Topic: Parity watch -> Who's next? - page 6. (Read 68289 times)
74. Slovenia
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.
correct. there was a rather liberal time before ww1.
before germany "deutsches reich" was formed 1871 you couldn´t even travel from hesse to bavaria without approval from government. even the right to travel for the traveling journeymen that was in place since medivial times was taken in the first half of the 19th century
75. ETHIOPIA M1 ~$11.5 billion
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.
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.....
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.
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.....
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
They have euro. Am I missing something?
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2214rank.html
Ok, thanks!
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.
They have euro. Am I missing something?
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2214rank.html
Ok, thanks!
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?
They have euro. Am I missing something?
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2214rank.html
Ok, thanks!
They have euro. Am I missing something?
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2214rank.html
76. Guatemala
77. Estonia
78. Kenya ... M1 ~ $10 billion
79. Kazakhstan (situated along the old Silk Road ...)
80. Ecuador
81. Bolivia
Copacabana
Copacabana
82. Azerbaijan
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.
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