Week Four Check Point in Fis/200
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- Date Submitted: 06/09/2011 01:39 PM
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Title of Paper: Check Point: The Euro
Student Name: Daniel Gurley
Course/Number: FIS/200 History of Money
Due Date (MM/DD/YYYY): 06/10/2011
Instructor Name: Herbert Y. Cheung
The reason why multiple countries would convert to a single currency would be to make international trade easier. Also, countries have been searching for a stable monetary media for centuries. When gold and silver surfaced back in the Roman Empire times, they found that these two commodities could be used as one monetary media that would put a value on already present currencies, and place them as leaders in trade and commerce. The problem has existed over centuries now within our economic system when governmental powers have abandoned the gold standard and moved towards a more free floating currency, devaluing the preexisting currencies. The effects have been a global devaluing of currency, and trade and commerce have seen the blunt end of the government’s decision making. By moving to a more stable monetary media, being that of a single currency, countries would be able to once again make trade and commerce easy; and stabilize the economic uncertainty we are facing right now. They would also be able to put a face value on the currency that would far exceed that of the devalued currency that is being represented right now.
One benefit would be the elimination of a devalued currency. Another benefit would be trade and commerce made easier with a single currency. Last but not least, the possibility of being a global leader not only in trade and commerce, but also in stocks and economic growth.
Student Name: Daniel Gurley
Course/Number: FIS/200 History of Money
Due Date (MM/DD/YYYY): 06/10/2011
Instructor Name: Herbert Y. Cheung
The reason why multiple countries would convert to a single currency would be to make international trade easier. Also, countries have been searching for a stable monetary media for centuries. When gold and silver surfaced back in the Roman Empire times, they found that these two commodities could be used as one monetary media that would put a value on already present currencies, and place them as leaders in trade and commerce. The problem has existed over centuries now within our economic system when governmental powers have abandoned the gold standard and moved towards a more free floating currency, devaluing the preexisting currencies. The effects have been a global devaluing of currency, and trade and commerce have seen the blunt end of the government’s decision making. By moving to a more stable monetary media, being that of a single currency, countries would be able to once again make trade and commerce easy; and stabilize the economic uncertainty we are facing right now. They would also be able to put a face value on the currency that would far exceed that of the devalued currency that is being represented right now.
One benefit would be the elimination of a devalued currency. Another benefit would be trade and commerce made easier with a single currency. Last but not least, the possibility of being a global leader not only in trade and commerce, but also in stocks and economic growth.