In this page, we'll explain about diffcult words.
Circle aperture money
There was the thought called "the large circle district" in ancient China. This is a thought that nature is referred to in a pyramid roof (quadrangle) a circle. It
Trading Association Trading association is a group of tthe same profession simillar to guild. They get permission to make association from Shogunate or feudal domains. Shogunate and fuedal domains controled the economy through trading association. By paying tax, they got the right to monopolize market.
The gold standard, the silver standard
The gold (silver) standard system is a system having the role of the exchange ticket which the money that the government publishes can change for a gold coin of quantity listed in face value. I raised a creditworthiness of the money by keeping the role of the exchange ticket.
Fixed exchange rate system
The fixed exchange rate system is a system to fix an exchange rate. For example, I set an exchange rate like "1 dollar = 110 yen" and can exchange money at the rate regardless of economic conditions. In addition peg system is included in the fixed exchange rate system when the band of the exchange rate is limited to an extremely small range.
Floating rate system
Floating exchange rate system has replaced fixed exchanging rate system fixed exchange rate system. In the system exchange rate is decided by the supply and demand of the market. Under this system, the currency of each country is bought and sold freely, and the price of exchange rate fluctuates every day and is called the another name "float system". But there is the element which cannot be completely said that it is the free floating rate system even now because the central bank may perform the exchange rate operation by the market intervention when market price takes a sudden turn.