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新西兰金融作业代写:货币的价值

从历史上看,一国货币的价值与一种价值稳定的商品挂钩,如黄金和白银。直到1971年理查德•尼克松将美元与黄金脱钩之前,大多数货币都是如此。供给和需求决定了法定货币的价值。政府可以控制流通总量,控制货币价值和通货膨胀。批评人士认为,加密货币最大的缺陷之一是,当需求高时,更多的代币无法进入流通。比特币的总量受到一种类似于贵金属开采的数字化生产过程的限制,这种过程可以防止比特币的价值受到系统性生产过剩和贬值的侵蚀,历史上许多法定货币都是如此。无法对需求做出反应导致加密货币的价值剧烈波动,使它们成为不可靠的价值储存手段。自今年年初以来,比特币的价值大幅飙升,这一点表现得最为明显。相反,由于法定货币不与实物储备挂钩,它们有可能因恶性通胀而变得一文不值。如果人们对一个国家的纸币失去信心,这些货币将不再具有价值。如果法定货币能够满足一个经济体对其货币单位的需求:储存价值、提供数字账户和促进交换,那么它就是一种不错的货币。由于法定货币不像黄金那样是一种稀缺或固定的资源,央行对其供应有更大的控制权,这让它们有能力管理信贷供应、流动性、利率和货币流通速度等经济变量。

新西兰金融作业代写:货币的价值

Historically, the value of a nation’s currency was pegged against a commodity with well-established value, such as gold or silver. This was the case for the majority of currencies up until 1971, when Richard Nixon decoupled the US dollar from gold. Supply and demand determines the value of fiat currency. Governments can control how much is in circulation and control the value of money as well as inflation. One of the biggest downfalls of cryptocurrency according to its critics, is the inability of more tokens to enter circulation when demand is high. The total amount of Bitcoin, is limited by a digital production process analogous to precious metal mining, which can stop its value from being eroded by systematic over-production and debasement as has been the case with numerous fiat currencies historically.18 This inability to react to demand causes sharp volatility in the value of cryptocurrency, making them unreliable stores of value. This has been most evident with the steep spikes in Bitcoin value since the beginning of the year. Conversely, as fiat currencies are not linked to physical reserves, they risk becoming worthless due to hyperinflation. If people lose faith in a nation’s paper currency, the money will no longer hold value.Fiat money serves as a good currency if it can handle the roles that an economy needs of its monetary unit: storing value, providing a numerical account and facilitating exchange. Because fiat money is not a scarce or fixed resource like gold, central banks have much greater control over its supply, which gives them the power to manage economic variables such as credit supply, liquidity, interest rates and money velocity.

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