A New Money Exchange System: The World Calorie Currency (WCC)
The current ruble crisis causes much trouble for many of those eastern European countries like Russia and its neighbour countries: Strong ruble depreciation and high inflation for consumer goods are its most negative consequences. Because the ruble is only a national currency, but not a world currency, some people might ask if we introduce a new global currency, the World Calories Currency (WCC) or "Cal-Money", that currency would be less vulnerable and less crisis-prone. In this short paper, I firstly present the 4 main criteria of a successful and widely accepted currency: 1. Fair valuability & high inflation security, 2. high trust and acceptance among the users, 3.high distribution over the world and 4. high supportiveness of the real economy. After I compared the strength & weaknesses of the World Calorie Currency and present some concrete measures to make the Cal-Money implementation more smoothly, I then came to conclusion that all 4 main criteria of a successful, world wide applicable currency would be fulfilled by the WCC.
Year of publication: |
2015-02-22
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Authors: | Zhou, Xinyi Jimmy |
Institutions: | Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München |
Subject: | New Money Exchange System | World Calorie Currency (WCC) | Real economy supportive | Ruble | currency crisis | world currency | CalorieCoin | Central bank supported | Hard currencies | BRICS | Food and energy sector | health supportive |
Saved in:
freely available
Extent: | application/pdf |
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Series: | |
Type of publication: | Book / Working Paper |
Notes: | Published in International Journal of Management and Commerce Innovations 2.2(2015): pp. 403-408 |
Classification: | E40 - Money and Interest Rates. General ; E41 - Demand for Money ; E42 - Monetary Systems; Standards; Regimes; Government and the Monetary System |
Source: |
Persistent link: https://www.econbiz.de/10011184585
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