Altism And Glory Wall Street

This year, Russia has a huge date, as long as no one but us is unmarked. 700 years of Russian rouble (from the first mention in the summers 1316). We have asked to speak about the jubilee of three good Russian writers: Andreya Rubanova of Moscow, Herman Sadulaev of Petersburg and Eugenia Popov of Krasnoyarsk. Today is Rubanova's column.

In the history of money, it's accepted to earmark two huge times. The first is the period of gold parity, which continued from ancient times until 1944. In this year, in the USA, at a conference called subsequently Bretton-Wood, the gold parity was cancelled and perhaps permanent. A new era has begun.
I mean, if all citizens of Russia (or America, or Indonesia) are torn into banks and require the exchange of paper money for their equivalent in gold, States will not be able to do so, as the number of paper money is many more than the number of gold reserves.
Now, the real replenishment of the national currency does not provide gold, but the total strength of a national economy.
The American financial system has always been the best, and it is the Americans who decided to eliminate the gold standard that is not surprising. The Second World War came to an end, and America was very willing to buy the whole world cheaply, and gold was unhappiness, and now we decided to pay the paper bills.
Ultimately, Americans have won, so far the dollar remains the leading world currency, and the United States financial system is the world ' s largest payment system. Any payment in the currency, even if it is a transfer from Kazakhstan to Paraguay, usually takes place through correspondent accounts in American banks.
What about our shirt? What is our domestic financial system?
From the latest history, I have only one successful financial reform: it was carried out by a young Soviet State in the early 20s of the past century. NEP (new economic policy) was announced and a new unit of account was established: gold worm. In contrast to ordinary money, RSFSR rubles, gold worms could be exchanged for gold in any bank. There are nepmans here, people who trade food for the worms, that is, actually for gold. This measure enabled the authorities to revive the consumer market and eradicate hunger in at least large cities.
After the death of Lenin and the escape of Trotsky, the NEP has been phased out. Next, Comrade Stalin, Great Break, Industrialization, etc. No worms, no rubles. To survive, a young man was supposed to be on a construction site or a factory-- they gave food. ♪ ♪