query: what is the money currency in italy?

title: Currency board

text: Currency board A currency board is a monetary authority which is required to maintain a fixed exchange rate with a foreign currency. This policy objective requires the conventional objectives of a central bank to be subordinated to the exchange rate target. The main qualities of an orthodox currency board are: The currency board in question will no longer issue fiat money but instead will only issue one unit of local currency for each unit (or decided amount) of foreign currency it has in its vault (often a hard currency such as the U.S. dollar or the euro). The surplus on

title: Virtual currency law in the United States

text: exchanged for conventional currencies, such as the U.S. dollar, Euro, Yen, and Yuan. Therefore, Bitcoin is a currency or form of money, and investors wishing to invest in BTCST provided an investment of money." This decision paved the way for other regulators to treat Bitcoin and VCs as money, so it is likely this decision will be cited if regulators decide to prosecute VC transactions under the UIGEA, Illegal Gambling Business Act, Wire Act, or any other regulation involving financial transactions. On August 2014, the Consumer Financial Protection Bureau (CFPB) released a consumer advisory to warn consumers of the risk

title: Currency substitution

text: in a context of stable macroeconomic fundamentals and long-standing unofficial currency substitution. The eurozone adopted the euro (€) as its common currency and sole legal tender in 1999, which might be considered a variety of full-commitment regime similar to full currency substitution despite some evident differences from other currency substitutions. For more on dollarisation, cf. Fields, David, and Matías Vernengo. "Dollarization." The Wiley-Blackwell Encyclopedia of Globalization (2013). There are two common indicators of currency substitution. The first measure is the share of foreign currency deposits (FCD) in the domestic banking system in the broad money including FCD. The second is

title: Hard currency

text: Fiat money as legal tender in a process known as dollarization. Examples include the adoption of the US dollar in Panama, Ecuador, El Salvador and Zimbabwe and the adoption of the German mark and later the euro in Kosovo and Montenegro. Hard currency Hard currency, safe-haven currency or strong currency is any globally traded currency that serves as a reliable and stable store of value. Factors contributing to a currency's "hard" status might include the long-term stability of its purchasing power, the associated country's political and fiscal condition and outlook, and the policy posture of the issuing central bank. Safe

title: Money burning

text: unauthorised destruction of large amounts of Euro coins or notes." Also, "Member states must not encourage the mutilation of Euro notes or coins for artistic purposes, but they are required to tolerate it. Mutilated coins or notes should be considered unfit for circulation." The European Union defines "falsifying or fraudulently altering money in any way" as a crime. Also, according to the EU ruling 1210/2010, "all money that is unfit for circulation must be delivered to the relevant national authority". EU countries must remove the currency from circulation and reimburse the holder", no matter what the country of issue. The

title: De facto currency

text: De facto currency A de facto currency is a unit of money that is not legal tender in a country but is treated as such by most of the populace. The United States dollar and the European Union euro are the most common de facto currencies. Andorra used the euro unofficially prior to June 2013, at which point the euro became its official currency. The euro remains the de facto currency in Kosovo and Montenegro. Countries using the United States dollar as their de facto currency include Aruba and Cambodia, where most hotels, restaurants, and transportation are priced in dollars;

title: Currency money

text: or book money, which are fiat money. Currency money Currency money is money in full circulation that takes its value from the precious metal it contains, that is, its market value is (almost) the value of the metal it contains (apart from the Seigniorage or the minters' profit), though this is always overcompensated for in coins and banknotes from a country undergoing debasement. Currency money is usually made of silver or gold, but in very rare cases plated metal and even copper may be used. Currency money is commodity money, as opposed to coins whose metal value is less than

title: Currency money

text: Currency money Currency money is money in full circulation that takes its value from the precious metal it contains, that is, its market value is (almost) the value of the metal it contains (apart from the Seigniorage or the minters' profit), though this is always overcompensated for in coins and banknotes from a country undergoing debasement. Currency money is usually made of silver or gold, but in very rare cases plated metal and even copper may be used. Currency money is commodity money, as opposed to coins whose metal value is less than their nominal value, paper money, and deposit

title: Currency-counting machine

text: Currency-counting machine A currency-counting machine is a machine that counts money—either stacks of banknotes or loose collections of coins. Counters may be purely mechanical or use electronic components. The machines typically provide a total count of all money, or count off specific batch sizes for wrapping and storage. Currency counters are commonly used in vending machines to determine what amount of money has been deposited by customers. In some modern automated teller machines, currency counters allow for cash deposits without envelopes, since they can identify which bills have been inserted instead of just how many. The user is given the

title: Currency

text: relative values of the different currencies. Currencies in this sense are defined by governments, and each type has limited boundaries of acceptance. Other definitions of the term "currency" are discussed in their respective synonymous articles banknote, coin, and money. The latter definition, pertaining to the currency systems of nations, is the topic of this article. Currencies can be classified into two monetary systems: fiat money and commodity money, depending on what guarantees the value (the economy at large vs. the government's physical metal reserves). Some currencies are legal tender in certain political jurisdictions. Others are simply traded for their economic

title: Currency Act

text: the debt from King William’s War. Other colonies quickly followed suit, and by 1715 ten of the thirteen had resorted to the issuance of paper currency. Economist Stanley Finkelstein highlights the advantage of paper currency, “that unless it is backed by specie it is cost free currency.” The paper currency depreciated quickly because the colonies printed more than what was taxed out of circulation. By 1740, Rhode Island bills of exchange were only four percent of face value and those of Massachusetts were eleven percent. The money supply was growing at a much faster rate than that of the overall

title: Circulation (currency)

text: Circulation (currency) In monetary economics, circulation is the continuing use of individual units of a currency for transactions. Thus currency in circulation is the total value of currency (coins and paper currency) that has ever been issued minus the amount that has been removed from the economy by the central bank. More broadly, money in circulation is the total money supply of a country, which can be defined in various ways always including currency and also including some types of bank deposits. Standard money is the basic currency circulating within a monetary system. It has legal recognition for prices and

title: Demurrage (currency)

text: Demurrage (currency) Demurrage is the cost associated with owning or holding currency over a given period. It is sometimes referred to as a carrying cost of money. For commodity money such as gold, demurrage is the cost of storing and securing the gold. For paper currency, it can take the form of a periodic tax, such as a stamp tax, on currency holdings. Demurrage is sometimes cited as economically advantageous, usually in the context of complementary currency systems. While demurrage is a natural feature of private commodity money, it has at various times been deliberately incorporated into currency systems as

title: Money in Islam

text: of the world were backed by gold. However, only governments could redeem paper, not the average citizen. The price of a commodity is set by the market as long as fiat currency (paper) is not used. On the other hand, the price/value of commodities can be manipulated/adjusted by the creators of fiat money (by virtue of the market law of supply and demand). Money in Islam The free market principle is an Islamic principle. Islam considers commodities with intrinsic value as currency. The following are some examples of commodities that can be used as currency: gold (as Gold Dinar), silver

title: Bryan Money

text: memorabilia take interest in Bryan Money. Zerbe’s article captures what makes Bryan Money distinctive from other collectible currency: "“Bryan Money is unique as a series. The monetary-political issue, conditions and temperament of the time, and the tolerance of disregard for the letter of the law, all being in favorable conjunction, made possible what never before or may never again occur - such a large and interesting variety of grotesque political satires in metal.”" Bryan Money Bryan Money is a term used in the numismatic community to refer to tokens and medals associated with William Jennings Bryan's platform during the United

title: Digital currency

text: Digital currency Digital currency (digital money, electronic money or electronic currency) is a type of currency available in digital form (in contrast to physical, such as banknotes and coins). It exhibits properties similar to physical currencies, but can allow for instantaneous transactions and borderless transfer-of-ownership. Examples include virtual currencies and cryptocurrencies and central bank issued money accounted for in a computer database (including digital base money). Like traditional money, these currencies may be used to buy physical goods and services, but may also be restricted to certain communities such as for use inside an online game or social network. Digital

title: Digital currency

text: which is issued and usually controlled by its developers, and used and accepted among the members of a specific virtual community. According to the Bank for International Settlements' November 2015 "Digital currencies" report, it is an asset represented in digital form and having some monetary characteristics. Digital currency can be denominated to a sovereign currency and issued by the issuer responsible to redeem digital money for cash. In that case, digital currency represents electronic money (e-money). Digital currency denominated in its own units of value or with decentralized or automatic issuance will be considered as a virtual currency. As such,

title: Money in Islam

text: Money in Islam The free market principle is an Islamic principle. Islam considers commodities with intrinsic value as currency. The following are some examples of commodities that can be used as currency: gold (as Gold Dinar), silver (as Silver Dirham), rice, dates, wheat, barley and salt. Paper money or electronic money can be used as long as it is backed by one of these commodities at a fixed exchange rate (in other words the paper is just a contract stipulating that the bearer can redeem the paper for a fixed measure (weight) of that particular commodity). Until 1971 most currencies

title: Digital currency

text: of its creators. "Forbes" writer Tim Worstall has written that the value of bitcoin is largely derived from speculative trading. Bitcoin has also been criticised for its energy inefficient SHA-256-based proof of work. Digital currency Digital currency (digital money, electronic money or electronic currency) is a type of currency available in digital form (in contrast to physical, such as banknotes and coins). It exhibits properties similar to physical currencies, but can allow for instantaneous transactions and borderless transfer-of-ownership. Examples include virtual currencies and cryptocurrencies and central bank issued money accounted for in a computer database (including digital base money). Like

title: Canadian Tire money

text: Canadian Tire money Canadian Tire money, officially Canadian Tire 'money' or CTM is a loyalty program operated by the Canadian retail chain Canadian Tire. It consists of coupons, issued by the company, which resemble real banknotes. It can be used as scrip in Canadian Tire stores, but is not considered a private currency. The notes are printed on paper similar to what Canadian currency was printed on when they were still paper, and were jointly produced by two of the country's long-established security printers, British American Banknote Company (BABN) and Canadian Bank Note Company (CBN). Some privately owned businesses in

title: Digital currency

text: destabilizing effect on the Chinese Yuan currency due to speculation. Recent interest in cryptocurrencies has prompted renewed interest in digital currencies, with bitcoin, introduced in 2008, becoming the most widely used and accepted digital currency. According to the European Central Bank's 2015 "Virtual currency schemes – a further analysis" report, virtual currency is a digital representation of value, not issued by a central bank, credit institution or e-money institution, which, in some circumstances, can be used as an alternative to money. In the previous report of October 2012, the virtual currency was defined as a type of unregulated, digital money,

title: Currency converter

text: and sell at a high rate, while a traveler could wait to exchange money at home in a favorable market. 3. Currency Converter Currency converter A currency converter is software code that is designed to convert one currency into another in order to check its corresponding value. The code is generally a part of a web site or it forms a mobile app and it is based on current market or bank exchange rates. In order to convert one currency into another, a user enters an amount of money (e.g. '1000') and chooses the currency he/she wishes to check the

title: Roman currency

text: economic need, but they wanted to emulate Greek culture; they considered the institution of minted money a significant feature of that culture. However, Roman coinage initially saw very limited use. The type of money introduced by Rome was unlike that found elsewhere in the ancient Mediterranean. It combined a number of uncommon elements. One example is the large bronze bullion, the ' (Latin for "struck bronze"). It measured about and weighed around , being made out of a highly leaded tin bronze. Although similar metal currency bars had been produced in Italy and northern Etruscan areas, these had been made

title: Currency

text: with few options other than to create a local currency. The following table are estimates of the 15 most frequently used currencies in world payments from 2012 to 2018 by SWIFT. Related concepts Accounting units Lists Currency A currency (from , "in circulation", from ), in the most specific use of the word, refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins. A more general definition is that a currency is a "system of money" (monetary units) in common use, especially in a nation. Under this definition,

title: Currency

text: Currency A currency (from , "in circulation", from ), in the most specific use of the word, refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins. A more general definition is that a currency is a "system of money" (monetary units) in common use, especially in a nation. Under this definition, US dollars, British pounds, Australian dollars, European euros and Russian ruble are examples of currency. These various currencies are recognized as stores of value and are traded between nations in foreign exchange markets, which determine the

title: Digital currency

text: bitcoin is a digital currency but also a type of virtual currency. Bitcoin and its alternatives are based on cryptographic algorithms, so these kinds of virtual currencies are also called cryptocurrencies. Most of the traditional money supply is bank money held on computers. This is also considered digital currency. One could argue that our increasingly cashless society means that all currencies are becoming digital, but they are not presented to us as such. Currency can be exchanged electronically using debit cards and credit cards using electronic funds transfer at point of sale. A number of electronic money systems use contactless

title: Money multiplier

text: of money supply and money base. It is the number of dollars of money supply that can be created for every dollar of monetary base. Money supply, denoted by M, is the stock of money held by public. It is measured by the amount of currency and deposits. Money Base, denoted by B, is the summation of currency and reserves. Currency and Reserves are monetary policy that can be affected by the Federal Reserve. For example, the Federal Reserve can increase currency by printing more money and they can similarly increase reserve by requiring a higher percentage of deposits to

title: Knife money

text: Knife money Knife money is the name of large, cast, bronze, knife-shaped commodity money produced by various governments and kingdoms in what is now China, approximately 2500 years ago. Knife money circulated in China between 600 and 200 B.C. during the Zhou dynasty. There are several stories that attempt to explain how knife money was introduced but it is not certain if any or all are true. In one of the stories a prince who was running low on money to pay his troops allowed them to use their knives as a form of currency to barter with villagers and

title: Central Bank Digital Currency

text: Central Bank Digital Currency Central bank digital currency (CBDC, also called "Digital Fiat Currency" or "digital base money") is the digital form of fiat money which is a currency established as money by government regulation or law. Central bank digital currency is different from "digital currency" (or virtual currency and cryptocurrency), which are not issued by the state and lack the legal tender status declared by the government. As such, public digital currencies could compete with commercial bank deposits and challenge the status quo of the current fractional reserve banking system. The Bank of England was one of the first

title: Demurrage (currency)

text: regional community currency in a part of Bavaria, using a demurrage system. Freicoin is a cryptocurrency, in which demurrage is levied at approximately 5.00% per annum. The ZenVow Project implements a human generated Global Basic Income system using time dependent digital currency that derives from the demurrage system. Where the human average world life expectancy is used as the currencies lifespan and respective derived burn rate. Demurrage (currency) Demurrage is the cost associated with owning or holding currency over a given period. It is sometimes referred to as a carrying cost of money. For commodity money such as gold, demurrage

title: Currency substitution

text: may reduce the possibility of systematic liquidity shortages and the optimal reserves in the banking system. Research has shown that official currency substitution has played a significant role in improving bank liquidity and asset quality in Ecuador and El Salvador. High and unanticipated inflation rates decrease the demand for domestic money and raise the demand for alternative assets, including foreign currency and assets dominated by foreign currency. This phenomenon is called the "flight from domestic money". It results in a rapid and sizable process of currency substitution. In countries with high inflation rates, the domestic currency tends to be gradually

title: Currency converter

text: the result in. The application software then calculates and displays the corresponding amount of money. Currency converters aim to maintain real-time information on current market or bank exchange rates, so that the calculated result changes whenever the value of either of the component currencies does. They do so by connecting to a database of current currency exchange rates. The frequency at which currency converters update the exchange rates they use varies: Yahoo currency converter updates its rates every day, while Convert My Money< every hour. Currency converters usually display a value that is not biased towards buying or selling. This

title: Virtual currency

text: Virtual currency Virtual currency, or virtual money, is a type of unregulated, digital money, which is issued and usually controlled by its developers and used and accepted among the members of a specific virtual community. The U.S. Commodity Futures Trading Commission has warned investors against pump and dump schemes that use virtual currencies. The Financial Crimes Enforcement Network (FinCEN), a bureau of the US Treasury, defined virtual currency in its guidance published in 2013. In 2014, the European Banking Authority defined virtual currency as "a digital representation of value that is neither issued by a central bank or a public

title: Japanese currency

text: Japanese currency Japanese currency has a history covering the period from the 8th century to the present. After the traditional usage of rice as currency medium, Japan's currency was characterized by an early adoption of currency systems and designs from China before developing a separate system of its own. Before the advent of the 7-8th century CE, Japan used commodity money for its exchanges. It generally consisted of material that was compact, easily transportable and had a widely recognized value. Commodity money was a great improvement over simple barter, in which commodities were simply exchanged against others. Ideally, commodity money

title: Currency lads and lasses

text: of illegality, inferior quality, and subordination. By analogy, native-born colonials came to be known as "currency", in contrast to the British-born "sterling". The first reference in print to the native-born being called "currency" was in the "Sydney Gazette" of 13 September 1822, in a letter signed by "Lydia Languish" calling for more social events to be organised for "currency lasses". As applied to people rather money, the term originally had derogatory connotations – by the early 1820s, "currency had stuck for male and female native-born and everyone knew what it implied". However, it was soon reclaimed by the native-born as

text: $149 million at current exchange rates" from September 2014. Shavers attempted to argue the investments were not securities because Bitcoin is not money. However, in a precedent determining decision, the magistrate judge determined that Bitcoin is money, and thus the investments were securities. The magistrate judge stated, "[i]t is clear that Bitcoin can be used as money. It can be used to purchase goods or services, and as Shavers stated, used to pay for individual living expenses. The only limitation of Bitcoin is that it is limited to those places that accept it as currency. However, it can also be

text: must register as a Money Services Business (MSB). The purpose of this legislation was to prevent financial exchanges from being used to launder money or finance crime, including terrorism. The European Central Bank has also recommended registering exchanges to "reduce the incentive for terrorists, criminals and money launderers to make use of these virtual currency schemes for illegal purposes". In spite of the BSA applying to VC exchanges and administrators, VC is still used to finance crime and launder money because not every transaction in VC networks are required to comply with the BSA and not every online exchange complies

title: What Has Government Done to Our Money?

text: ethical agenda. Both essays are normally found together in one binding. In "The Case for a 100 Percent Gold Dollar", Rothbard explains how having a currency permanently fixed by law at a certain weight in gold, and always redeemable in gold, greatly incentivizes governments and banks to be much more ethical, civil, and honest in their lending methods, accounting methods, and in their honorable pursuits of other profits related to managing and supplying money to society. He shows how any money, backed by gold or not, is a commodity. He argues any commodity could become a money and that every

title: Test money

text: money is often used in television and movie production in the same fashion. Test money Test money (or test notes, test bills, funny money, Monopoly money) are a part of the test apparatus that are often used with currency handling equipment, such as automatic teller machines. While it is often desirable to use actual banknotes or coins in the process of testing currency handling equipment, the inherent value of the objects being used means that security procedures must be put in place during the testing period that they are used. If the testing includes destructive testing, where the currency is

title: Test money

text: will be raised about the subsequent loss in value of the objects. To remove these concerns, test money is often used in place of real currency. Test money may share some or all of the characteristics of a given currency (size, paper type, paper thickness, colouring, printing characteristics, various denominations), but it also has some form of easily identifiable, non-removable, non-mutable characteristics that differentiate it from legal tender, scrip, or counterfeit currency. For certain types of bulk cash handling equipment, the test money units may represent bundled or rolled currency. Some members of the notaphiliatelic community collect test money. Test

title: Currency Act

text: colonial economy, which led to hyperinflation and the corresponding reduction in purchasing power per unit of money. British merchants were forced to accept this depreciated currency as a repayment of debts. This led to the Currency Act of 1751. The first Act, the Currency Act 1751 (24 Geo. II c. 53), restricted the issue of paper money and the establishment of new public banks by the colonies of New England. These colonies had issued paper fiat money known as "bills of credit" to help pay for military expenses during the French and Indian Wars. Because more paper money was issued

title: Early American currency

text: money during the Revolution, known as Continental currency, to fund the war effort. Both state and Continental currency depreciated rapidly, becoming practically worthless by the end of the war. This depreciation was caused by the government printing large amounts of currency in order to meet the demands of war. There were three general types of money in the colonies of British America: specie (coins), paper money and commodity money. Commodity money was used when cash (coins and paper money) was scarce. Commodities such as tobacco, beaver skins, and wampum served as money at various times and places. Cash in the

title: Helicopter money

text: 2016, he declared in an interview: "I think the whole idea of the helicopter money is downright devastating. For this is nothing more than a declaration of bankruptcy of the monetary policy" Richard Koo makes a similar argument when saying "if such envelopes arrived day after day, the entire country would quickly fall into a panic as people lose all sense of what their currency is worth." This clashes with the argument that people would not spend much of the money they receive (and therefore helicopter money cannot be inflationary). Several prominent economist such as central banker Raghuram Rajan are

title: Currency converter

text: is useful when: Currency converters are often used as a means of checking the relative value of a currency before exchanging it into another currency. This is useful for the traveler because the traveler can check the value of a foreign county’s currency before exchanging money. These programs list the value of a foreign country’s currency relative to the traveler’s own currency. The currency conversion software calculates the rates as decimal point numbers with typically 4 decimals after the comma. Some may calculate the conversion rates with more decimals internally but only 4 are displayed. This is related to precision,

title: Black money scam

text: Black money scam The black money scam, sometimes also known as the "black dollar scam" or "wash wash scam", is a scam where con artists attempt to fraudulently obtain money from a victim by persuading him or her that piles of banknote-sized paper in a trunk or a safe are actually currency notes that have been dyed to avoid detection by authorities. The victim is persuaded to pay fees and purchase chemicals to remove the dye, with the promise of a share in the proceeds. The black money scam is a variation of what is known as advance fee fraud.

title: Digital currency

text: Central Bank as "a type of unregulated, digital money, which is issued and usually controlled by its developers, and used and accepted among the members of a specific virtual community". The US Department of Treasury in 2013 defined it more tersely as "a medium of exchange that operates like a currency in some environments, but does not have all the attributes of real currency". The key attribute a virtual currency does not have according to these definitions, is the status as legal tender. Since 2001, the European Union has implemented the E-Money Directive "on the taking up, pursuit and prudential

title: Central Bank Digital Currency

text: the central banks for all citizens. Digital fiat currency is currently being studied and tested by governments and central banks in order to realize the many positive implications it contributes to financial inclusion, economic growth, technology innovation and increased transaction efficiencies. Here is a list of potential advantages: A general concern is that the introduction of a CBDC would precipitate potential bank runs and thus make banks' funding position weaker. Central Bank Digital Currency Central bank digital currency (CBDC, also called "Digital Fiat Currency" or "digital base money") is the digital form of fiat money which is a currency established

title: Digital gold currency

text: Digital gold currency Digital gold currency (or DGC) is a form of electronic money (or digital currency) based on mass units of gold. It is a kind of representative money, like a US paper gold certificate at the time (from 1873 to 1933) that these were exchangeable for gold on demand. The typical unit of account for such currency is linked to grams or troy ounces of gold, although other units such as the gold dinar are sometimes used. DGCs are backed by gold through unallocated or allocated gold storage. Digital gold currencies are issued by a number of companies,

title: Digital gold currency

text: bullion audits, raising concerns that such companies do not maintain a 100% reserve ratio, or that their currency is entirely virtual and not backed by physical gold at all. Due to increase of compliance requirements for payment service providers, Jersey-based GoldMoney decided to suspend its DGC service as from January 21, 2012 Digital gold currency Digital gold currency (or DGC) is a form of electronic money (or digital currency) based on mass units of gold. It is a kind of representative money, like a US paper gold certificate at the time (from 1873 to 1933) that these were exchangeable for

title: Test money

text: Test money Test money (or test notes, test bills, funny money, Monopoly money) are a part of the test apparatus that are often used with currency handling equipment, such as automatic teller machines. While it is often desirable to use actual banknotes or coins in the process of testing currency handling equipment, the inherent value of the objects being used means that security procedures must be put in place during the testing period that they are used. If the testing includes destructive testing, where the currency is purposefully damaged or destroyed to see how the machinery will react, further concern

title: Virtual currency

text: to its regulations defining currency as "the coin and paper money of the United States or of any other country that [i] is designated as legal tender and that [ii] circulates and [iii] is customarily used and accepted as a medium of exchange in the country of issuance", also called "real currency" by FinCEN, defined virtual currency as "a medium of exchange that operates like a currency in some environments, but does not have all the attributes of real currency". In particular, virtual currency does not have legal tender status in any jurisdiction. In 2014, the European Banking Authority defined

title: Currency converter

text: Currency converter A currency converter is software code that is designed to convert one currency into another in order to check its corresponding value. The code is generally a part of a web site or it forms a mobile app and it is based on current market or bank exchange rates. In order to convert one currency into another, a user enters an amount of money (e.g. '1000') and chooses the currency he/she wishes to check the monetary value of (e.g. 'United States Dollar'). After that, the user selects one, or sometimes several other currencies, he/she would like to see

title: Complementary currency

text: as the Community Exchange System, WIR and Friendly Favors, Tibex in the Lazio region in Italy or the proposed global currency terra. A community currency is a type of complementary currency that has the explicit aim to support and build more equal, connected and sustainable societies. A community currency is designed to be used by a specific group. Some complementary currency activists are Belgian ex-banker Bernard Lietaer, British economist Hazel Henderson, Dutch STRO-director Henk van Arkel that developed Cyclos, Qoin initiators Edgar Kampers and Rob van Hilten, Paul Glover of Ithaca HOURS, Margrit Kennedy from Monneta, LETSystem inventor Michael Linton,

title: Currency transaction tax

text: clear to me that a Tobin tax would reduce volatility in the currency markets. It is true that it may discourage currency speculation but it would also reduce the liquidity of the marketplace." In 1994, Canadian economist Rodney Schmidt noted that "in two-thirds of all the outright forward and currency swap transactions, the money moved into another currency for fewer than seven days. In only 1 per cent did the money stay for as long as one year. While the volatile exchange rates caused by all this rapid movement posed problems for national economies, it was the bread and butter

title: Fictional currency

text: form of electronic money. In science fiction set in the near future, modern currency names are often used. The selection of familiar currencies such as the dollar or yen, particularly in the far future, may be used to make suggestions about the way history unfolded; however, it would seem strange for aliens to use a recognizable currency. Fictional currency A fictional currency is some form of currency defined, or alluded to, in works of fiction. The names of units of such currency are sometimes based on extant or historic currencies (e.g. "Altairian dollars" or "Earth yen") while other names, such

title: What Has Government Done to Our Money?

text: What Has Government Done to Our Money? What Has Government Done to Our Money? is a 1963 book by Murray N. Rothbard that details the history of money, from early barter systems, to the gold standard, to present day systems of paper money. Rothbard explains how money was originally developed, and why gold was chosen as the preferred commodity to use as money. The essay, "What Has Government Done to Our Money?" was written by Rothbard as an objective historical account with a provocative title. In contrast, "The Case for a 100 Percent Gold Dollar" was an essay with an

title: Money creation

text: as the Treasury), are typically empowered to create new, physical currency, i.e. paper notes and coins, in order to meet the needs of commercial banks for cash withdrawals, and to replace worn and/or destroyed currency. The process does not increase the money supply, as such; the term "printing [new] money" is considered a misnomer. In modern economies, relatively little of the supply of broad money is in physical currency. "Monetary financing", also "debt monetization", occurs when the country's central bank purchases government debt. It is considered by mainstream analysis to cause inflation, and often hyperinflation. IMF's former chief economist Olivier

title: Currency substitution

text: the anchor country. In addition, monetary authorities in economies with currency substitution diminish the liquidity assurance to their banking system. In an economy with full currency substitution, monetary authorities cannot act as lender of last resort to commercial banks by printing money. The alternatives to lending to the bank system may include taxation and issuing government debt. The loss of the lender of last resort is considered a cost of full currency substitution. This cost depends on the initial level of unofficial currency substitution before moving to a full currency substituted economy. This relation is negative because in a heavily

title: Fictional currency

text: Fictional currency A fictional currency is some form of currency defined, or alluded to, in works of fiction. The names of units of such currency are sometimes based on extant or historic currencies (e.g. "Altairian dollars" or "Earth yen") while other names, such as "Kalganids" in Asimov's "Foundation" series, may be wholly invented. A particularly common type, especially in science fiction, is electronically managed "credits". In some works of fiction, exchange media other than money are used. These are not currency as such, but rather nonstandard media of exchange used to avoid the difficulties of ensuring "double coincidence of wants"

title: Broad money

text: Broad money In economics, broad money is a term denoting a certain measure of the amount of money (of the money supply) in a national economy, and it is used depending on the local practice. The European Central Bank considers all monetary aggregates from M2 upwards to be part of broad money. Typically, "broad money" refers to M2, M3, and/or M4. The term "narrow money" typically covers the most liquid forms of money, i.e. currency (banknotes and coins) as well as bank-account balances that can immediately be converted into currency or used for cashless payments (overnight deposits, checking accounts, etc).

title: Money

text: reserve requirement or other financial ratio requirements imposed by financial regulators. The money supply of a country is usually held to be the total amount of currency in circulation plus the total value of checking and savings deposits in the commercial banks in the country. In modern economies, relatively little of the money supply is in physical currency. For example, in December 2010 in the U.S., of the $8853.4 billion in broad money supply (M2), only $915.7 billion (about 10%) consisted of physical coins and paper money. The development of computer technology in the second part of the twentieth century

title: Community currency

text: Community currency A community currency is a type of complementary currency that is used by groups with a common bond, like members of a locality, or association, and designed to meet their needs. A community currency may be geography-based, making it a type of local currency, or it may be used within a business-based, or online community. Community currencies aim at using money as a tool to achieve social or environmental objectives. According to the New Economics Foundation partner Community Currencies in Action: Some of the purposes for community currencies identified by Community Currencies in Action include: Several software packages

title: Monopoly money

text: Monopoly money Monopoly money is a type of play money used in the board game "Monopoly". It is different from most currencies, including the American currency or British currency upon which it is based, in that it is smaller, one-sided, and comes in different colors. Many variations of "Monopoly" exist, with many types of money representing various currencies. In the more "standard" versions of the game, Monopoly money consists entirely of notes. Monopoly notes come in the following colors: The modern "Monopoly" game has its Monopoly money denominated in $1, $5, $10, $20, $50, $100, $500, and (in some editions)

title: Dual currency deposit

text: Dual currency deposit In finance, a dual currency deposit (DCD, also known as Dual Currency Instrument or Dual Currency Product) is a derivative instrument which combines a money market deposit with a currency option to provide a higher yield than that available for a standard deposit. There is a higher risk than with the latter - the depositor can receive less funds than originally deposited and in a different currency. An investor could do a USD/JPY DCD depositing USD and receiving JPY. A dual currency deposit (“DCD”) is a foreign exchange-linked deposit in which the principal can be repaid after

title: Money

text: liquidity" describes how easily an item can be traded for another item, or into the common currency within an economy. Money is the most liquid asset because it is universally recognised and accepted as the common currency. In this way, money gives consumers the freedom to trade goods and services easily without having to barter. Liquid financial instruments are easily tradable and have low transaction costs. There should be no (or minimal) spread between the prices to buy and sell the instrument being used as money. Currently, most modern monetary systems are based on fiat money. However, for most of

title: Money laundering

text: digital currency exchanger service which converted dollars into a digital currency called Liberty Reserve, and could be sent and received anonymously. The receiver could convert the Liberty Reserve currency back into cash for a small fee. In May 2013, the US authorities shut down Liberty Reserve charging its founder and various others with money laundering. Another increasingly common way of laundering money is to use online gaming. In a growing number of online games, such as "Second Life" and "World of Warcraft," it is possible to convert money into virtual goods, services, or virtual cash that can later be converted

title: Token money

text: whose face value exceeds its cost of production, i.e. the intrinsic value is lower than the extrinsic value. This means that the actual worth of a note or coin is much less than what we use it for. The cost of production of token money is less than its actual value, for example with convertible currency, collector notes, souvenirs, coupons, some retired US banknotes and per 1986 banknotes printed in regulation size and only on one side with authorization are actually worth more dollars than when issued. Token money can be useful when there is a shortage of legal tender,

title: Currency board

text: Helena continue to operate currency boards, backing their locally printed currency notes with pound sterling reserves. A gold standard is a special case of a currency board where the value of the national currency is linked to the value of gold instead of a foreign currency. For a precise definition of what constitutes a currency board, including past examples, see: Currency board A currency board is a monetary authority which is required to maintain a fixed exchange rate with a foreign currency. This policy objective requires the conventional objectives of a central bank to be subordinated to the exchange rate

title: Credit theory of money

text: deposits, rather than the other way round. In a book published in June 2013, Felix Martin argued that credit based theories of money are correct, citing earlier work by Macleod: "currency ... represents transferable debt, and nothing else". Martin writes that it's difficult for people to grasp the nature of money, because money is such a central part of society, and alludes to the Chinese proverb that "If you want to know what water is like, don't ask the fish." The conception that money is essentially equivalent to credit or debt has long been used by those advocating particular reforms

title: Foreign currency mortgage

text: transaction to take place. Both these products also allow a borrower to fix an exchange rate, which safeguards his money from the fluctuations in the currency market. Products facilitating ‘Regular Payment’ ensures that your mortgage payment is paid on the stipulated date as indicated by you thus preventing any default in payments. Foreign currency mortgage A foreign currency mortgage is a mortgage which is repayable in a currency other than the currency of the country in which the borrower is a resident. Foreign currency mortgages can be used to finance both personal mortgages and corporate mortgages. The interest rate charged

title: Currency Wars

text: Song says the direct consequence was that the Federal Reserve lost its monopoly to control money. The book looks back at history and argues that fiat currency itself is a conspiracy; it sees in the abolition of representative currency and the installment of fiat currency a struggle between the "banking clique" and the governments of the western nations, ending in the victory of the former. It advises the Chinese government to keep a vigilant eye on China's currency and instate a representative currency. The book has achieved bestseller status in China. Although acknowledging the book's huge popularity in China, the

title: American Open Currency Standard

text: was Chair of the Committee. American Open Currency Standard American Open Currency Standard (AOCS) is a non-profit organization opposed to fiat money and wishing to expedite the use of metal as money. In accordance with its mission, AOCS grants approval to new currencies, helps new currency issuers to establish brand identity, and encourages merchants to accept AOCS-approved currencies. AOCS was started in 2007 by Robert Gray, who was formerly a Regional Currency Office for Liberty Dollar and is currently the Executive Director of AOCS. Robert Gray testified before the United States House Financial Services Subcommittee on Domestic Monetary Policy and

title: American Open Currency Standard

text: American Open Currency Standard American Open Currency Standard (AOCS) is a non-profit organization opposed to fiat money and wishing to expedite the use of metal as money. In accordance with its mission, AOCS grants approval to new currencies, helps new currency issuers to establish brand identity, and encourages merchants to accept AOCS-approved currencies. AOCS was started in 2007 by Robert Gray, who was formerly a Regional Currency Office for Liberty Dollar and is currently the Executive Director of AOCS. Robert Gray testified before the United States House Financial Services Subcommittee on Domestic Monetary Policy and Technology when congressman Ron Paul

title: Virtual currency

text: authority, nor necessarily attached to a fiat currency, but is accepted by natural or legal persons as a means of payment and can be transferred, stored or traded electronically". By contrast, a digital currency that is issued by a central bank is defined as "central bank digital currency". In 2012, the European Central Bank defined virtual currency as "a type of unregulated, digital money, which is issued and usually controlled by its developers, and used and accepted among the members of a specific virtual community". In 2013, Financial Crimes Enforcement Network (FinCEN), a bureau of the US Treasury, in contrast

title: Private money

text: Private money "For non-government backed currency see:Private currency" Private money is a commonly used term in banking and finance. It refers to lending money to a company or individual by a private individual or organization. While banks are traditional sources of financing for real estate, and other purposes, private money is offered by individuals or organizations and may have non traditional qualifying guidelines. There are higher risks associated with private lending for both the lender and borrowers. There is traditionally less "red tape" and regulation. Private money can be similar to the prevailing rate of interest or it can be

title: Dual Currency Bond

text: Dual Currency Bond Dual currency bonds are the bonds for which money is raised in one currency, but redemption takes place in another. In a dual currency bond, the principal and coupon rate denominated in two different currencies. Low interest rates during 1995 and 1996 led to a surge in issuance of dual currency bonds that was driven primarily by Japanese investors seeking income opportunities that were not available domestically. Dual currency bond were among the earliest and most successful currency linked fixed income securities and remained popular thereafter. The securities were introduced on a private placement basis in the

text: its exclusive constitutional power "to coin Money" and "regulate the Value thereof". In a November 2014 decision, the Court upheld the power of regulators to prosecute a defendant who "designed, created and minted coins called 'Liberty Dollars,' coins 'in resemblance or in similitude' [or made to look like] of U.S. coins." Although the defendant did not pass the Liberty Dollars currency as a counterfeit, the currency were in close enough "resemblance of coins of the United States or of foreign countries" and consequently fell under the authority of 18 U.S.C.A. § 486.123 The Court has not decided if § 486

title: Dual Currency Bond

text: reducing the cost of fund. Dual Currency Bond Dual currency bonds are the bonds for which money is raised in one currency, but redemption takes place in another. In a dual currency bond, the principal and coupon rate denominated in two different currencies. Low interest rates during 1995 and 1996 led to a surge in issuance of dual currency bonds that was driven primarily by Japanese investors seeking income opportunities that were not available domestically. Dual currency bond were among the earliest and most successful currency linked fixed income securities and remained popular thereafter. The securities were introduced on a

title: Currency transaction report

text: Currency transaction report A currency transaction report (CTR) is a report that U.S. financial institutions are required to file with FinCEN for each deposit, withdrawal, exchange of currency, or other payment or transfer, by, through, or to the financial institution which involves a transaction in currency of more than $10,000. Used in this context, currency means the coin and/or paper money of any country that is designated as legal tender by the country of issuance. Currency also includes U.S. silver certificates, U.S. notes, Federal Reserve notes, and official foreign bank notes. When the first version of the CTR was introduced,

title: Bahá'í Faith in Italy

text: as if they were Turkish. The American Bahá'ís had sent thousands of dollars for the journey, urging `Abdu'l-Bahá to leave the Cedric in Italy and travel to England to sail on the maiden voyage of the RMS Titanic. Instead he returned the money for charity and continued the voyage on the Cedric. Later a survivor met with him asking why he didn't go on the Titanic and he suggested "God inspires man's heart." Later in April 1912 `Abdu'l-Bahá is recorded addressing that war: What a great tribulation there is in the countries of Italy and Turkey in these days! The

title: Para (currency)

text: its brief existence between 1906 and 1918. In Albania, the "para" was used as a currency before the introduction of the Albanian lek in 1926. In Albanian, Kurdish Greek, Bulgarian, Macedonian, Romanian, Serbian and Turkish, "para" or its plural παράδες, "pari", "pare", "parale", "parai", "paraja" or "paralar" is a generic term for "money". Para (currency) The para (Cyrillic: пара, from Turkish "para", from Persian "pārah", "piece" ) was a former currency of the Ottoman Empire, Turkey, Montenegro, Albania and Yugoslavia and is the current subunit, although rarely used, of the Serbian dinar. As a former Ottoman and Turkish currency, it

title: Terra (currency)

text: establish a "L'Europa – monnaie de la paix", in English "Europe - Money of peace", was given birth. The idea was enthusiastically picked up by Lietaer during an educational journey. Terra (currency) Terra (The Trade Reference Currency, TRC) is the name of a possible "world currency". The concept was proposed by Belgian economist and expert on monetary systems Bernard A. Lietaer in 2001, based on a similar proposal from the 1930s. The currency is meant to be based on a basket of the 9-12 most important commodities (according to their importance in worldwide trade). Lietaer opines this would provide a

title: Currency converter

text: software internalization (i18n) and how the Forex (foreign exchange) market works, where most conversions have 4 decimal places, although some currency pairs also have 5. Most currency converters use up to 4. Some currency conversion software converts currency alongside information regarding the currencies. This information can be very helpful for travelers and those looking to make money by trading currency. These currency conversion programs seek to arm the user with knowledge that can lead the user to an educated guess about the future fluctuations of a country’s currency. A trader would seek to buy the currency at a low rate

title: Currency detector

text: banknotes are pixelated—that is, they are made out of small dots. The dots are spaced differently and have different sizes, depending on the note. The optical sensors can look for these different patterns to determine what sort of note has been inserted. Some paper money is also fluorescent: it glows when ultraviolet light is shined on it. Some machines shine an ultraviolet light on the note and measure the glow to help determine the note's composition. The particles in the ink on many countries' currency have ferromagnetic properties, including some elemental iron. Magnetic composition comprises carbon nanofoam in an amount

title: Demurrage (currency)

text: proposed by Keynes was influenced by Gesell's idea of demurrage on currency, but used inflation of the money supply rather than fees to increase the velocity of money in an attempt to expand the economy. In some instances, the demurrage fee is charged by some sort of central authority, and is paid into a fund. The application of this fund varies widely among both historical and proposed systems. In some cases, it is used to pay the costs of administering the tax. If the currency in question is run by the government, the demurrage fee can contribute to general tax

title: Currency sign (typography)

text: as a kind of "universal sign" to denote "currency" or "money". Somehow, the neutral currency sign (¤) was to be used as a printable symbol in itself, and this usage was sufficiently extended in the years of the first drafts of ISO 8859 to include it. Currency sign (typography) The currency sign (¤) is a character used to denote an unspecified currency. It is sometimes called "scarab". It is often used in place of a symbol that is not present in the font in use; for example, in place of the colón (₡). It can be described as a circle

title: Money

text: can be reliably exchanged for a fixed quantity of a commodity such as gold or silver. The value of representative money stands in direct and fixed relation to the commodity that backs it, while not itself being composed of that commodity. Fiat money or fiat currency is money whose value is not derived from any intrinsic value or guarantee that it can be converted into a valuable commodity (such as gold). Instead, it has value only by government order (fiat). Usually, the government declares the fiat currency (typically notes and coins from a central bank, such as the Federal Reserve

title: Card money

text: and treasurer. In Dutch Guiana, meanwhile, the form these validations took varied between issue. Card money was generally issued, at least initially, in emergency situations. It could be backed by other currencies, such as Bills of Exchange, or be without guarantee. During the expansion of the French colony in New France (in what is now Canada) in the 17th century, currency used had to be imported from France. When the colony faced insolvency owing to great expenses fighting the Iroquois and a diminishing beaver trade, intendant Jacques de Meulles introduced card money to pay soldiers; this soon spread into general

title: Currency packaging

text: number of coins. Trays used to handle currency, often sorting by denomination. Currency packaging Currency packaging includes several forms of packing money for easy handling and counting. Many systems use standard color-coding or are marked to indicate the amount in the package. Currency straps, also known as currency bands or bill straps, are a type of fastener used to secure discrete numbers of bills. Typically, currency bands have attached ends so bills are "curled" and slipped into the band whereas currency straps contain adhesive on the ends to secure them around the bills after wrapping. Generated bundles are packed together

title: Early American currency

text: 1775. This depreciation of colonial currency was harmful to creditors in Great Britain when colonists paid their debts with money that had lost value. The British Parliament passed several Currency Acts to regulate the paper money issued by the colonies. The Currency Act of 1751 restricted the issue of paper money in New England. It allowed the existing bills to be used as legal tender for public debts (i.e. paying taxes), but disallowed their use for private debts (e.g. for paying merchants). In 1776, British economist Adam Smith criticized colonial bills of credit in his most famous work, "The Wealth

title: Early American currency

text: Early American currency Early American currency went through several stages of development during the colonial and post-Revolutionary history of the United States. Because few coins were minted in the thirteen colonies that became the United States, foreign coins like the Spanish dollar were widely circulated. Colonial governments sometimes issued paper money to facilitate economic activities. The British Parliament passed Currency Acts in 1751, 1764, and 1773 that regulated colonial paper money. During the American Revolution, the colonies became independent states. Freed from British monetary regulations, they issued paper money to pay for military expenses. The Continental Congress also issued paper

title: What Is the What

text: That Happens Will Happen Today". Tom Tykwer plans to adapt the novel into a film. In 2009, the novel received the Prix Médicis étranger in France. What Is the What What Is the What: The Autobiography of Valentino Achak Deng is a 2006 novel written by Dave Eggers. It is based on the life of Valentino Achak Deng, a Sudanese child refugee who immigrated to the United States under the Lost Boys of Sudan program. It was a finalist for the National Book Award. As a boy, Achak is separated from his family during the Second Sudanese Civil War when

title: Demurrage (currency)

text: subsidy. Both inflation and demurrage reduce the purchasing power of money held over time, but demurrage does so through fixed regular fees, while inflation does it in a variety of ways. Inflation is certainly not always everywhere a monetary phenomenon. Inflation is not always easy to predict & it does not stay fixed through time, but the level of demurrage is fixed by the Government. Gresham's law that "bad money drives out good" suggests that demurrage fees would mean that a currency would suffer more rapid circulation than competing forms of currency. This led some such as German-Argentine economist Silvio

title: Japanese currency

text: rate of three ""Bu"". They were called "Aratame Sanbu Sadame" (改三分定, "Fixed to the value of three "bu""). Meanwhile, local governments issued their own currency chaotically, so that the nation's money supply expanded by 2.5 times between 1859 and 1869, leading to crumbling money values and soaring prices. The system would be replaced by a new one, after the conclusion of the Boshin War, and with the onset of the Meiji government in 1868. Following 1868, a new currency system based on the Japanese yen was progressively established along Western lines, which has remained Japan's currency system to this day.

title: Ideal money

text: Ideal money Ideal Money (to be considered different than defining 'ideal money' without capitals) is a theoretical notion promulgated by John Nash (Nobel Laureate in Economics) to stabilize international currencies. It is a solution to the Triffin dilemma-the conflict of economic interests between the short-term domestic and long-term international objectives when a currency used in a country is also serving as world reserve currency. Nash gave various lectures and written discourses on the subject he called Ideal Money. The first talk was given in 1995 (one year after Nash won the Nobel Prize for economics for his work on equilibrium

title: What Is the What

text: What Is the What What Is the What: The Autobiography of Valentino Achak Deng is a 2006 novel written by Dave Eggers. It is based on the life of Valentino Achak Deng, a Sudanese child refugee who immigrated to the United States under the Lost Boys of Sudan program. It was a finalist for the National Book Award. As a boy, Achak is separated from his family during the Second Sudanese Civil War when the Arab militia, referred to as "murahaleen" (which is Arabic for the deported), wipes out his Dinka village, Marial Bai. During the assault, he loses sight

title: Crane Currency

text: Crane Currency Crane Currency is a manufacturer of cotton-based paper products used in the printing of national currencies, passports and banknotes. Crane remains the sole supplier of paper for use in U.S. currency (Federal Reserve Notes). Stephen Crane was the first in the Crane family to become a papermaker, buying his first mill, "The Liberty Paper Mill", in 1770. He sold currency-type paper to engraver Paul Revere, who printed the American Colonies' first paper money. In 1801, Crane was founded by Zenas Crane, Henry Wiswall and John Willard. The company's original mill had a daily output of 20 posts (1

title: Currency substitution

text: legal tender will help to "eliminate the inflation-bias problem of discretionary monetary policy". Secondly, official currency substitution imposes stronger financial constraint on the government by eliminating deficit financing by issuing money. An empirical finding suggests that inflation has been significantly lower in economies with full currency substitution than nations with domestic currencies. The expected benefit of currency substitution is the elimination of the risk of exchange rate fluctuations and a possible reduction in the country's international exposure. Currency substitution cannot eliminate the risk of an external crisis but provides steadier markets as a result of eliminating fluctuations in exchange rates.

title: Tumin (currency)

text: services to exchange. The Tumin has been described by journalists as reinvigorating the economy of the municipality, but has also been criticized by the Mexican National Bank for being an attempt to substitute the Mexican national currency, the peso. The Mexican National Bank has in fact sued the developers of Tumin for acting against its monopoly on printing money, a lawsuit that is still on-going. The creators state that the accusations are invalid as Tumin do not replace money, but is rather an instrument for barter. One 2013 study argued that the currency was ineffective in reaching the goal of

title: Currency substitution

text: rate. Currency substitution increases with inflation volatility and decreases with the volatility of the real exchange rate. The flight from domestic money depends on a country's institutional factors. The first factor is the level of development of the domestic financial market. An economy with a well-developed financial market can offer a set of alternative financial instruments denominated in domestic currency, reducing the role of foreign currency as an inflation hedge. The pattern of the currency substitution process also varies across countries with different foreign exchange and capital controls. In a country with strict foreign exchange regulations, the demand for foreign