By PaperMoneyMan, on August 5th, 2011%
Question by puddingpixie: World Finance Crisis – where has the money gone?
I’m having difficulty understanding how the whole world can have less money than it used to. Surely money is just paper that represents resources which are of value… The money isn’t leaving the planet so how can the whole planet have lost money? Is it just because we’ve lost resources by using irrenewable resources?
Please somebody explain this to me as simply as possible. I just don’t understand where the money has gone!
Best answer:
Answer by Spotty JMoney is NOT “paper that represents resources”, hence your confusion. Money is an abstract thing used as a medium of exchange that is only sometimes represented in paper form, but that’s beside the point. Money is both created and destroyed everyday even in normal times, but the issue here isn’t really money-destruction.
The problem we’ve had is the destruction of WEALTH or VALUE, not money per se. For example, two key parts of the problem are the crash in house prices in the U.S.., and the decline in value of mortgage-backed securities as the rise . . . → Read More: World Finance Crisis – where has the money gone?
By PaperMoneyMan, on August 4th, 2011%
Question by Junebug: Where can I exchange European coins?
I have a lot of change (not cash) left over from my trip to Europe and I want to exchange it for cash. It’s equates to about $ 50. The problem is most places only take foreign paper money and not the coins ( even though there are a lot of dollar coins and euros) I live in PHX anyone know where I can do this for cheap?
Best answer:
Answer by ChristopherI dont know
Know better? Leave your own answer in . . . → Read More: Where can I exchange European coins?
By PaperMoneyMan, on July 31st, 2011%
Question by parixit: How much money any country’s government can create(paper money r fiat money)?
is there any restrictions on money creation by world bank or any other source? If one country create more fiat money, what will be the effect on its currency exchange rate?
Best answer:
Answer by zeconiferz11there is no international restriction limiting how much paper money a country can print. however, countries choose not to because it makes the currency worth less and increases inflation.
Know better? Leave your own answer in . . . → Read More: How much money any country’s government can create(paper money r fiat money)?
By PaperMoneyMan, on July 28th, 2011%
Question by Dexter Morgan: Where can i buy World paper currency online for cheap?
Im looking to buy some different currency from all around the world for cheap, i don’t want collectible like 1920′s i just want a normal currency bills from different countries that don’t cost 50x what they are worth. I just want normal everyday currency’s. I tried ebay but most are old bills and going for alot of money.
Best answer:
Answer by JulieDYou can buy collectible World paper money for cheap on eBay if you search right (not sure what your definition of cheap is but I searched for a set of bills for less than $ 50) at
http://rover.ebay.com/rover/1/711-53200-19255-0/1?icep_ff3=9&pub=5574634183&toolid=10001&campid=5335994191&customid=&icep_uq=lot&icep_sellerId=&icep_ex_kw=&icep_sortBy=12&icep_catId=3411&icep_minPrice=&icep_maxPrice=50&ipn=psmain&icep_vectorid=229466&kwid=902099&mtid=824&kw=lg
What do you think? . . . → Read More: Where can i buy World paper currency online for cheap?
By PaperMoneyMan, on July 27th, 2011%
Question by The Prodigy: Doesn’t everyone realise that, what the whole world knows as money is just little bits of metal and paper?
I mean, it is crazy, but in some ways magnificent. How the whole world adapted to money.
Best answer:
Answer by mojohairkeep smokin’ dude
What do you think? . . . → Read More: Doesn’t everyone realise that, what the whole world knows as money is just little bits of metal and paper?
By PaperMoneyMan, on July 22nd, 2011%
Question by Gavin Cato: Has any society benefitted from paper money?
When you factor in inflation and counterfeiting, how has any society materially benefitted from paper money, issued by a government monopoly central bank? Keep in mind that the whole world used metallic coins until the 20th century.
Best answer:
Answer by Don MaddieCoins can be counterfeited as well (and they were when they had value) and are more expensive to manufacture by the government.
Today, it would be much easier to counterfeit a coin, than it would be a paper bill. Nobody does it, because hardly any coins have any real value. You cannot remove counterfeiting all together.
Edit:
Also when paper money was put into circulation, it was close to impossible for the normal man to counterfeit it. However, at the time, many people could easily counterfeit coins.
Give your answer to this . . . → Read More: Has any society benefitted from paper money?
By PaperMoneyMan, on July 21st, 2011%
Question by Noah H: If paper money has no value, why do people want so much of it?
The GOP folks running for president are all in favor of dumping the Federal Reserve because they ‘issue debt’ not ‘real money’. Gold and silver would be nice, but realistically there isn’t enough of it in the world to back all the currency in the world. The Fed more or less prevents the printing of too much money or too little. Too much means inflation, too little means depression. If All the ‘dollars’ that China has were redeemable in gold, wouldn’t they have all the gold and we’d have a lot of ‘paper’?
Best answer:
Answer by AdamWe want so much of it because you can buy things with it (at least you can buy American products with it) so it has value
Know better? Leave your own answer in . . . → Read More: If paper money has no value, why do people want so much of it?
By PaperMoneyMan, on July 3rd, 2011%
Question by Adena Buyer: As an individual in the USA, forwarding funds for foreign companies, do I have to file any paper work?
My friend’s company is based out of the USA. And they use Paypal as one of their means of collecting funds. Paypal does not support Bank Transfer to their country.
What my friend’s company does is, they transfer a certain amount of money from their Paypal account to my Paypal account everyday. I withdraw the Paypal funds into my Bank Account, then cash the money. I then forward the cash via Western Union to my friend’s Bank Account in the foreign country.
I am not profiting a cent from this. I am just doing him a favor. My friend’s company is legitimate, and the money is clean. And he is not subjected to any tax in the USA.
Do I have to file any paper work? As I know that this might trigger off an alarm with the banking and money system.
Best answer:
Answer by question_ahoyDepends on the amount of money, and possibly where it’s going. In general, though, it’s getting tougher to . . . → Read More: As an individual in the USA, forwarding funds for foreign companies, do I have to file any paper work?
By PaperMoneyMan, on June 24th, 2011%
Question by GARYGARY: Do you know any Websites except Ebay- that you can buy or sell Banknotes- & coins in USA please advise.?
World Coins- & world Banknotes SETS. Thank you!
Best answer:
Answer by StevenTry here. You can also get a free listing for 30days.
https://www.bigvaluedepot.com/store/?affSponsorID=194428
Give your answer to this . . . → Read More: Do you know any Websites except Ebay- that you can buy or sell Banknotes- & coins in USA please advise.?
By PaperMoneyMan, on June 23rd, 2011%
Question by ________________________________: What are foreign governments actually giving us when we borrow money from them?
I have asked this once and only received two answers…
Answer 1:
“the imported goods that we “buy” from them.”
What do goods imported by the private sector have to do with government funding?
Answer 2:
“Your question answers itself – money – to be repaid with interest.
Since we’re inflating our currency now, they will be less inclined to buy our bonds, knowing inflation will eat-up the value of any interest they earn.”
Money meaning what exactly?…fiat paper currency?…gold?
What of value are they giving us?
Best answer:
Answer by Cthulhu fhtagn!We buy stuff from Chinese companies, paying them dollars.
Chinese companies sell these dollars for yuan, so they can pay their Chinese workers and suppliers. Some dollars are sold to private banks, some are sold to government as per their law.
Whoever ends up with those dollars can either use them to buy goods from US companies, or US Treasury bonds, or bonds issued by US companies. Both foreign governments and private companies can & do buy bonds, creating foreign debt.
2nd guy is quite right . . . → Read More: What are foreign governments actually giving us when we borrow money from them?
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