of complicated systems and insufferable economic jargon.” (Corbett, J., 2014, July 6.https://www.youtube.com/watch?v=5IJeemTQ7Vk)
Everyone in the country will be residing in what is called “Local Nations”. These Local Nations are set by the citizen’s income levels. So, citizens with lower income levels will be in different Local Nations than citizens who have higher income levels. Currency itself is natural resources. These Natural resources can be food, water, electricity, or anything else that aids survival. In order to get this type of resources or income, people have to fight and compete for them. This can be done in several ways. Cabinet members can get the
Money is the crux of society. Without it, anarchy would break out. Bargaining would fail as people would claim the trade wasn’t fair, thievery would explode across the globe, lazy people would do nothing, and people wouldn’t have motivation to do anything but help their own family and selves. Yet, while everyone knows money is important, is ALL money important? For centuries, the penny has been part of American currency. And back in the day, it served a great purpose. Pennies could buy candies, breads, and many other things all on their own. But as time has changed, so has the value of the penny. As costs went up, the value of the penny went down. And with its lesser value, some people wonder if it’s even worth it to keep the penny around. But the answer to that little puzzle is as easily seen as a jigsaw meant for four years olds is put together. The penny must be kept.
Money has been been a big central network in developing our country today. Back then people used to barter items with others, so they could get different things they may need things like corn, fish, wheat, and etc. Salt was another commodity money salt was very difficult to obtain mainly in the inner countries and it is very good to cook with because it adds flavor to your food. In the south people became so wealthy because they didn't use money either there was a system called “Mit’a” from the age of 15 young Incan males had to do physical labor to state of a set of days. They built public buildings and places in return the government all the basic necessities of life food, clothing, tools, housing and, etc. The first known currency
In a world governed by the rule of currency has a major effect toward the amount an individual owns. The current world economy, labor is required in order to supply services to whomever is willing to buy. The amount of money distributed and earned throughout the economy feeds the nation 's GDP, which shows the stability of the overall economy of that nation. There is an imaginary sequence that must be established in an economy in order to balance both labor and revenue to stabilize a country’s economy.
Out west thousands of ordinary shop keepers, millers, farmers and other business owners cannot get the currency and the loans they need to run their concerns. How do you develop and grow the economy of a new state without currency, or worse yet, with paper currency of dubious worth? I say let us do away with all paper money, I do not trust it. Gold and Silver coin have intrinsic and eternal value, paper does not. We should also rely on our local and state banks, run by the people who live in and understand our communities, to control the currency needed for commerce, not some faceless, monopolistic national bank.
Money is the life force of all of society. In every aspect, money determines the value of good, services, and even people’s lives. As we breathe air to function, society relies on finances to function. And if society, the unity of humanity, relies on money, than the leaders of society want to limit and control it to withhold their power over humanity. They do this by limiting what can be bought and sold, while also controlling how much different things cost. These limitations allow our leaders to control our money and, through that, our value and influence to society.
It is correct in thinking that a government prints and authorizes the use of legal tender, its currency. But that is the literal production of money, not the intricate process that occurs within the financial system. Dietz’s example of banks illustrates this perfectly; a bank can “make” money by charging interest on a loan. If a bank only has one thousand in reserve and loans it all to an individual with interest, they make a thousand dollars and some change. No work was actually done to raise this money, and no money was printed to remedy this sum. Now imagine this process taking place on a global scale, billions upon billions are seemingly being conjured out of air. This results in a massive amount of back credit and debt on the part of individuals and banks to account for the overproduction. But what happens if the debt fails to increase? Markets tend to crash, leading many to believe that in order to prevent a futile economic environment, the system must be maintained if it wants to grow. Dietz does a good job of tying in how this notion not only ruins the economy in the long run, but has immediate impacts on the environment and biosphere as
The primitive monetary instruments had a profoundly dynamic assistant nature, had no inborn quality. Their operation did not suggest the utilization of any particular item, but rather just the reference to a theoretical money related unit. Regardless of the possibility that the unique money related unit were symbolized by a given particular stock, this stock never took an interest in the operations, since what was implied was to make a conceptual reference to its worth, and not to trade different merchandise for it. Hence, currency was not, subsequently, created by a flash of brilliance, but rather originated from a need, and its development has reflected, at every time, the readiness of man to orchestrate its currency features to the reality of its economy. Perhaps even more importantly, invention of currency was the mother step in a new monetary system that has led to the birth of electronic banking and credit cards. To infer, pretty much as human advancement from viciousness to development has relied on upon the invention of currency, future advancement will rely on another definition and utilization of
Our society is in a downhill spiral. There is no liberty, no equality and there is no physical value of money. We live in a world in which prison companies and children’s hospitals are traded publicly on the stock market. Virtual currency is the only thing that these corporations strongly care about. There are no boundaries when profits are in concern. We live in a society that is dominated by the attraction of money. Greed is the characteristic that is pervasive, not generosity or compassion. People are encouraged to be selfish, not charitable. The idea and function of governments will only change if people’s minds alter first.
Money has different meaning for different level of people. Some see money as food, shelter or a roof on their top, however it means pleasure and enjoyment for wealthy group of society. Money has an essential role in shaping societies, it enables the economy to grow and helps people to have better health and education. Furthermore, money has direct relation to inequality. Inequality acers when the wealth is unevenly distributed within the society, in other words the unequal distribution of resources among the people, such as money, education, time and so on. The relationship between money and inequality could be further explained from the findings of Michael Sandel’s argument, money in the form of debt in china, distribution, exchange and consumption of coffee.
We take the position that digital currencies are a fad. As argument, we try to clarify the definition of currency in general and explain what a "digital currency" really mean. Than we examine the arguments for the digital currencies and at the end we present the evidences of perils of digital currency.
In the present day, the world's economy is ever-changing and adjusting. Many different reasons control the reasons for this. The future of currency is something that can only be predicted and is not guaranteed. However, there are many determing factors behind the changes that can take place. Asia and North America are two continents that have economies that have recently changed or are in the midst of change.
1. The gold standard and the money supply. Under the gold standard all national governments promised to follow the “rules of the game”. This meant defending a fixed exchange rate. What did this promise imply about a country’s money supply? A country’s money supply was limited to the amount of gold held by its central bank or treasury. For example, if a country had 1,000,000 ounces of gold and its fixed rate of exchange was 100 local currency units per ounce of gold, that country could have 100,000,000 local currency units outstanding. Any change in its holdings of