Currency

measured the value of one country’s national currency per an ounce of gold, to the value of the other participating countries’, which made it possible to create the exchange rates between the currencies. This allowed for a common reference point for prices across countries, and there was no need to negotiate currency values or payments as part of trade. During the gold standard, the value of currencies was fixed. Nations agreed to limit the amount of currency they would issue, to the amount…

choose what they want to buy from any seller or to choose not to buy anything unless it is absolutely necessary. Certain money is better than other types of money, in the early days of the United States, we had a gold backed currency. While other nations don’t and their currency is weaker than other nations. Money is the most important commodity because, it allows for greater flexible in exchanges for individuals, it cuts down the knowledge barrier needed to make exchanges, and allows for…

popular limiting the use of change and even cash, pennies are an additional burden that the US does not need to be carrying. The penny has been used in the United States of America’s currency system for too many years now and it is finally time for a change. Pennies, as we all know, are extremely small increments of currency that can pay for very few things in today’s society. Many years ago, our older family members were able to buy things for small amounts of money which was one of the main…

There are risks in international trade and transaction that any organisation may face, especially volatile exchange currency risk. The organisation should consider to control and manage the risks and capital for payments. In case the organisation has insufficient capital, they should consult the bank to borrow the money. Next, the organisation has to research and plan for the suitable payment method and expenditure phrasing that help the organisation to be able to keep the cash flow at maximum…

1. Is Europe an optimum currency area? While Europe all together is not an optimum currency area, the European Union is. This is because only the countries that make up the European Union share a single currency, the euro. This leads to greater economic benefit in the countries that make up the union than there is in one remaining an independent country. However, there are European countries that are not members of the European Union, such as Great Britain or Russia. These countries are not…

records to MP3’s and now, from paper money or physical currency… to virtual currency or otherwise known as Cryptocurrencies. Bitcoin, Litecoin and Dogecoin are a few popular virtual currency and are gaining tremendous amount of popularity and notoriety these days. This is without question, the face of a new emerging worldwide currency. People are looking for a safe, convenient and easy way to transact money without using cards or actual paper currency. Steady progress has been made by Bitcoin in…

Bitcoin: The Gold of the Internet Bitcoin is a decentralized digital currency that is created and held electronically [1]-[5]. It is like a combination of gold, dollar, and visa if they were to have a baby. Unlike traditional payment systems, Bitcoin has its own metric for value called a bitcoin [1]. It is classified as property versus currency according to the IRS [2]. The value of a bitcoin is determined mainly from its use for making payments in the Bitcoin system, and from the purpose of…

Dollarization is the replacement of a countries domestic currency with that of a foreign currency. Dollarization has occurred in several countries including, but not limited to, Panama, El Salvador, and Ecuador. For countries with volatile currencies, dollarization offers them the ability to stabilize their economy. While dollarization has its pros, it is not without its cons, and for Ecuador, this is no exception. In my initial discussion, I believed that dollarization was a positive move for…

Background Introduction Cryptocurrencies are a digital form of exchange that use encryption to secure the processes involved in conducting transactions. They are a subset of digital currencies having no physical representation. Unlike other forms of currency that are backed by a central bank, cryptocurrencies operate as a a completely decentralized system meaning there is no governing body verifying transactions. Cryptocurrencies consist of more than just Bitcoin. It 's structure is followed by…

MEMORANDUM Subject: The current global manufacturing positon of the Caterpillar Corporation To: Board of Directors of the Caterpillar Corporation From: Jordan Hyatt, Corporate International Business Development Manager Date: November 28, 2016 ________________________________________ Executive Summary: There have been several questions from the Board of Directors of the Caterpillar Corporation regarding our current global manufacturing position. As you know we have had much success over…