Reading Notes on Finance (for reference only) Lesson 65438 +0 Money and Monetary System? Currency? Monetary system? International monetary system. Money: Origin, Form, Function and Essence (1) Origin of money 1. On the origin of ancient money —— Aristotle's view of "intermediate goods" —— China's view of the origin of "exchange process" by Guan Zi, the former king and Sima Qian II. Marx's theory of the origin of money-historical clues-logical clues (2) the form of money 650. Monetary materials: shellfish, gold, silver, copper and iron (called money), paper money? Forms of existence: tangible money and intangible money? Value preparation: commodity currency and credit currency II. Evolution of monetary form (from the perspective of historical materialism)? Common equivalents are converted into monetary forms: physical currency is dominant? Around 1500 BC, physical money was converted into metal money? After 1930s, the form of money changed from metal money to credit money. Concepts related to the form of money? Monetary materials: materials or articles used as money, which are not completely exclusive. What are the four basic requirements of commodity exchange for monetary materials? Coin: a metal coin with a certain shape, whose weight and fineness are proved by the national seal, and has gone through the process from full value to insufficient value? Bank bills: credit instruments issued by banks have gone through the process from redemption to non-redemption, and from decentralized issuance to centralized issuance? Paper money: a symbol of paper money in circulation, usually issued by the government? Currency of deposit: current deposit that can be issued by cheque for transfer settlement and cash withdrawal? Electronic money: the deposit currency in the bank computer system, which can be used for cash withdrawal and payment settlement at any time. 4. The difference between paper money and bank notes-different functional basis: paper money-the function of circulation means; Bank notes-means of payment-are issued in different ways: paper money is issued by the state relying on political power, and bank notes are issued by banks through credit channels-with different redemption degrees: paper money cannot be cashed, but bank notes can be converted into metal money at any time. 5. The development of currency forms-relying on the development of computers and the Internet-has a paperless trend. Bank card-conceptualization of transaction process (3) Function of money 1. Give the transaction object a price form: the value scale-the function of money to express and measure the value of all other commodities-the monetary unit-the reciprocal of the price is the purchasing power of money-and the function of realizing the value scale can be a conceptual or imaginary currency. 2. Transaction medium or circulation means-money acts as a medium of exchange in commodity circulation-it must be realistic money to perform the function of circulation means-price and media transaction constitute the core of money. 3. Means of payment-the currency that ends the circulation process plays the role of means of payment-it must be a realistic currency as an independent movement form of value. 4. Accumulate and store value-money is regarded as a society. The general representative of social wealth is preservation-the storage of gold and silver is a typical form-bank deposit, direct storage of paper money 1. The definition of functional perspective-currency is generally accepted in exchange-the unity of value scale and circulation means is currency. 2. Universal equivalent-a special commodity separated from the commodity world and used as a unified value expression of other commodities: precious metals-the universal equivalent form in the market economy: paper money. 3. Money and liquidity-liquidity is an overview of the idea of trading relative commodities or financial assets-liquidity refers to the money in the process of trading. 4. Social computing tools and social voting-social demand is social computing and money is a tool-consumers use money to buy goods to decide social production, which is equivalent to voting with money. 2. Monetary system (1) Monetary system composition 1. Monetary system refers to the currency circulation structure and organizational form determined by the state in legal form. Including:-determination of monetary materials-determination of monetary unit: name and value of monetary unit-determination of currency types in circulation: primary currency and secondary currency-casting and issuance management of different currencies-provisions on payment ability of different currencies 2. Concepts related to monetary system? The functional currency, also known as the main currency, is the basic currency of a country and is generally used as the legal price standard of the country. What is the minimum specification 1 currency unit? Secondary currency, a small denomination currency lower than the bookkeeping base currency, is equivalent to the bookkeeping base currency. Secondary currency is generally a currency with insufficient value, which is forced to circulate according to the legal proportion? Unlimited legal compensation and legal protection for currencies with this ability mean that no matter how big the payment is, no matter what kind of payment it belongs to, the other party cannot refuse to accept it. ? Limited legal compensation means that in one payment, if the amount exceeds the prescribed amount, the payee has the right to refuse, but not within the statutory limit. ? Gresham's law, that is, bad money drives out good money, means that when two currencies with different actual values but the same legal price circulate at the same time, the currency with higher market price (good money) will be rejected by the currency with lower market price (bad money), and the good money will be withdrawn from circulation and stored, while the bad money will flood the market? Currency substitution, under the credit currency system, when there is currency instability between local currency and foreign currency, the softer currency will be sold and the harder currency will be snapped up and recovered. (2) Development and evolution of the monetary system 1. Renminbi is the legal tender in Chinese mainland, with the yuan as the main monetary unit and the cent as the auxiliary monetary unit. All of them have unlimited legal compensation capacity-RMB19481issued in February-RMB19551issued in March-at present, there are 7 main RMB currencies and 6 auxiliary RMB currencies. 2. RMB is a credit currency-RMB does not stipulate the gold content. It is a non-cash currency-RMB exists in the form of cash and deposit currency. 3. The People's Bank of China manages the issuance of RMB-by managing the currency issuance fund and the business bank of commercial banks. 3. International monetary system (system) (1) Bretton Woods system 1,1in July 1944, the IMF agreement was reached; 2. Double-linked fixed exchange rate system; 3. Crash1973; 2. Floating exchange rate system (Jamaica system)1; Legalization of floating exchange rate; Non-monetization of gold; 2. Currency board system: linked to anchor currency; Release preparation 3. Dollarization: the local currency is replaced by USD 1 European monetary system-the emergence of the euro-1957 Treaty of Rome, 1969, 1979 February, the plan of establishing European economic and monetary union was put forward-1March 1993,165438. 1995 65438+February confirmed the unified currency as euro-1998 European central bank was established-1999 65438+1October officially launched the euro-65438+1October 2002. Coin 2 euros, 1 euro, 50 euro cents, 20 euro cents,/kloc-0 euro cents, 5 euro cents, 2 euro cents,/kloc-0 euro cents-euro zone countries: 1 2 countries France, Germany, Italy, Netherlands, Belgium, Luxembourg, Austria. 2. Briefly describe the evolution of monetary form. 3. Briefly describe the contents of Hong Kong's linked exchange rate system. 4. Comment on the advantages and disadvantages of dollarization. 5. Briefly describe the significance of euro to the development of monetary system.