World money - a feature in which money serves the movement of value in the international economic circulation and ensure the implementation of the relationship between the two countries.Allocation function of world money due to the peculiarities of the movement of value in the global market, which are determined by dividing the market by national boundaries. Through this division there appears a specific subject of economic relations - the state that represents and defends the interests of the country as a whole. Therefore, the global market there are economic differences of a higher level than the internal, which affect both the immediate relations of buyers and sellers.First of all, there is distrust of foreign contractors to the regalia, which conferred upon their national government money, in particular to the identity of Troy or the mandatory acceptance of banknotes in all types of payments. Particularly acute is felt in the early formation of the world market because of what the money would be there only in the form of ingots of precious metals, removing, the expression of Karl Marx, their "national uniform". Therefore, in those circumstances the function of world money served only full of money. Their reception in payments were made for weight, not the number of coins.
Money in the world market serve as a general means of payment, the total means of purchase and the means of transferring wealth from one country to another. So, world money - this is a complex function, which repeats, in essence, all of the features inherent in the domestic money market.
This fact gave reason to many researchers did not allocate money to the world as a separate function. From this position could be acceptable if all the national currency were freely converted. Nevertheless, it is not - the functioning of money most of them only limited by national boundaries. And when the economic agents in such countries go global, they need very different money. That is, language here is not just a new direction for the use of money, and the other for the essence of money, which gives us reason to single out the world's money in a separate function.If the world's money is used to pay off debts related to foreign trade, banking and financial loans, etc., they function as a means of payment. When they are spent for the immediate purchase of goods or services, and instead of them a certain amount, which are exported (sent), the country imported the equivalent value of the commodity, they function as a means of purchase. Using this feature less convenient than the first because it requires the previous accumulation of reserve money of the world. Therefore, it is less common - in the cases of some extraordinary events, when the normal balance rises exchange between countries (crop failure, natural disaster, social unrest), there is a distrust of the solvency of the foreign counterparty.If the world moves money from one country to another without a counter-movement of commodity equivalents or debt repayment, they provide a transfer of wealth. This is the case when paying indemnities, reparations, borrowing money or assistance, export of money immigrants, shady businessmen and the like.Global money serves as a measure of value and counting units, as the national rates of any country can not fully meet the needs of the world market and it formed its own system of prices.The most difficult issue in understanding the function of world money have questions about the form in which money it is performed. Some economists believe that even now this function can perform and performs only the gold. Others argue that, referring to the fact that gold was no longer directly used for any payments on the world market. The sale of gold there for the national currencies of trade they see as normal, and no money commodity.In fact, the mechanism of function of world money continually evolved with the development of economic relations in the global market. When these relations reached a high level of reciprocity, which arose the opportunity to repay the requirements for payment by credit or transfer of debt without transfer of gold for each payment. Such work is carried out commercial banks, including the organization of international payments. Gold they have to send each other for balance of payment arrears. There were still apparent partial use of gold as a means of payment in international markets.After the abolition of the gold standard, and many states prohibit private gold transactions banks lost the ability to use gold to settle the payment with other nations. Such a right is left only with the central banks and treasuries. They can sell the gold market as one of national currencies, which are trusted by the world market, and to pay off its debts. This mechanism is essentially unchanged after the abolition of the 70-year ban on those private gold transactions in the leading countries of the world. Commercial banks and even got the right to transactions in gold, yet not use it for mutual payments, even to pay off the balance of mutual debts. They tend to sell gold on the market for hard currency and to pay her payments.Thus, under current conditions in international markets the world's money, especially as the payment and purchasing tools perform successfully in the "national uniform", so even without the inside of the substantial cost. What causes this? What subjects of international payments relations began to trust national currency as the world?These transformations caused most of the world economy and the development of appropriate changes in the international payment to him relations.First, it is a wide world market with a system of interconnections and interdependencies between its subjects, with extensive development of the relationship between credit and banking services. In such circumstances, the world's money in most cases operate immediately and no longer need to use for this high-grade money. Signs of the cost of steel to meet the requirements of the new market to the world of money.Second, the economic potential of individual countries dosyag enormous size, which gave them the confidence to provide States with an opportunity to their national money as the real carriers of exchange value, not only on the domestic and the international markets.Third, the most radically changed the relations between states, compounded by economic confrontation to cooperation of the general regulation of the global economic space and money relations as the most difficult part of it. Joint efforts of the country began to build mechanisms to ensure high confidence to one of the permanent national currency (eg U.S. dollar), as well as create new transnational currency with the same qualities (SDR, the ECU, the euro). And while the subjects of the world market will be confident that they can buy for the money they need goods until they take them in payment, without the need of gold. This is confirmed in large-scale modern practice of international payments, which have been successfully implemented in national currencies converted freely by individual countries or international currencies.
Money in the world market serve as a general means of payment, the total means of purchase and the means of transferring wealth from one country to another. So, world money - this is a complex function, which repeats, in essence, all of the features inherent in the domestic money market.
This fact gave reason to many researchers did not allocate money to the world as a separate function. From this position could be acceptable if all the national currency were freely converted. Nevertheless, it is not - the functioning of money most of them only limited by national boundaries. And when the economic agents in such countries go global, they need very different money. That is, language here is not just a new direction for the use of money, and the other for the essence of money, which gives us reason to single out the world's money in a separate function.If the world's money is used to pay off debts related to foreign trade, banking and financial loans, etc., they function as a means of payment. When they are spent for the immediate purchase of goods or services, and instead of them a certain amount, which are exported (sent), the country imported the equivalent value of the commodity, they function as a means of purchase. Using this feature less convenient than the first because it requires the previous accumulation of reserve money of the world. Therefore, it is less common - in the cases of some extraordinary events, when the normal balance rises exchange between countries (crop failure, natural disaster, social unrest), there is a distrust of the solvency of the foreign counterparty.If the world moves money from one country to another without a counter-movement of commodity equivalents or debt repayment, they provide a transfer of wealth. This is the case when paying indemnities, reparations, borrowing money or assistance, export of money immigrants, shady businessmen and the like.Global money serves as a measure of value and counting units, as the national rates of any country can not fully meet the needs of the world market and it formed its own system of prices.The most difficult issue in understanding the function of world money have questions about the form in which money it is performed. Some economists believe that even now this function can perform and performs only the gold. Others argue that, referring to the fact that gold was no longer directly used for any payments on the world market. The sale of gold there for the national currencies of trade they see as normal, and no money commodity.In fact, the mechanism of function of world money continually evolved with the development of economic relations in the global market. When these relations reached a high level of reciprocity, which arose the opportunity to repay the requirements for payment by credit or transfer of debt without transfer of gold for each payment. Such work is carried out commercial banks, including the organization of international payments. Gold they have to send each other for balance of payment arrears. There were still apparent partial use of gold as a means of payment in international markets.After the abolition of the gold standard, and many states prohibit private gold transactions banks lost the ability to use gold to settle the payment with other nations. Such a right is left only with the central banks and treasuries. They can sell the gold market as one of national currencies, which are trusted by the world market, and to pay off its debts. This mechanism is essentially unchanged after the abolition of the 70-year ban on those private gold transactions in the leading countries of the world. Commercial banks and even got the right to transactions in gold, yet not use it for mutual payments, even to pay off the balance of mutual debts. They tend to sell gold on the market for hard currency and to pay her payments.Thus, under current conditions in international markets the world's money, especially as the payment and purchasing tools perform successfully in the "national uniform", so even without the inside of the substantial cost. What causes this? What subjects of international payments relations began to trust national currency as the world?These transformations caused most of the world economy and the development of appropriate changes in the international payment to him relations.First, it is a wide world market with a system of interconnections and interdependencies between its subjects, with extensive development of the relationship between credit and banking services. In such circumstances, the world's money in most cases operate immediately and no longer need to use for this high-grade money. Signs of the cost of steel to meet the requirements of the new market to the world of money.Second, the economic potential of individual countries dosyag enormous size, which gave them the confidence to provide States with an opportunity to their national money as the real carriers of exchange value, not only on the domestic and the international markets.Third, the most radically changed the relations between states, compounded by economic confrontation to cooperation of the general regulation of the global economic space and money relations as the most difficult part of it. Joint efforts of the country began to build mechanisms to ensure high confidence to one of the permanent national currency (eg U.S. dollar), as well as create new transnational currency with the same qualities (SDR, the ECU, the euro). And while the subjects of the world market will be confident that they can buy for the money they need goods until they take them in payment, without the need of gold. This is confirmed in large-scale modern practice of international payments, which have been successfully implemented in national currencies converted freely by individual countries or international currencies.
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