Topic: Currency
Sector: Economics
On the subject of Currency:
Currency can be referring either to a particular currency, for example the INR (Indian Rupee) or to the coins and bank notes of a particular currency, which take in the physical features of national money supply.
What went before? Long ago
Before the currency world, our first generation used the barter system to get what they needed by exchanging their rice, milk or greens. (What they have in their hand)
For example, a shop owner would exchange bundles of rice that another farmer had. In this way, both the shop owner and the farmer would have all the rice and milk they needed, without any money having changed hands.
Current scenario:
The rupee is the currency of India. The issuance of the currency controlled by the RBI (Reserve Bank of India) and the symbols of the rupee are Rs, and the code is INR.
It’s a type of a paper in which the value of money being printed in different denomination.
Recently, in last month, i.e. Sep ’09, Reserve bank of India has decided to bring in polymer notes on a trail basis and the first denomination of trail notes is in 10INR and the expecting life time is five years, it seems the life time is four time better than the current paper note and it’s very difficult to fake.
To trade or buy or sell goods, without currency the trade won’t happen and it’s totally occupied in all of our routine life across the globe and different countries having their own currencies by naming dollar, dinar, euro and Riyadh.
Expectations:
I assume that there won’t be different types of currency across global and having single type of currency, may be global currency across the global and I expect the World Bank will introduce in the time frame of 10-15 years from today.
If it’s happens, an ample changes in currency system that needs to be modified across the global countries.
Your comments on above said subject will motivate the publisher. Please post your views below by using “comments”
Note: Above said information is drafted by publisher up to his/her knowledge. This may vary with original.
I think no chance to come global currency. Also i am expecting a single card (like Debit Card ) to do any kind of transactions across global to buy or sell without local currency and there is no chance to illegal activities.
ReplyDeleteSwamy-Thanks for your feedback and you mentioned about single card which is also a nice to tract all activities under this. good info :-)
ReplyDeleteMarcusmarcus - The global currency is gold
ReplyDeleteHi Marcusmarcus - thanks for your feedback and gold is one of the asset class in investment and it's not possible to convert as currency.
ReplyDeletecrazyTsu = If this moves us toward 1 world, then 1. it's inevitable in long term 2. m all 4 it
ReplyDeleteCrazyTsu - thanks for your feedback :-)
ReplyDeleteSoftwareGal:
ReplyDeletedid you know gold is always increasing in value? and money while there is a yearly bonus rate, you must take note that there is also an inflation rate that reduce the value of your money every year? you will need a money value of +4% grow every year or else, that +3% or +2% is actually a -2%, -3% or not growing 4%.
So your 200thousand now is actually not 200thousand in the future as your good morning dinner demand more money than it is in the current day. So be smart, buy your gold now. But makesure you buy it from the right sources. So many gold scam out there now.
OB: Yes, eventually there will be a global currency and honestly I am not in favor of it. The next step is lining us up like cattle to microchip us and then it is off to the slaughterhouse.
ReplyDeleteOf course if they put me in charge of the One World Order human cattle/banking empire then I'm all for it.
Hi SoftwareGal - thanks for your informative feedback on this.
ReplyDeleteHi OB - The same type of US microchip going to implement in India soon...
ReplyDeletemikeny07
ReplyDeleteYou can't have a global currency without a global government. And that won't happen in a million years.
Mikeny07 - Thanks for your visit to my blog and your feedback on this.
ReplyDelete