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International Monetary System
An international monetary system is a set of internationally agreed rules, conventions and supporting institutions that facilitate international trade, cross border investment and generally the reallocation of capital between states that have different currencies. It should provide means of payment acceptable to buyers and sellers of different nationalities, including deferred payment. To operate successfully, it needs to inspire confidence, to provide sufficient liquidity for fluctuating levels of trade, and to provide means by which global imbalances can be corrected. The system can grow organically as the collective result of numerous individual agreements between international economic factors spread over several decades. Alternatively, it can arise from a single architectural vision, as happened at Bretton Woods in 1944. Historical overview Throughout history, precious metals such as gold and silver have been used for trade, sometimes in the form of bullion, and from ear ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Trade
International trade is the exchange of capital, goods, and services across international borders or territories because there is a need or want of goods or services. (see: World economy) In most countries, such trade represents a significant share of gross domestic product (GDP). While international trade has existed throughout history (for example Uttarapatha, Silk Road, Amber Road, scramble for Africa, Atlantic slave trade, salt roads), its economic, social, and political importance has been on the rise in recent centuries. Carrying out trade at an international level is a complex process when compared to domestic trade. When trade takes place between two or more states factors like currency, government policies, economy, judicial system, laws, and markets influence trade. To ease and justify the process of trade between countries of different economic standing in the modern era, some international economic organizations were formed, such as the World Trade Organization ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foreign Exchange Market
The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices. In terms of trading volume, it is by far the largest market in the world, followed by the credit market. The main participants in this market are the larger international banks. Financial centers around the world function as anchors of trading between a wide range of multiple types of buyers and sellers around the clock, with the exception of weekends. Since currencies are always traded in pairs, the foreign exchange market does not set a currency's absolute value but rather determines its relative value by setting the market price of one currency if paid for with another. Ex: USD 1 is worth X CAD, or CHF, or JPY, etc. The foreign exchange market works thro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dutch Guilder
The guilder ( nl, gulden, ) or florin was the currency of the Netherlands from the 15th century until 2002, when it was replaced by the euro. The Dutch name ''gulden'' was a Middle Dutch adjective meaning "golden", and reflects the fact that, when first introduced in 1434, its value was about equal to (i.e., it was on par with) the Italian gold florin. The Dutch guilder was a ''de facto'' reserve currency in Europe in the 17th and 18th centuries. Between 1999 and 2002, the guilder was officially a "national subunit" of the euro. However, physical payments could only be made in guilders, as no euro coins or banknotes were available. The exact exchange rate, still relevant for old contracts and for exchange of the old currency for euros at the central bank, is 2.20371 Dutch guilders for 1 euro. Inverted, this gives 0.453780 euros for 1 guilder. Derived from the Dutch guilder are the Netherlands Antillean guilder (still in use in Curaçao and Sint Maarten) and the Surinamese gui ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Spanish Dollar
The Spanish dollar, also known as the piece of eight ( es, Real de a ocho, , , or ), is a silver coin of approximately diameter worth eight Spanish reales. It was minted in the Spanish Empire following a monetary reform in 1497 with content 25.563 g = 0.822 oz t fine silver. It was widely used as the first world currency, international currency because of its uniformity in standard and milling characteristics. Some countries countermarked the Spanish dollar so it could be used as their local currency. Because the Spanish dollar was widely used in Europe, the Americas, and the Far East, it became the first world currency by the late 18th century. The Spanish dollar was the coin upon which the original United States dollar was based (at 0.7735 oz t = 24.0566 g), and it remained legal tender in the United States until the Coinage Act of 1857. Many other currencies around the world, such as the Japanese yen and the Yuan (currency), Chinese yuan, were initially based on the Span ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Age Of Imperialism
Imperialism is the state policy, practice, or advocacy of extending power and dominion, especially by direct territorial acquisition or by gaining political and economic control of other areas, often through employing hard power (economic and military power), but also soft power (cultural and diplomatic power). While related to the concepts of colonialism and empire, imperialism is a distinct concept that can apply to other forms of expansion and many forms of government. Etymology and usage The word ''imperialism'' originated from the Latin word ''imperium'', which means supreme power, "sovereignty", or simply "rule". It first became common in the current sense in Great Britain during the 1870s, when it was used with a negative connotation. Hannah Arendt and Joseph Schumpeter defined imperialism as expansion for the sake of expansion. Previously, the term had been used to describe what was perceived as Napoleon III's attempts at obtaining political support through forei ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gold Dinar
The gold dinar ( ar, ﺩﻳﻨﺎﺭ ذهبي) is an Islamic medieval gold coin first issued in AH 77 (696–697 CE) by Caliph Abd al-Malik ibn Marwan. The weight of the dinar is 1 mithqal (). The word ''dinar'' comes from the Latin word denarius, which was a silver coin. The name "dinar" is also used for Sasanid, Kushan, and Kidarite gold coins, though it is not known what the contemporary name was. The first dinars were issued by the Umayyad Caliphate. Under the dynasties that followed the use of the dinar spread from Islamic Spain to Central Asia. Background Although there was a dictum that the Byzantine solidus was not to be used outside of the Byzantine empire, there was some trade that involved these coins which then did not get re-minted by the emperors minting operations, and quickly became worn. Towards the end of the 7th century CE, Arabic copies of solidi – dinars issued by the caliph Abd al-Malik (685–705 CE), who had access to supplies o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Denarius
The denarius (, dēnāriī ) was the standard Roman silver coin from its introduction in the Second Punic War to the reign of Gordian III (AD 238–244), when it was gradually replaced by the antoninianus. It continued to be minted in very small quantities, likely for ceremonial purposes, until and through the Tetrarchy (293–313). The word ''dēnārius'' is derived from the Latin ''dēnī'' "containing ten", as its value was originally of 10 assēs.Its value was increased to 16 assēs in the middle of the 2nd century BC. The word for "money" descends from it in Italian (''denaro''), Slovene (''denar''), Portuguese (''dinheiro''), and Spanish (''dinero''). Its name also survives in the dinar currency. Its symbol is represented in Unicode as 𐆖 (U+10196), a numeral monogram that appeared on the obverse in the Republican period, denoting the 10 asses ("X") to 1 denarius ("I") conversion rate. However it can also be represented as X̶ (capital letter X with combining long ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Roman Empire
The Roman Empire ( la, Imperium Romanum ; grc-gre, Βασιλεία τῶν Ῥωμαίων, Basileía tôn Rhōmaíōn) was the post-Republican period of ancient Rome. As a polity, it included large territorial holdings around the Mediterranean Sea in Europe, North Africa, and Western Asia, and was ruled by emperors. From the accession of Caesar Augustus as the first Roman emperor to the military anarchy of the 3rd century, it was a Principate with Italia as the metropole of its provinces and the city of Rome as its sole capital. The Empire was later ruled by multiple emperors who shared control over the Western Roman Empire and the Eastern Roman Empire. The city of Rome remained the nominal capital of both parts until AD 476 when the imperial insignia were sent to Constantinople following the capture of the Western capital of Ravenna by the Germanic barbarians. The adoption of Christianity as the state church of the Roman Empire in AD 380 and the fall of the Western ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Roman Currency
Roman currency for most of Roman history consisted of gold, silver, bronze, orichalcum and copper coinage. From its introduction to the Republic, during the third century BC, well into Imperial times, Roman currency saw many changes in form, denomination, and composition. A persistent feature was the inflationary debasement and replacement of coins over the centuries. Notable examples of this followed the reforms of Diocletian. This trend continued into Byzantine times. Due to the economic power and longevity of the Roman state, Roman currency was widely used throughout western Eurasia and northern Africa from classical times into the Middle Ages. It served as a model for the currencies of the Muslim caliphates and the European states during the Middle Ages and the Modern Era. Roman currency names survive today in many countries, such as the Arabic dinar (from the ''denarius'' coin), the British pound, and the peso (both translations of the Roman ''libra''). Authority to mint co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Persian Daric
The Persian daric was a gold coin which, along with a similar silver coin, the siglos, represented the bimetallic monetary standard of the Achaemenid Persian Empire.Michael Alram"DARIC" ''Encyclopaedia Iranica'', December 15, 1994, last updated November 17, 2011 Cyrus the Great (550–530 BC) introduced coins to the Persian Empire after 546 BC, following his conquest of Lydia and the defeat of its king Croesus, who had put in place the first coinage in history. It seems Cyrus initially adopted the Lydian coinage as such, and continued to strike Lydia's lion-and-bull coinage. Darius I (521–486 BC) introduced a new thick gold coin which had a standard weight of 8.4 grams, equaling in value 20 silver coins. The gold used in the coins was of very high quality with a purity of 95.83% and it bore the image of the Persian king or a great warrior armed with a bow and arrow. Their use ended with Alexander the Great's invasion in 330 BC, after which they were mostly melted down and reco ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hegemony
Hegemony (, , ) is the political, economic, and military predominance of one State (polity), state over other states. In Ancient Greece (8th BC – AD 6th ), hegemony denoted the politico-military dominance of the ''hegemon'' city-state over other city-states. In the 19th century, ''hegemony'' denoted the "social or cultural predominance or ascendancy; predominance by one group within a society or milieu" and "a group or regime which exerts undue influence within a society". In cultural imperialism, the leader state dictates the internal politics and the Society, societal character of the subordinate states that constitute the hegemonic sphere of influence, either by an internal, sponsored government or by an external, installed government. The term ''hegemonism'' denoted the geopolitical and the cultural predominance of one country over other countries, e.g. the hegemony of the Great power, Great Powers established with European colonialism in Africa, Asia, and Latin America. I ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arabic Numerals
Arabic numerals are the ten numerical digits: , , , , , , , , and . They are the most commonly used symbols to write Decimal, decimal numbers. They are also used for writing numbers in other systems such as octal, and for writing identifiers such as computer symbols, trademarks, or license plates. The term often implies a decimal number, in particular when contrasted with Roman numerals. They are also called Western Arabic numerals, Ghubār numerals, Hindu-Arabic numerals, Western digits, Latin digits, or European digits. The ''Oxford English Dictionary'' differentiates them with the fully capitalized ''Arabic Numerals'' to refer to the Eastern Arabic numerals, Eastern digits. The term numbers or numerals or digits often implies only these symbols, however this can only be inferred from context. It was in the Algerian city of Béjaïa that the Italian people, Italian scholar Fibonacci first encountered the numerals; his work was crucial in making them known throughout Europe. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
