Talk:Currency

Wouldn't it be better if the currency codes appeared in parentheses after each country name in the first table? --Pinkunicorn

The history section of this page is desparately in need of a re-write. It is misleading, garbled and ummm.... {bites tongue}. I have no time to fix it right now. Perhaps someone else could have a go . Octothorn 07:31 22 May 2003 (UTC)

With the advent of the Euro, the Lira, Peseta, and other European currency signs now belong in the history section.

Why is the Tanzanian shilling not included in the list?

It is erroneous to imply the ISO 4217 obsoletes national currency symbols; that is not its purpose. It should, however, be considered to obsolete previous ad-hoc symbols for distinguishing national currencies with the same symbol, particularly the many dollars (e.g., CDN$, A$, NZ$, etc.). 18.24.0.120 04:11, 26 Jan 2004 (UTC)

Which is the proper format, to capitalize or not capitalize the currency name? For example, we have Australian dollar, but Mexican Peso Nik42 19:49, 16 Jan 2005 (UTC)

Never mind, I fixed it. I noticed that the ones like Mexican Peso were redirects to the non-capitalized versions Nik42 02:32, 18 Jan 2005 (UTC)

Some sections, like Privately-issued currencies are repeated.

 This should be fixed.

Contents

1 Crowns 2 Deletet some repeated text 3 Independence vs. Private Corporation 4 canadian money

Crowns

If krona/krone are to be merged (which I support), then the Czech koruna and Estonian kroon should also join the family. Jpatokal 13:57, 17 Feb 2005 (UTC)

disagree as this edit looses information, ie what currency applies to which country (and v.v.). Yes they are a 'family' of Crowns but the individual names and relevance (ie country of origin) must be retained across that edit - the primary point of having a reference work like WP imho! List them in a tree, but don't 'merge'. --Vamp:Willow 15:24, 18 Feb 2005 (UTC)

Huh? I'm not proposing that country names be removed, I'm proposing that we move all the crowns under the same heading, and then list the exact name and country under the heading. Jpatokal 03:21, 21 Feb 2005 (UTC)

Deletet some repeated text

I just removed some text that was repeated:

A currency is a unit of exchange, facilitating the transfer of goods and services. It is a form of money, where money is defined as a medium of exchange rather than e.g. a store of value. A currency zone is a country or region in which a specific currency is the dominant medium of exchange. To facilitate trade between currency zones, there are exchange rates i.e. prices at which currencies (and the goods and services of individual currency zones) can be exchanged against each other. Modern currencies can be classified as either floating currencies or fixed currencies based on their exchange rate regime.

Typically, each country has given monopoly to a single currency, controlled by a state owned central bank, although exceptions to this rule exist. Several countries can use the same name, each for their own currency (e.g. Canadian dollars and US dollars), several countries can use the same currency (e.g. the euro), or a country can declare the currency of another country to be legal tender (e.g. Panama and El Salvador have declared US currency to be legal tender).

Each currency typically has one fractional currency, often valued at 1/100 of the main currency: 100 cents = 1 dollar, 100 centimes = 1 franc. Units of 1/10 or 1/1000 are also common, but some currencies do not have any smaller units. Mauritania and Madagascar are the only remaining countries that do not use the decimal system; instead, the Mauritanian ouguiya is divided into 5 khoum, while the Malegasy ariary is divided into 5 iraimbilanja. However, due to inflation, both fractional units have in practice fallen into disuse.

was repeated under:

The Paper Money Era

Independence vs. Private Corporation

To preempt a revert war, I think we should settle whether the Fed is an independent agency or a private corporation. The case law cited refers to Tort liablity rather than monetary independence. The relevant staute stating that Congress can dissolve Fed Reserve is here: http://www4.law.cornell.edu/uscode/12/usc_sec_12_00000341----000-.html. The text: "To have succession after February 25, 1927, until dissolved by Act of Congress or until forfeiture of franchise for violation of law."

In an article on currency, the relevant axis on analysis is monetary policy. The Fed's power in this area is clearly given by Congress, and what Congress gives, it can take away. The Fed's status as a private corporation in regards to Tort law is much less relevant in a currency article.

Also, we don't want to bog down on the US Fed's status in the intro paragraphs that should give general overview to all users from all countries. No US-only focus. Feco 03:06, 7 Apr 2005 (UTC)

Further, refer to Federal_Reserve#Who_owns_the_Federal_Reserve on this. Discussion about the Fed's status belongs on the Fed' wiki page to begin with.

I'll also refrain that a court ruling about tort liablity of Federal government for the Federal Reserve's actions DOES NOT apply to monetary policy. Feco 03:46, 7 Apr 2005 (UTC)

Governments don't rule central banks, central banks rule governments. If you want to just give the "public relations" perspective on things then remove my editings and replace them with a link to the FED's website. But if you want to provide something which accurately depicts the reality of currency, what it is and how it functions in society and how it is manipulated in ways not beneficial to citizenry of soverign nations, then at the very least you it should just MENTION that ultimate *OWNERSHIP* of central bank *SHARES* lie with *PRIVATE* entities (namely the banking families of Europe who have been around for quite some time now).

http://en.wikipedia.org/wiki/Criticism_of_the_Federal_Reserve

Yes, the criticism article is linked to from the Fed wiki article. It is NOT linked to from the Currency article, because there is no place for it here. The generic overview of monetary authority and how it relates to currency is sufficient. People looking for more in-depth research will go to the Fed article.

FYI- in the US, shares of Fed Reserve branches are held by member banks. This is by law. The shares are non-tradable, carry no voting authorty, and pay a paltry dividend (which is partial compensation for the fact that Fed pays no interest on member banks' deposits). The "owners" of CBanks have no authority over the exercise of monetary policy, since the authority to exercise policy is explicitly granted to monetary authorites by legislative bodies. That authority can easily be revoked if the Bank oversteps its bounds (say, by promoting the interest of its shadowy 'owners').

Per your post above, I'm going to "just give the PR perspective" and revert your edits. Feco 18:25, 7 Apr 2005 (UTC)

canadian money