We have used for five months in Euros, Pounds Sterling, and after the third currency rubles, which restored to the Republic of Estonia has been in place. My hobbies include collecting old currency the famous past. Re looking at my collection, I realized that paper money is the worst way to collect or store of wealth, since it is guaranteed only for religious people. Its users are always lost and I have accumulated wealth is likely that the same will happen with the euro.
Paper money had invented about a thousand years ago Chinese people inappropriately. The Emperor had to go to war in a move horses, draft animals and carts. He borrowed the peasantry, and gave them a bond, which would be returned later by an equivalent animal or object. People began to hieroglüüfidega pieces of paper to use as a means of payment in coins, and was created a strong competitor, paper money.
Initially, bonds, banknotes, therefore, that the monarch or the central bank brought into circulation to pay for their purchases and spending, and that people use in their mutual purchase and sale transactions.
In the meantime, the money was meant, above all, precious metal coins, which were always in the metal price and value. In order to convince people that paper money is the same coin, it was printed in a quantity of precious metals. For example, printed 111 years ago, 25-rublasel is a portrait of Czar Alexander III, and the information that the state will replace the bank credit limit kuldmüntideks ticket (1 ruble = 1 / 15 gold rubles).
Also reported on the front of the ticket, the credit is equivalent to the whole empire kuldmündiga payment instrument and its makers threaten the hard labor and send all their assets confiscated. Security features, was the money tsar as a watermark portrait, a serial number and the signatures of Irish bank manager, and a cat specimens.
Paper Money Counterfeiting rängaks was a crime, because it undermines the authority of the government: the people would no longer be printed on the bonds and entrusted management would have to use precious cash. Gold and silver were costly wars and lifestyle toretseva never enough because the coins are minted to, hence kasutatigi enamesti payment bonds or paper money.
Could also cover the costs so that fewer were minted in precious metals, containing the earlier coins are smaller and thinner. Italy asked for the death of one ruler of all the Sub-threatening to pick gold coins and gave them thinner after sanding back. In retrospect we can call it võltsimisteks and making counterfeit money.
Enjoyed to the governments of paper money, because if the precious metal stocks are limited, you do not have a shortage of wood raw materials, paper and banknote printing machines to limit the production speed.
This allows the coating bonds or paper money into circulation laskjail enrichment. Inflation, of course, perhaps followed by each unit of currency depreciation, but the cost borne by those who served the paper money is losing value last. In everyday life, this translates into higher prices.
We all remember the days at the end of the Soviet Union, hyperinflation. Multiplied the price of goods in short time. 1. January 1990 Estonia introduced a minimum rate of 125 rubles a month, then two years later, it was 1000 rubles. 18. September 1992, the government established a minimum salary rate for the previous 300 kroons or 3000 rubles.
Monetary Reform, or conversion of notes outstanding is the main tool that enables the printing press of the consequences of too much exercise, or get rid of inflation.
Rubles exchanged with the 1992nd kroons in the rate of 10:1. That was before two of the ruble reform: the 1961st and 1947. Old money was exchanged at the beginning of a new design rubles a 10:1 ratio. After the war the German Estonia idamarku is exchanged, and lost all the wealth of their owners. Republic of Estonia Pounds rubles were introduced by 24th November 1940 and the official value for the level of 1 krone = 1.25 rubles, although the actual rate would have been 1:8. People lost their deposits, the standard of living fell, losses on sales of goods and prices soared.
Crown had been put into the 1928th in January and replaced the wet (100 DM = 1 krona). 1933rd it was devalued by 35 percent.
Pennid was wet and the Republic of Estonia in the years 1918-1927. The Bank of Estonia issued a 50 -, 100 -, 500 -, 1,000 - and 5,000 markka. Resulted in a rapid decline in the value of money that the 1924th Foreign trade was introduced, the gold crown (0.40 grams of gold).
During World War I were alternately in Russian rubles in circulation in Estonia and Germany, but the wet, the reader is probably already realized that the money collected in these times of paper wealth was lost. Rubladeltki abolished the tsarist gold guarantee, and those who were switched from a paper kuldrublad, the owners found themselves short of paper money.
The last reference to that paper money is the Treasury bond, which is punishable remade, and precious metals, which are secured, I found the 1991st in rubles. Koruna and euro is not. Chronic rate guarantee, however, other paper money had not been done very well, because prices and wages increased equally.
Than in 1992. The average gross salary was 549 kroons, in 2007. in one year was 11 328 euros krooni.15 the remaining 5 cents! Consumer price index, was only ten cents (Estonian Express', 10 April 2008).
Currencies against the dollar comparison would be much stronger krone 1.27 pm. After having read the argument that the U.S. dollar the 1990th the early purchase of the remaining force was 12 cents, I get to the conclusion that the purchasing power of paper money to other countries declined by one crown pace.
I should remind ourselves from time to time the old story that summarizes the nature of paper money. A Jew must be accompanied by a rabbi and asks whether she should keep the money in the bank or at home under the bed. Until the rabbi thinks that the answer to a knock on the door and take the young woman. Young wife wants to know whether he should go to bed pulmaööl nightdresses or in the nude. Rabi also think of this issue and says: "I will answer to both of you. Keep your money in the bank, or do not hold, place, or do not put the nightgown back - what happens to you, is still the one. "
26.05.2011 This article originally appeared in the newspaper Sakala
05/26/2011 Art "Paper money is deceiving '
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