21. Monetary Controversies And Alternative Viewpoints A monetary System for the New Millennium by Roger argues that the fractional reserve money system, which originated Soft currency economics by Warren B. Mosler http://www.ex.ac.uk/~RDavies/arian/controversies.html

Money Facts and Monetary Controversies A collection of links to sources See also Money in history Money in fiction Financial scandals Money : What it is and How it Works A series of articles by William F. Hummel. International Monetary Law Conference proceedings of the Committee on International Monetary Law of the International Law Association. Edward Flaherty's Economics site This includes several files on debunking popular economic myths and the national debt hysteria. Single Global Currency Association The Single Global Currency Association seeks to promote the implementation of a single global currency, with an international central bank, by the year 2025. The website also has many links to other sites on money. Conspiracy Theory Index The aim of this site, maintained by Gerry Rough, is simply to expose and debunk conspiracy theories. Many of the alleged conspiracies involve money and banking. The Monetary Inquiry Association Describing itself as a new way of questioning money the MIA has been recruiting people to ask fundamental questions about the nature and role of money.

22. Economic/Monetary Systems - Systems - Themepark World currency. The US Government and the Economy A webquest for grades 912. Students examine the role of fiscal and monetary policy and other ways that the http://www.uen.org/themepark/html/systems/economic.html

Ecosystems Solar System Human Body Systems Government Systems ... Miscellaneous Systems Economic/Monetary Systems Consumers, producers, supply, demand...these are components of our system of economics. We are an important part of this systemconsumers keep the economy going. Everytime we buy something, we are sending a message to a manufacturer that we like the product and that they should keep making it. Sample some of the following activities to learn more about economic systems. Places To Go People To See Things To Do Teacher Resources ... Bibliography Places To Go The following are places to go (some real and some virtual) to find out about economic systems. Check out money lesson plans, kid's clubhouse, and interactive money games at H.I.P. Pocket Change , a new web site all about coins. Visit a retail store. How do principles of economics affect their daily operations? What are the costs and benefits to running a business? Take a virtual tour of the Federal Reserve Bank.

23. GCSE Economics - International Trade - European Monetary Union gcse economics international trade - european monetary union. UK if we are using the same currency as the These GCSE economics revision notes have been kindly http://www.tutor2u.net/economics/gcse/revision_notes/international_trade_europea

Accounting and Finance Economics (GCSE) Economics (AS/A2) ICT ... Strategy gcse economics - international trade - european monetary union 3. A central interest rate for the whole of Europe. The UK would no longer have its own interest rate ADVANTAGES OF EMU DISADVANTAGES OF EMU No need to change money into foreign currencies. This will save time and money. This is good for businesses and tourists The UK government will not be able to change interest rates in order to manage our economy Businesses have to change their tills and payment systems Businesses have to change their tills and payment systems More foreign businesses may choose to set up in the UK if we are using the same currency as the rest of europe The Euro commenced on 010102. At present the UK has not joined EMU although it may do in the future ACTION a. Do you agree with EMU? b. Can you remember the 3 key features of EMU? These GCSE Economics revision notes have been kindly provided by Peter Davies of Mill Hill School, Ripley Don't forget to visit the GCSE Economics Discussion Board if you have any questions that you need help on.

24. Index2 the Further Reading guide on currency boards). Intersection of Politics and economics Secret doctrines monetary economics A Reading List - Aimed at graduate http://users.erols.com/kurrency/

CURRENCY BOARDS AND DOLLARIZATION: www.dollarization.org Site maintained by Kurt Schuler . Some material requires a PDF reader. New stuff Currency boards Dollarization Material on related topics ... Miscellaneous New stuff Tables of modern monetary systems: A set of country tables covering monetary authorities and official exchange rate arrangements since the advent of paper moneynot just episodes of currency board and dollarization, but all systems. I am working continent by continent, trying to achieve coverage of all countries by 2006. Comments welcome. A general explanation of the tables in the country listings (January 2004). (Be warned: the country listings themselves, which are below, are quite long and may be slow in downloading.) Africa (revised version, April 2004) - an essay on African monetary history, country listings , and references and tables . Comments welcome. Asia (February 2004) - country listings , and references and tables . Comments welcome. Argentina: Argentina's "convertibility" system - (November 14, 2003, revised April 2004) - a somewhat technical essay. See also my long essay on Argentina's Economic Crisis: Causes and Cures (July 2003), a

25. Money: The Monetary System Of The United States Of monetary systems Part II (History of the World). Extreme monetary regime change evidence from currency board introduction in Bulgaria. (Journal of Economic http://www.infoplease.com/ce6/bus/A0859734.html

HOTWORDS CITE PRINT EMAIL in All Infoplease Almanacs Biographies Dictionary Encyclopedia Home Almanacs Atlas Dictionary ... Father's Day Infoplease Tools Periodic Table Conversion Tool Perpetual Calendar Year by Year ... Site Map Also from Infoplease Search Infoplease Info search tips Search Biographies Bio search tips Encyclopedia money The Monetary System of the United States The monetary system of the United States was based on bimetallism during most of the 19th cent. A full gold standard was in effect from 1900 to 1933, providing for free coinage of gold and full convertibility of currency into gold coin; the volume of money in circulation was closely related to the gold supply. The passage of the Gold Reserve Act of 1934, which put the country on a modified gold standard, presaged the end of the gold-based monetary system in domestic exchange. Under this system, the dollar was legally defined as having a certain, fixed value in gold. While gold was still thought to be important for maintenance of confidence in the dollar, its connection with the actual use of money was at best vague. The 1934 act stipulated that gold could not be used as a medium of domestic exchange. More recently, a number of measures have de-emphasized the dollar's dependence on gold; since the early 1970s, practically all U.S. currency, paper or coin, is essentially fiat money. debit cards , and credit cards ; demand deposits (checking accounts) are, therefore, generally considered part of the money supply. Starting in 1996, the Federal Reserve undertook the redesign of all paper bills, chiefly to deter a new wave of

26. MONETARY SYSTEMS A gold standard international monetary system, was most complete was a period of intense economic activity and of gold as a universal currency of international http://www.benbest.com/polecon/monetary.html

Monetary Systems and Managed Economies by Ben Best CONTENTS: LINKS TO SECTIONS BY TOPIC THE ORIGIN AND NATURE OF MONEY THE QUANTITY THEORY OF MONEY MONEY-CREATION BY BANKS HISTORY OF MODERN MONETARY STANDARDS ... SOME BOOK REFERENCES I. THE ORIGIN AND NATURE OF MONEY Money has been defined as a medium of exchange , as a means of storing value and as a standard for measuring market value Euros prior to the introduction of the Euro currency. A mill (one-tenth of a cent) is a standard of value for taxation purposes, but is not currently part of the medium of exchange. Money as a medium of exchange solves the problem of "coincident wants". A gravestone-maker who wants to buy eggs does not need to find a poultry farmer who want a gravestone. Even if such a poultry farmer could be found, the gravestone-maker would probably prefer to purchase eggs in small quantities on a regular basis for the rest of her life. It is far more convenient for her to trade gravestones for the medium of exchange and then use the medium of exchange to buy eggs. The medium of exchange allows for a time interval between selling and buying so each transaction can occur at more a more convenient time and place. Durability, divisibility, malleability, portability, recognizability, availability and a high value-to-weight ratio are important qualities which make metals useful as money. All metals are lustrous in a vacuum, but become tarnished (or ignite) when exposed to oxygen in the atmosphere. Metals resistant to oxidation are easily purified and the value of the pure metal can be determined from a single, easily-measure quantity:

27. The Works Of Robert A. Mundell - Optimum Currency Areas Africa and monetary IntegrationMontreal Les Editions HRW , 1167. International economics. currency Areas and International monetary Reform at the Dawn of a New http://www.robertmundell.net/Menu/Main.asp?Type=5&Cat=01&ThemeName=Optimum Curre

28. The Works Of Robert A. Mundell - World Currency the merits of and need for a world currency. will depend on politics as well as economics. a needed coherence to the international monetary system, give the http://www.robertmundell.net/Menu/Main.asp?Type=5&Cat=09&ThemeName=World Currenc

29. South-Western: European Monetary Union Valéry Giscard d Estaing, Economic and monetary Union The Making of a New currency http//www provides a history of the European monetary Union and http://www.swlearning.com/economics/policy_debates/monetary_union.html

Policy Debate: Will the European Monetary Union succeed? Issues and Background The introduction of the euro... has clear economic advantages. It removes the uncertainty over exchange rates from a large part of Europe.... It increases the transparency of the European market, which makes it easier to benefit from economies of scale, but - or rather, in addition - it encourages competition. The European System of Central Banks will also try to bring about price stability over a large area which, if successful, will be an important condition for a sustainable, real (i.e., actual) growth in income and employment. The economic advantages of EMU [European Monetary Union] increase in proportion to the size and stability of the euro region. Willem F. Duisenberg The ultimate irony, of course, is that the attempt to bind the European countries together in an artificial currency straight-jacket without political unity and common political will is bound to result in the exact opposite of what its founders intended: It will lead to a situation where individual national leaders will blame their economic and financial problems on the monetary straight-jacket forced upon them. One can well envision a situation in which Spanish leaders will claim that unemployment is so high because the European Central Bank's monetary policy is too tight, while at the same time Germany's leaders will blame the central bank for too high an inflation rate. This is not a recipe for monetary, economic and political harmony.

30. Yes! Resource Guide  Issue # 2 respond to globalization and economicsas-usual Rethinking our Centralized monetary System The Case for a on the finances and legality of issuing currency. http://www.futurenet.org/2Money/Resource2.html

home subscribe discussion guides events and links ... about us Featured in Issue #2 MONEY: Print Your Own Table of Contents Resource Guide Commonweal Inc. Riverplace Ste. 227 43 Main St. SE Minneapolis, MN 55414 email: commonweal@isd.net http://www.commonweal.com Business and non-profits get in the local currency loop Elderplan Inc. 6323 Seventh Avenue Brooklyn, NY 11220 http://www.elderplan.org An HMO that issues service credits to seniors who help one another LETSystems Landsman Community Services Ltd. 1600 Embelton Cres. Courtenay, BC V9N 6N8 Canada contact: Michael Linton email: Ics@mars.ark.com http://www.gmlets.u-net.com A hub of LETS creativity E.F. Schumacher Society 140 Jug End Road Great Barrington, MA 01230 email: efssociety@aol.com http://www.localcurrency.org/ Many links to local currencies and community economics. Offerings include: Local Currency News , a new quarterly to be co-edited by Paul Glover and Susan Witt $25/year Local Currencies: Catalysts for Sustainable Regional Economics by Robert Swann and Susan Witt $5 Second Annual Decentralist Conference , June 27-29, 1997 to be held in Williamstown, MA, on community economics including local currencies.

31. Creating Community Currency The local currency movement hopes to reorganize the global The global economy has been shaped by military All monetary systems based upon debt have this fatal http://www.communitycurrency.org/

Home Resources Events The Difference Between Money and Real Wealth Creating Community Currencies International Inquiry into 9-11, Phase Two Toronto- May 25-30, 2004 Questioning the War on Terrorism ... 9-11 Truth Alliance The economic system is deeply flawed and has served to concentrate money, land and power in the hands of a few. The concentration of economic power and ecological devastation have heralded the collapse of many civilizations and empires. At this time in history, humanity must choose between the health and well-being of our planet, humanity, and other lifeforms, or the further enrichment of the ruling elite. The choice is clear. The World Bank, International Monetary Fund, World Trade Organization, World Economic Forum, and "Trade Agreements," such as the Multilateral Agreement on Investments (MAI) blatantly favor the rich over all environmental and human rights concerns (see http://www.tradewatch.org/ ). Civil society is now engaged in a tremendous struggle against these deadly institutions which value money over life. Opposition to the M.A.I., World Bank, the W.T.O. has grown and had some dramatic victories, but the struggle continues.(

32. Currency Boards currency Quality and monetary systems in 155 Countries, by Kurt Schuler, Research Monograph No.52, Institute of Economic Affairs, 128 pp., £11.50 (including http://patriot.net/~bernkopf/c-boards.html

Mark Bernkopf's Central Banking Resource Center Currency Boards Note : The American monetary economist Kurt Schuler is developing Currency Boards , the Internet's only Web site devoted exclusively to that subject. The site is essential for anyone with a serious interest in currency boards. Dr. Schuler is a strong supporter of currency boards; his fellow "evangelicals" include Steven H. Hanke, consultant and Forbes columnist; Sir Alan Walters, former personal economic adviser to Prime Minister Thatcher; and Lars Jonung of the Stockholm School of Economics. "Currency Boards: An Idea Whose Time Has Come?" by Richard W. Judy, Economic Reform Today , Banking and Financial Reform, 1995, No. 1, Center for International Private Enterprise, Washington, D.C. Richard Judy is with the Hudson Institute in Indianapolis. Economic Reform Today is published by the Center for International Private Enterprise, an affiliate of the United States Chamber of Commerce. "An Idea Gaining Currency

33. ISUMA : Defending The Current Monetary System the United States form an optimum currency area shocks will affect the Canadian economy regardless of costs) will be different under different monetary systems. http://www.isuma.net/v01n01/carr/carr_e.shtml

ss("#990000") Defending the Current Monetary System Jack Carr[ ABSTRACT If there is to be a common North American currency, then the only realistic option woud be for Canada to adopt the United States currency, because the US will never give up its dollar. Canada would have little to gain from having the US conduct our monetary policy. Advocates of a common currency exaggerate the transactions costs associated with the current regime. Nor can the floating dollar be blamed for the fact that Canada has lower productivity than the US. The current monetary system is serving Canada well. It has provided Canada with stable and low inflation rates. It has allowed for smoother adjustments to a number of real shocks. if there were to be a common currency in North America, there are only two possibilities: either Canada and the United States (and possibly Mexico) create a new North American Currency (like the Europeans created the Euro) or Canada (and Mexico) adopt the US dollar as its national currency. I believe that the only option that has any chance of being adopted is the second option. It is very costly to set up a new currency. All prices and bookkeeping records have to be converted to the new currency. The US dollar is a strong international currency with a well established "brand name." International investors have faith in the US dollar. The US government will never give up the US dollar for some new North American currency. If there is to be a common North American currency, then the only realistic option is for Canada to adopt the US currency. This paper considers the monetary arrangement where Canada adopts the US dollar.

34. The International Monetary System Remaking the International monetary System The Rio Agreement and Institute for International economics, 1987 Ronald I., “Optimum currency Areas.” American http://www.indiana.edu/~ipe/moneybib.htm

The International Monetary System Aliber, Robert Z. The Political Economy of Monetary Reform London : Macmillan, 1977. Baldassarri, Mario, Cesare Imbriani, and Dominick Salvatore, eds. The International System Between New Integration and Neo-Protectionism (Central Issues in Contemporary Economic Theory and Policy). New York St. Martin ’s Press, 1996. Bergsten, C. Fred, and John Williamson. The Multiple Reserve Currency System. Cambridge : MIT Press, 1983. ———, ed. International Adjustment and Financing. Washington : Institute for International Economics, 1991. Block, Fred L. The Origins of International Economic Disorder: A Study of United States International Monetary Policy from World War II to the Present. Berkeley University of California Press, 1977. Bordo, Michael D., and Barry J. Eichengreen, eds. A Retrospective on the Bretton Woods System: Lessons for International Monetary Reform. Chicago University of Chicago Press, 1993. Branson, William H., Jacob A. Frenkel, and Morris Goldstein, eds. International Policy Coordination and Exchange Rate Fluctuations. Chicago University of Chicago Press, 1990.

35. Robert Mundell The International monetary System Conflict and Reform, 1965; International monetary economics The Balance 1968, IESS; Hicksian Stability, currency Markets and http://cepa.newschool.edu/het/profiles/mundell.htm

Robert A. Mundell, 1932- Major works of Robert A. Mundell " International Trade and Factor Mobility ", 1957, AER "Transport Costs in International Trade Theory" Canadian JE " The Monetary Dynamics of International Adjustment Under Fixed and Flexible Exchange Rates ", 1960, QJE "The Public Debt, Corporate Income Taxes and the Rate of Interest", 1960, JPE "The Pure Theory of International Trade", 1960, AER (1968 version: Part 1 Part 2 Part 3 "The Public Debt, Corporate Income Taxes and the Rate of Interest,"1960, JPE " A Theory of Optimum Currency Areas ", 1961, AER "Flexible Exchange Rates and Employment Policy," 1961, Canadian JE "The International Disequilibrium System", 1961, Kyklos " The Appropriate Use of Monetary and Fiscal Policy for Internal and External Stability ", 1962, IMF Staff Papers " Capital Mobility and Stabilisation Policy under Fixed and Flexible Exchange Rates ", 1963, Canadian JE "Inflation and Real Interest", 1963

36. The New Monetary System Currencies Interest Rates Equities Commodities Credit Mo The future of this intermestic currency is the into the tangible standard monetary system. commerce e development mutual economy economics banking global stock http://intelegen.com/money/new_monetary_system.htm

The New Monetary System © 2000 Intelegen Inc. T he end of financial institutions as we know it has come. Boundaries between domestic and foreign currency vanish as intermestic currency comes into being. W e are developing a system that will move your money globally at the speed of light to the highest bidder on a daily basis eventually as frequent as every minute. Whoever will pay the most to borrow your money will have it whoever will charge the least to hold your debt will own it. Not just a single entity but multiple entities may borrow or loan a single block of your economic units using block partitioning algorithms. We have in development Intelligent Digital Agents (IDAs) that will replace the current activities of the banker, financial analyst, money manager, loan officer, and teller. System security, validation, authentication and coordination of Monetary Unit (MU) holdings are provided by Certificate Authorities. Risk assessment managers certify and evaluate entities providing profiles and ratings for individuals and companies. What we know now as mutual fund managers, stock brokers, and financial analysts will manage, train and transfer their intelligence and knowledge to the IDAs. Secondary to this is each economic participant defining his or her preferences and adding still more intelligence to the IDA.

37. The Tangible Standard New Monetary System Systems Currencies Interest Rates Equi the tangible standard new monetary system systems currencies interest rates equities ebusiness commerce e development mutual economy economics banking global http://intelegen.com/money/tangible_standard.htm

The Tangible Standard © 2000 Intelegen Inc. Past = gold standard Present = fiat money with inflation and insecurity Currently currency is back by a promise, a promise that can be broken. This promise backed currency can be inflated and deflated it is not a secure. The new tangible standard replaces fiat money and provides a cost efficient participant supported infrastructure. Never before possible, the growth and advancement of computer technology has made the new system a reality. Trillions upon trillions of transaction can be tracked and initiated at almost zero cost at the speed of light. What is it? Monetary units backed by tangible assets like land, buildings, stocks, bonds, commodities, energy, water and even pizza. The system is set to launch in the year 2000 using the global Internet, client and ISP computers and servers. (Read about intermestic currency). Would you rather have a monetary unit backed by a promise or that 10-acre parcel of land down the street? What becomes of the dollar? The new "gestalt" dollar is based on energy. Energy expended to initiate property transfer (based on the new internally developed property transfer physics, which replaces conventional particle physics), create boundaries, new forms and acquire raw materials. What about interest? Interest as we know it in the new system is a different form and is not attached to the creation of new monetary units. Instead thousands may loan directly to borrowers in return for dividends. But it is not a loan, as you now know it, it is actually a contribution of energy and or raw materials to produce a finished product. The combined efficiencies decrease the energy required to produce a product or service below the actual value (the amount of energy another entity will in general contribute in some form to acquire the product or service). This difference is the energy multiplier and is the newly created wealth. Risk is minimized by the ability of those that contribute energy to obtain records of prior performance of an each individual entity and the entities combined as gestalt entity. It further minimized by the ability to monitor in real time the expenditure of "contributed" energy and actual production of finished goods or services.

38. New England Economic Review: Rethinking The International Monetary System: An Ov chose Rethinking the International monetary System as the caused tremors within the economics profession and Asia had suffered sharp currency devaluation and http://www.bos.frb.org/economic/neer/neer1999/neer699a.htm

New England Economic Review Home Also in This Issue Rethinking the International Monetary System: An Overview Jane Sneddon Little and Giovanni P. Olivei November/December 1999 When the Federal Reserve Bank of Boston chose "Rethinking the International Monetary System" as the topic for its 43rd Economic Conference, it was clear that the worst international financial crisis in decades had caused tremors within the economics profession and the policymaking establishment. The miracle countries of Asia had suffered sharp currency devaluation and deep economic downturns, the turmoil had spilled over into Russia and Latin America, and a severe liquidity crisis had briefly threatened banking systems in the advanced countries. Not surprisingly, then, the events of the 1990s provoked many proposals for reform. But these proposals reflected differing, even contradictory views about the underlying problems and their solutions, and they did not always reveal a systemic approach to reform. In hopes of clarifying some of these issues, the Bank asked conference participants to examine key parts of current international arrangements: the eclectic exchange rate system, international capital markets, the international lender of last resort, and policy coordination. We also asked them to consider how these critical components interact. We hoped that adopting a systemic approach would help to narrow the differences among economic policymakers and identify priorities for reform. Our ultimate goal was to define ways to enhance the benefits of global integration, while limiting its costs. This article summarizes the participants' answers to our questions.

39. Euro Homepage Annex I Progress with European monetary Integration 212k The Euro the New Common currency Prof Facts, Challenges and Policies OECD economics Department (March http://www.econ.yale.edu/~corsetti/euro/Euroit.htm

Important message: to get to the Euro Homepage click below www.econ.yale.edu/~corsetti/euro Welcome to the Economic Policy Page of The Euro Homepage by Giancarlo Corsetti Contents Euro Economic Sources Basic readings Official sources Indicators and News: links to key sources More sources and debates ... Miscellaneous (conferences etc.) Economic Policies in EMU Building a policy agenda for EMU Monetary policy issues Fiscal policy issues Structural policies issues ... Link to news and latest updates This web site has been created and mantained by Giancarlo Corsetti. It provides links to news, analysis and opinions regarding the European Monetary Union from many available sources on the Internet. The author of this web site and the institutions to which he is affiliated are not responsible for the content of the texts that are accessible through this page. Section with basic readings (Back to index) Basics The first years of EMU The 2001 Economic slowdown ... Daily chronology of events 1998-2000 Basics Bank of England: Pratical issues arising from the euro June 2000 A perspective on the euro by Giancarlo Corsetti (CESifo Forum, Summer 2000) From the EMI to the ECB By Wim Duisenberg The euro and international capital markets, Carsten Detken and Philipp Hartmann, April 2000, (ECB Working Paper No. 19)

40. Currency Boards And Dollarization is farthest from the ideal, and currency boards and of the website for the economic historian follows Tables of Modern monetary systems Africa. There are four http://www.eh.net/bookreviews/library/0705.shtml

Currency Boards and Dollarization Schuler, Kurt Published by EH.NET (November 2003) Kurt Schuler, Currency Boards and Dollarization. URL: http://www/dollarization.org or http://users.erols.com/kurrency/. Website Review for EH.NET by Lawrence H. Officer, Department of Economics, University of Illinois at Chicago. The rise of the Internet and the ease of producing websites within it have given self publishing tremendous facility compared to old-fashioned "private printing." Traditionally some important scholarly works have been privately printed; a good example in economic history is various publications of Thomas Senior Berry, especially regarding U.S. national income. What the Internet has done is to enable individuals (and groups) to disseminate information and commentary both more cheaply and wider than ever before in human history. Also, unlike "hard" publications, there are no limits (lower or upper) on size, and the distinction of pamphlet versus book as well as single-volume versus multiple-volume work vanishes. Further, there is ease in revising and updating websites, quite different from the traditional "later editions" of "hard" books the latter is low in frequency and inherently a discrete process; the former can be almost continuous. A scholarly website, such as EH.NET, provides assurance that the information contained within has been subject to some peer review, always by the appropriate editor, sometimes also by scholars that are independent of the author. This procedure enhances the usability of the content of EH.NET. Unfortunately, there is no systematic evaluation of the material in private websites. Yet some such websites could provide valuable material for the scholar, in particular, the economic historian. This review outlines and evaluates one such website. As a website can be a dynamic document, this review applies strictly to the site as of mid-November 2003.

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