Currency Wars, or Why You Should Care About the Global Struggle Over the Value of Money In October 2010, the Brazilian Finance Minister made news by claiming an 'international currency war' had broken out. The term 'currency war' promptly became a buzz phrase with commentators and public officials warning about the dangers of these wars and their historical roots in the Great Depression. The U.S. government, in turn, has applied the idea to China, which it has accused of currency manipulation for the better part of a decade. So why does this matter? And how unusual is this all? Historian Steven Bryan puts currency wars in historical perspective and reminds us that currency policy is inextricably linked to national interests and that manipulation is the historical norm, not the exception. [more inside]
posted by infini
on Jul 19, 2014 -
It's Time For a Hard Bitcoin Fork.
"A Bitcoin mining pool, called GHash and operated by an anonymous entity called CEX.io, just reached 51% of total network mining power today. Bitcoin is no longer decentralized. GHash can control Bitcoin transactions."
posted by chunking express
on Jun 14, 2014 -
Across Canada a beloved and familiar face is silently disappearing. Everyday transactions in shopping centers and banks are slowly feeding a systematized extinction unnoticed by most. The object of destruction: the Canadian penny. -- via PBS NewsHour
posted by jim in austin
on Apr 22, 2014 -
In China, there are certain "bad notes" that frighten people and are refused as legal tender. Why?
posted by reenum
on Jan 16, 2014 -
"Defacement of currency is a violation of Title 18, Section 333 of the United States Code. Under this provision, currency defacement is generally defined as follows: Whoever mutilates, cuts, disfigures, perforates, unites or cements together, or does any other thing to any bank bill, draft, note, or other evidence of debt issued by any national banking association, Federal Reserve Bank, or Federal Reserve System, with intent to render such item(s) unfit to be reissued, shall be fined under this title or imprisoned not more than six months, or both. Defacement of currency in such a way that it is made unfit for circulation comes under the jurisdiction of the United States Secret Service." - source
"Defaced Money" tagged Tumblr posts
, 11 more impressive examples of creatively defaced currency
, 101 Unusual, Impressive And Illegal Pieces Of Defaced Currency
, and some cool guitar picks
posted by spock
on Jan 7, 2013 -
A new initiative recently proposed by the Royal Canadian Mint proposes to create the MintChip, a digital currency that’s similar (to BitCoin), but is backed by the Canadian government.
Aiming to become “the digital equivalent of the coins we use every day,” in the Canadian Mint’s own words, the MintChip will target micro- and nano-transactions conducted both online and offline, whether at the physical point of sale, on mobile devices, or among peers. Via
posted by infini
on Apr 20, 2012 -
Note Worthy: [guardian.co.uk]
Global economic meltdown, the euro crisis and Occupy protests – this year has been dominated by financial issues. But what is money anyway? We invited writers and artists including Jonathan Franzen, Margaret Atwood and Naomi Klein to invent new currencies and banknotes for a changed world.
posted by Fizz
on Dec 17, 2011 -
Out of thin air?
"Have you ever said something like 'Let me buy you a beer next week'? I'm sure you have. We all issue promises of this sort. And we frequently use such promises as a form of currency... I have just described a simple credit exchange. Societies rely heavily on promising-making and promise-keeping. It is the foundation of all financial markets. I'd like to point out something about the promises you make. They are made 'out of thin air.' " [more inside]
posted by kliuless
on Apr 14, 2011 -
*Sooo* much hotter than Andrew Jackson. Sveriges Riksbank
has announced that great Greta Garbo
will grace the sexy, new blue-themed 100 Krona note, Sweden's closest equivalent to the US $20 bill. In April, the Riksbank is announcing a design competition for the banknotes, with the final design selected by early 2012, and the currency released by 2014-2015. Other new faces in Sweden's complete currency makeover include author Astrid Lindgren
, musician Evert Taube
, director Ingmar Bergman
, sopranist Birgit Nilsson
, and diplomat Dag Hammarskjöld
posted by markkraft
on Apr 6, 2011 -