Since ancient times, the world's money pays for goods and services produced in a foreign country.Thus, they are the basis of international agreements.For a long time the world's money has been expressed in the metal, that is, those considered only metal coins, especially made of precious species.
But in the evolution of economic relations coinage as the basis for currency stopped, due to inappropriate and expensive.It therefore became a welcome issue of paper money, the production of which was less expensive, but the value has not diminished substantially.
Currently, the world's money - it is the currency used in international transactions.The most widely used US dollar, then the euro and the Japanese yen.At the same time, experts believe that because of the crisis the US dollar will not be able to retain its leading position.Rather, in a decade to replace him will the Chinese yuan.But so far it is only the forecasts of economists in different countries.
modern world money take the following forms:
- currencies, most often used in the credit relationship.Earlier in the form of notes played.However, the disadvantage was that they could not serve as a means of payment in transactions with foreign partners.And with the creation of national credit money and the definition of specific international currency units operation from different countries is much simpler.
- International currency, which is used collectively.So far, no currency was not able to win the championship at the US dollar.Great hopes are pinned on the euro common currency in the European countries.But, as noted above, the US dollar turns over the place and has no analogues.
- More recently, there was such a form as the motto.They represent a non-cash money used in settlements with foreign counterparties.As these documents can distinguish letters of credit, money orders, checks, securities, promissory notes.
In addition, global money perform certain functions.
It is worth noting the fact that first of all the world's money to perform economic functions.The relationship between the contracting parties of different countries is largely hampered by the need to convert national currencies, ie the settlement of transactions require an additional agreement on the specific currency.With the advent of the global economic agents received money to exercise set-off of mutual claims and liabilities, and pay the balance due.Currently, such operations are not unusual, and large commercial banks conduct daily transactions netting.
But beyond the economic, political, and it is worth mentioning the function of world money.They are a tool that serves to achieve specific political goals.For example, inter-state loans, in some cases, force borrowing countries are loyal and act against their own interests.And some of the big political groupings hamstrings participating organizations, obliging them to provide financial assistance to States experiencing temporary difficulties.
In connection with defaults and crises, some economic subjects continue to trust only gold and other precious metals.And this is understandable, because for a long time been a single world currency is a gold coin.Over time it happened expulsion of international payments, and replaced by a hard currency (for example, the dollar or the euro).If earlier in the reserve fund of developed countries was about 80% of the gold, but now this figure has decreased markedly and is no more than 17%.It is connected with the development of cashless payments, and an artificial reduction in the price of gold from the leading countries.
