Information about Monetary System
A monetary system secures the proper functioning of money by regulating economic agents, transaction types, and money supply.
Monetary systems are traditionally formed by the policy decisions of individual governments and administrated as a domestic economic issue.
The current trend, however, is to use international trade and investment to alter the policy and legislation of individual governments. The best recent example of this policy is the European Union's creation of the euro as a common currency for many of its individual states. Another example is China's intentional devaulation of the Renminbi against other currencies. Modern currencies are not linked to physical commodities (silver or gold) and are not a contract to deliver a good or service. As such the value of a currency fluctuates based on politics, perception and emotion in addition to monetary policy.
Apart from monetary systems based on money, there do also exist systems based on "favours". One example of this is the LETS system. LETS, or Local Exchange Trading Systems, are local community trading groups where members exchange their goods and services with each other.
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Monetary systems are traditionally formed by the policy decisions of individual governments and administrated as a domestic economic issue.
The current trend, however, is to use international trade and investment to alter the policy and legislation of individual governments. The best recent example of this policy is the European Union's creation of the euro as a common currency for many of its individual states. Another example is China's intentional devaulation of the Renminbi against other currencies. Modern currencies are not linked to physical commodities (silver or gold) and are not a contract to deliver a good or service. As such the value of a currency fluctuates based on politics, perception and emotion in addition to monetary policy.
Apart from monetary systems based on money, there do also exist systems based on "favours". One example of this is the LETS system. LETS, or Local Exchange Trading Systems, are local community trading groups where members exchange their goods and services with each other.
Money is any token or other object that functions as a medium of exchange that is socially and legally accepted in payment for goods and services and in settlement of debts.
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worldwide view of the subject.
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“EU” redirects here. For other uses, see EU (disambiguation).
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Euro
Ευρώ (Greek)
Евро[1]
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Ευρώ (Greek)
Евро[1]
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Chinese renminbi
人民币 (Chinese)
Â¥100 banknote and 1 jiao coin
ISO 4217 Code CNY
User(s) Mainland of the People's Republic of China
Inflation 1.
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人民币 (Chinese)
Â¥100 banknote and 1 jiao coin
ISO 4217 Code CNY
User(s) Mainland of the People's Republic of China
Inflation 1.
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Herod_Archelaus
