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No. 6586
2,4 MB, 4096 × 2304
Let's have a thread about various monetary reforms!
You can save here various materials about monetary reforms, that happened over the world.
No. 6589
180 kB, 9 pages
How long do you think it will take for crypto currencies to take over not only the asian area, but also the western one?
biggest mistake, imho, was to create "money" without any real value or resource behind it. but since it is "normal" in our current time, i see no problems in switching towards crypto. much more effective, fast, less dependent on a centralized institute.
i doubt it is possible to stop the change towards crypto. it's simple way better as our current "normal" money system with central banks. rule of the market.

thou, bitcoin is past its zenith; i would say
No. 6591
206 kB, 991 × 672
Fiat has a value behind it. Fiat is backed by debt which is an enormously powerful economic resource. How is it backed by debt? Fiat functions as a promise that the currency is legally able to settle debt within the jurisdiction of the states that recognise it. Debt is not just loans, but basic everyday transactions too, when you buy something from the store, you are settling a debt gained for acquiring the goods you chose. It requires immediate repayment, but it is a momentary debt and so the local fiat quantifies and settles the debt acquired.

This means that a fiat currency is backed by the fact that the debt that it legally settles exists. If there were no debt, then it would cease to function. Likewise, if the promise that it could settle debt ceases, then the fiat will also stop working, kind of like how a gold-backed currency stops working properly when a treasury stops allowing the transfer of currency into gold. There is no longer any functional value to the gold standard and it will not be as successful as a gold standard that is liquid. Fiat makes a lot more sense when you think of it as virtual vs physical backing rather than unbacked vs backed.
No. 6598
116 kB, 1031 × 600
821 kB, 784 × 460
302 kB, 21 pages
1,8 MB, 808 × 986
Portugal used to have its own currency for every colony. They'd nominally have the same value, but in practice they were exchanged at different values. They'd only abolish them and create a single currency in 1931. See: the .pdf in my post, it's in Portuguese though. If anyone is interested I'll translate some of it.

Related to this, I'll post about the greatest scam in Portuguese history.

Alves dos Reis was a university dropout who decided to move to Angola to make his fortune. He faked a university diploma from Oxford. He bought a large portion of Angolan Railway shares with a cheque that didn't have any credit to it and became wealthy. He then began forging US$ cheques to purchase more companies, he was arrested but he was released later, he was found to be the victim of a criminal conspiracy. Why would this wealthy man forge cheques?

He moved onto to his greatest scam:
He forged a contract from the Bank of Portugal authorizing him to print banknotes in order to develop Angola. He got it verified by a Portuguese bank notary, the British embassy, the French embassy and the German embassy.
He convinced several currency traders to join him on his shady plot to print currency, as they believed it was a shady plot started by the Bank of Portugal to print money under the table to issue a confidential loan that could have disastrous political consequences.

He convinced a Dutch bank note printer company to create notes for him, the dutch company told him that he should approach an old British company that had the plates used for Portuguese notes (Waterlow and Sons). Alves would eventually figure out the sequence of serial codes used in notes, but his first order contained some had already been issued. The company reached out to the Governor of the Bank of Portugal, but this letter never reached its destination. Reis convinced Waterlow and Sons that he could use them for colonial use exclusively, so it wouldn't be a problem.

Alves dos Reis got so many of these banknotes printed that there were almost as many fake notes as real ones in circulation.

>Waterlow and Sons Limited printed 200,000 banknotes of 500 Portuguese escudos (which was equivalent to 0.88% of Portugal’s nominal GDP at the time) with an image of Vasco da Gama, with the date of 17 November 1922, to a total face value of 100 million escudos.

Alves dos Reis used the profits of his scheme to attempt to purchase ownership of the bank so as to then retroactively make the order legitimate and his master plan complete.

By this point, the Portuguese government had realized there were a lot of fake banknotes in circulation, but they were near impossible to distinguish from the real ones. The level of intricacy of this scheme led them to believe it was the work of a foreign power (Germany).
They would only figure out that they were fake by randomly finding a couple of notes with duplicate numbers.

The trial would be highly polemical since the judges believed that this scam must have come from the higher ranks of the Bank of Portugal.

The government would then have to deal with a currency whose value nobody believed in, and three months later, the government got coup'd by the military. Thus began the period of military dictatorship.
No. 6625
48 kB, 400 × 314
Can this thread be thread of Numismatics and bonistique (Notaphily) in general?
No. 6626
Decimalisation and metric system has made people dumber.
No. 6628
>Usefull logical instrument instead ofoutdated systems based on size of random human bodyparts

No. 6630
If you need to use maths, fractions and conversions in everyday life you will have be smarter than someone who doesn't do these things.

An illiterate, unemployed citizen with less than 10 years of schooling, say in 1970's, would be smarter than a modern school leaver at 18 today.
At least in maths and conversions.
More specifically decimalisation of coinage has coincided with a decline in pupils ability at maths.

Metric system is for niggers.
No. 6632
Murricans still use the imperial system, and they aren't any smarter than Europeans.
No. 6639
271 kB, 760 × 773
>An illiterate, unemployed citizen with less than 10 years of schooling, say in 1970's, would be smarter than a modern school leaver at 18 today.

Not really.
No. 6650
Have you lived in pre-decimalisation days?
No. 6651
I believe that all 12 year olds in the 1970s had better logic and math skills than current 16 year old students.
Just get a look at old textbooks and school leavers exams.
No. 6652
No. 6662
You are not the only one who believes that. I take math lessons from an old guy who studied in Germany and the US and he told me that most students from the 50s and 60s could do the elevated level matura tests like it's nothing.
And then, relatives and friends who lived abroad told me that they learn a lot less math than we do here, and a mediocre student would be near the top of the class in the "west".
I don't know how true is that though.
No. 6667
>biggest mistake, imho, was to create "money" without any real value or resource behind it.
Common it's 2018. World eсonomy exists without any real value. There are many companies that doesn't produce any profit, tech and even got no market. Some companies are backed by nothing but gambling. Like if there are 100 companies on 100 millions market and only one can succeed thats somehow makes all the companies million dollars worth.
Market isn't working anymore, the next level of abstraction works. Human feelings. luck and greed became 21 century "real economy". And bitcoin is just another addition to it, look like it reacts to articles.
Saying that's things should have some real value is the same mistake eastern europe does again and again.
t.drunk truth speaker
It's don't. In fact previous generations had more incentives to learn and that's all. And modern world has more things to learn.
No. 6700
No. 6716
Is it Swedish bitcoin?
No. 6719
>"money" without any real value or resource behind it

nicely meme'd
No. 6720
Honestly I and others were hoping that it would be a way to undermine the central banks. I now doubt that. But a man can still dream about wiping out decentralized money.
No. 6743
112 kB, 640 × 841
88 kB, 800 × 326
137 kB, 779 × 1000
46 kB, 600 × 230
Continuing on British legacy
No. 6760
Sort of. They have come pretty far in moving towards it. There is a very interesting side effect though. As it is now banks are creating the money. With this the central bank will create money and every citizen will have an account there.
No. 6871
162 kB, 1960 × 1212
38 kB, 696 × 465
Meanwhile, Venezuela changes its currency at rate 100000:1. To show how sovereign bolivar is sovereign, they will be sized exaclty as Maduro showed.
Will it stop inflation or it will fuel the inflation so the next redenomination will come sooner?
No. 6873
Also, ebin cartoon from 2008.
No. 6879
good find.
No. 9181
2,7 MB, 1498 × 854
210 kB, 1100 × 683
1,1 MB, 1841 × 3110
US issued money sure are something special.
No. 11988
117 kB, 908 × 681
>The pound was a unit of account in Anglo-Saxon England, equal to 240 silver pennies and equivalent to one pound weight of silver. It evolved into the modern British currency, the pound sterling.
I performed some simple calculations and what I have got:
1 g of silver costs 0.47 US dollars
1 pound is 453 g approx.
1 pound of sterlings is $212.91 today, therefore:
1 shilling is $10.65
1 penny is $0.89
1 farthing us $0.22

Boy, we've come a long way of loss of money value.
No. 12000
17,4 MB, 4500 × 3870
My favourite is the Pap Thomas treasury note that they did in 1890. Mostly just because I think Pap Thomas is cool, the design itself is nothing special.
No. 12009
1,9 MB, 820 × 1134
In recent years Hungary began phasing out the old Forint banknotes in favour of new ones.
No new denomination was introduced, but the old ones were updated with new copy protection methods, and the artwork was touched up a bit.
The only note that hasn't been renewed yet is the 500 forint note, which is due sometime early 2019.

People had problems with differentiating between the new and old notes. They said that he 20k and the 2k notes looked alike.
No. 12012
1,6 MB, 1194 × 1486
1,5 MB, 1200 × 1597
1,4 MB, 1189 × 1461
Some educational materialial from the early 2000's when they were making major changes to the U.S. dollar. I remember seeing posters like this at store checkouts. The addition of color (other than green) was a big deal, even though the rest of the worlds money already used color to differentiate denominations.
No. 12013
I see people with wheelbarrows full of the old currency, making bags and stuff out of it, but I never see any on the market.

I'd love to buy a few million of it and become a millionaire.
No. 18187
93 kB, 840 × 436
27 kB, 375 × 184
408 kB, 1280 × 638
289 kB, 1280 × 690
  • Hey, man, I draw new money, what's the best currency in the world?
  • Deutsche Mark, for sure!

I wonder which currencies adopted similar designs. So far I know only about Tajik rubls, adopting Soviet roubles style, and something like this >>9181
No. 18188
144 kB, 960 × 640
55 kB, 800 × 450
There are many copies of dollar in different third world countries
Additionaly, now there is fashion on "euro-style money"
No. 18191
Didnt banks had to destroy it?
Its the perfect template for forgery, since the paper used is the hardest to get hands on.
No. 18232
54 kB, 800 × 400
>now there is fashion on "euro-style money"
That Russian note really does look like a Euro. I suppose it's natural for currency designs to follow trends, and banks actually have a reason to design notes we'll find beautiful. Studies have found a positive correlation between the aesthetic appreciation of a note, and knowledge of its security features. Banks try to make money beautiful so we'll look at it a little longer and, as a consequence, will remember things like microprinting and watermarks.
No. 18237
Ours were printed in EU, so it's no wonder. The coins look Euro-ish too. I think that our current bills are the best-looking of all we ever had, so I don't really mind.
No. 18296
I think previous ones was okay, but I think all people love 1993 ones with animals
No. 18304
831 kB, 1721 × 1651
Only people who was already adult enough in 1998-2001 to have personal pocket money will remember those ones I used mine last one to buy Tempo, I still remeber what an idiot I was
No. 34895
Wait a minute how did I miss this thread

I've always been interested in currency speculation but the markets right now make me think it would be either a really bad time to invest or a pretty good time if you like to gamble. Who would you invest in and diversify your currency holdings with? Me personally I think that yen could in theory be a good investment longterm, but well it's China and they prop themselves up with massive amounts of currency manipulation.

The British pound is lol. I wouldnt invest in that trash until after Brexit and even then I doubt I'd invest a cent into British currency instead of anyone else. Even Canadian dollars would be a far, far wider investment.

US dollars are a terrible investment longterm. I have every confidence in our currency collapsing into nothingness in the medium to longterm future with massive inflation. Thanks to current politics the US is going to become completely isolated with an okayish local industry no matter what happens but frankly I see buying US dollars which I unfortunately still have as being about as wise as "investing" in a new car or computer: it's only certain to depreciate in value. I should note that currency speculation is a short term thing though and not really dependent on the same factors as diversifying your currency holdings. Even still, I would not speculate on anything good about the US dollar but I guess it isn't anywhere near the pure toilet paper that is the British pound right now.

Indian rupees? Nah. I doubt India will get its shit together any time soon enough for that.

Brazilian Real? I think that the BRICS idea is stupid in general and only ignores the actual reality of a situation in favor of its potential. You can say this guy is a massively talented genius with a native potential to be like a famous musician or cancer researcher or whatever, but if he's currently an unemployed heroin addict I wouldn't bet on him right now.

Canadian dollars funnily enough I think is a potentially great investment in the longer term as climate change increasingly fucks our planet as they're going to be relatively insulated from climate refugees and minus the forest fires are going to end up being a great place with probably a great local economy. I would unironically say invest in CAD if you want a longish term investment.

If you're hoping to flip some currency soon I would say Euros. I think that regardless of whatever American or Russian propaganda says and a bunch of dumb memes about refugees that Europe has its shit together more than most, a great economy, and an easy ability to weather both Brexit and any of the impending market shocks. The US can also weather market shocks but just barely and that's mostly the super rich who end up unaffected and even they get massive investments wiped out in a recession, which is coming soon. So I would way, make a safety blanket stitched out of Euros.

Really complex microtransactions would be cool but I don't know enough about that or how you could flip liquid assets between really obscure countries and like take advantage of some Saudi recession to buy Riyals, then flip it into Bolivian Bolivianos after Morales gets deposed to take advantage of the Western investment into their lithium industry, then flip it back into your dollars or Euros or whatever.

Oh. And I also would unironically buy Rubles. I think that no matter how much Russia suffers now that this is a great country to diversify your currency into starting next year.