Pages:
Author

Topic: Parity watch -> Who's next? - page 6. (Read 68157 times)

legendary
Activity: 3598
Merit: 2386
Viva Ut Vivas
June 16, 2016, 07:29:02 AM
75. ETHIOPIA  M1 ~$11.5 billion

legendary
Activity: 3430
Merit: 3074
June 16, 2016, 05:47:12 AM
well said. i have to add though, that it ended a centuries long fuck up for every traveller crossing borders (in europe, the next border is just around the corner) when you wanted to travel from the netherlands to italy you had to convert your gulden into dmarks, swissfrancs/austrian schilling (depends how you crossed the alps) and italian lira. you got robbed by kiosk exchanges every time you needed to change, you never really knew how much to change, if you changed too much, you got robbed again converting it all back to your dutch gulden. we are talking about one little trip of less than 1000 miles. what a clusterfuck that was.

I wonder how far back in time you have to go to find people travelling the countries (kingdoms?) of Europe with raw gold or silver bullion in their pockets to solve that problem? It seems odd that such a ubiquitous institution as precious-metals-as-money could be stifled so effectively without electronic banking acting as a gatekeeper.

I mean, before WW1, it was possible to travel Europe without a passport of any kind quite far into the East or South unimpeded, and no Shengen agreement or United States of Europe was required! Could it be that simple freedom to choose is the most powerful universal system there is! It's cheaper and more effective than federalsim/statism at playing the same ostensible role.
legendary
Activity: 2338
Merit: 2106
June 16, 2016, 02:25:25 AM
Quote from: marcusofaugustus
It is an interesting question. I saw other EU countries on the CIA list also, like France, germany, etc and wondered how they calculate that since the European Union has it's own M1 (euros) also ... I wonder if the member banks have an allotment of their own money stock that they get to manage separately from their 'euro' stock?

i think every euro member still has an operating central bank and they are printing "their" €. but they are not independent, they are under EZB supervision. frankfurt tells them what to do. i can recall that there are ways to differentiate between an italian € note and a dutch € note for example.  

The whole currency union concept is somewhat of a dubious implementation, driven by a bizarre form of pragmatism, in fairness. It's not just the cash portion of the money supply that is separate, the commercial banks in each Euro member state are also partitioned from each other, so there's actually a fair amount of friction between these conditionally integrated pools of Euro currency. It amounts to more de facto serfdom for the wage-slaves of the Euro area, as the ordinary everyday individual has little opportunity to take advantage of the common market using the Euro: several countries have laws banning more than a few thousand Euros of cash, opening bank accounts in countries with the more stable banking systems is not easy for non-citizens (hurray for the single market!), and cross border transfers from one Euro account to another with SEPA are still treated as foreign transfers from a legal/regulatory perspective.

It's almost as if trying to shoe-horn a single currency into an area with multiple established currencies is totally unnatural..... Grin

well said. i have to add though, that it ended a centuries long fuck up for every traveller crossing borders (in europe, the next border is just around the corner) when you wanted to travel from the netherlands to italy you had to convert your gulden into dmarks, swissfrancs/austrian schilling (depends how you crossed the alps) and italian lira. you got robbed by kiosk exchanges every time you needed to change, you never really knew how much to change, if you changed too much, you got robbed again converting it all back to your dutch gulden. we are talking about one little trip of less than 1000 miles. what a clusterfuck that was.
legendary
Activity: 3430
Merit: 3074
June 15, 2016, 06:46:03 PM
Quote from: marcusofaugustus
It is an interesting question. I saw other EU countries on the CIA list also, like France, germany, etc and wondered how they calculate that since the European Union has it's own M1 (euros) also ... I wonder if the member banks have an allotment of their own money stock that they get to manage separately from their 'euro' stock?

i think every euro member still has an operating central bank and they are printing "their" €. but they are not independent, they are under EZB supervision. frankfurt tells them what to do. i can recall that there are ways to differentiate between an italian € note and a dutch € note for example.  

The whole currency union concept is somewhat of a dubious implementation, driven by a bizarre form of pragmatism, in fairness. It's not just the cash portion of the money supply that is separate, the commercial banks in each Euro member state are also partitioned from each other, so there's actually a fair amount of friction between these conditionally integrated pools of Euro currency. It amounts to more de facto serfdom for the wage-slaves of the Euro area, as the ordinary everyday individual has little opportunity to take advantage of the common market using the Euro: several countries have laws banning more than a few thousand Euros of cash, opening bank accounts in countries with the more stable banking systems is not easy for non-citizens (hurray for the single market!), and cross border transfers from one Euro account to another with SEPA are still treated as foreign transfers from a legal/regulatory perspective.

It's almost as if trying to shoe-horn a single currency into an area with multiple established currencies is totally unnatural..... Grin
donator
Activity: 2772
Merit: 1019
June 15, 2016, 05:27:56 PM
i can recall that there are ways to differentiate between an italian € note and a dutch € note for example.   

last digit of the serial number, I think. I remember a time (couple years ago when the greek crisis started) when some people were actually preferrably spending "greek" 50 euro bills (with serial-numbers ending in "Y", I think) to spending other bills. There goes fungibility, I guess Wink
legendary
Activity: 2338
Merit: 2106
June 14, 2016, 03:38:58 PM

It is an interesting question. I saw other EU countries on the CIA list also, like France, germany, etc and wondered how they calculate that since the European Union has it's own M1 (euros) also ... I wonder if the member banks have an allotment of their own money stock that they get to manage separately from their 'euro' stock?

i think every euro member still has an operating central bank and they are printing "their" €. but they are not independent, they are under EZB supervision. frankfurt tells them what to do. i can recall that there are ways to differentiate between an italian € note and a dutch € note for example.   
legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
June 13, 2016, 08:02:14 AM

It is an interesting question. I saw other EU countries on the CIA list also, like France, germany, etc and wondered how they calculate that since the European Union has it's own M1 (euros) also ... I wonder if the member banks have an allotment of their own money stock that they get to manage separately from their 'euro' stock?
legendary
Activity: 3598
Merit: 2386
Viva Ut Vivas
legendary
Activity: 3598
Merit: 2386
Viva Ut Vivas
June 13, 2016, 07:29:26 AM
76. Guatemala

legendary
Activity: 1281
Merit: 1000
☑ ♟ ☐ ♚
June 13, 2016, 07:29:01 AM
77. Estonia



They have euro. Am I missing something?
legendary
Activity: 3598
Merit: 2386
Viva Ut Vivas
June 13, 2016, 07:27:25 AM
77. Estonia

legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
June 13, 2016, 05:57:28 AM
78. Kenya ... M1 ~ $10 billion
legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
June 13, 2016, 05:53:39 AM
79. Kazakhstan (situated along the old Silk Road ...)
legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
June 13, 2016, 05:50:45 AM
80. Ecuador
legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
June 13, 2016, 05:46:16 AM
81. Bolivia

Copacabana
legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
June 13, 2016, 05:44:41 AM
82. Azerbaijan

legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
June 07, 2016, 05:49:50 AM
ha, nice pics elwar ... I didn't want to post too soon and jinx it ... especially if bitcoin is going to be bigger than Panama.
legendary
Activity: 3598
Merit: 2386
Viva Ut Vivas
June 06, 2016, 11:56:49 PM
$9.1 million passed:

PANAMA


BAHRAIN


CROATIA
legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
June 03, 2016, 07:42:49 AM
At $8.6 bill bitcoin has surpassed
Sudan


and

Uzbekistan

Pages:
Jump to: