Banknote

The Ascent of Money Niall Ferguson clearly illustrates the importance of money in the world’s history. Ferguson even goes back to the days of the Incas. He gives prime reasoning as to why money issues may have begun in the first place. Ferguson states that during the time of the Incas they were the first people having to deal with money. Unlike today’s day and era, green paper money was not the type of money being dealt during this time. Silver was the cherished income of this time. Europeans were the first to show interest towards the silver, making the Incas wonder since they were unaware of the fact that the silver could make money. The video emphasized the idea that money started as just a form of different things that were being traded among people in exchange for different things. The video paints a clear picture when Ferguson states “Money is only worth what people are willing to give for it” (DocuDeck. The Ascent of Money- Dreams). Between Niall Ferguson’s videos, “The Ascent of Money- Dreams of Avarice (Episode 1)” and “The Ascent of Money- Human Bondage (Episode 2),” there has many information given that directly relate with the information that were are being taught in our Macroeconomics class. From illustrating the different meanings of money to explaining how certain parts of the banking system works, Niall Ferguson does an amazing job of descriptively and interestingly emphasizing main points of the economic world. While watching the video “The Ascent of Money-…

Crisis In Greece The country of Greece is located in the southern part of Europe, on the eastern edge of the Mediterranean Sea. Greece joined the Eurozone expecting it to help the countries economic and financial power, but in the recent months the Eurozone and Greece have not been on very good terms. The Eurozone is comprised of 19 countries that all agreed on using the same currency, the euro. Greece is facing a debt that could completely bankrupt it, and if a deal is not made with the…

Did you ever think about inflation? Inflation is a continuous increase in the price of goods and services. It means people use the same unit of currency but buy fewer goods and services. In the other word, inflation reduces the purchasing power per unit of currency. Currency is the medium of exchange, including banknotes and coins. People use currency to buy goods and services. We can say, in almost all situations, the value of the currency as the medium of exchange is more than the value of the…

Methanol has been used as a solvent for cocaine extraction form banknotes2, 4, 9, 10. It was reported as a non-destructive method unlike other solvents like chlorinated solvents11 and acetonitrile1 as they were responsible for damage and partial destruction of the banknotes respectively. Various sources of contamination affect the banknotes through handling it such as sweat, dust and so on. Additionally, banknotes are contaminated by different sources of drugs like amphetamine, nicotine and…

During the antebellum period, differences in geography, climate, manufacturing activity, population density and some other variables resulted in various banking systems. According to those differences, the banking systems can be discussed by three regions: New England, Middle Atlantic, and South and West. The most highlighted characteristics of New England’s banks was their small size. Banks in New England were relatively small because small banks paid lower taxes per dollar of circulating…

period, the federal government was not printing paper money but instead issued gold and silver coins which were at the moment referred to as specie. The Second Bank as well as state banks issued banknotes to depositor and borrowers. The banknotes had the name of the affiliate bank on them and could be redeemed in specie- that is, someone could exchange the banknotes at the bank and in return receive silver coins or gold coins. Such banknotes only served as paper money. Majority of the people…

This all started when the state of Maryland placed a tax on the banknotes of the second bank in the United States. One of the cashiers ,James McCulloch, of the bank branch appealed to the supreme court. This certain bank happened to be the only bank that was uncharted. Which means there was a heavy tax laid on it. John Marshall declared the vote to the court. Marshall stated that the law says that the bank was a lawful instrument of specific federal authority, the tax was constitutional. The…

The Yellow Brick Road is the path that leads to Emerald City, the heart of Oz. This represented the financial golden standard that led the way to the political and financial center of Oz. The reason why I think the Yellow Brick Road was yellow is because yellow is a bright colour, which is most likely why it led to Emerald City, because it is also a very bright and beautiful city. The definition of gold standard is the best, most reliable, or most prestigious thing of its type. This makes sense…

Background: The origins of the Canadian currency come from all across the globe. Like many nations before it the history of their monetary system starts with its native peoples. The Native Canadians traded with each other using precious metals, pelts, and crafted supplies ( beads and pottery) for hundreds of years, but all of that changed after the French explorers were introduced. In the mid 1600’s (when the french officially declared Canada as a provenance called “New France”) is when this…

through its function. These are maintaining full employment, stability of the currency, and the welfare and economic prosperity of the people of Australia. Through creation of economic incentive, the RBA keeps the Australian economy stable and prevent ‘overheating’. This means preventing inflation, when there is overproduce and excess production capacity. Inflation was also the main cause of the Great Depression in the early 20th century. Other than these objectives, the Reserve bank also…