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Gold Franc
The gold franc (currency code: XFO) was the unit of account for the Bank for International Settlements from 1930 until April 1, 2003. It was replaced with the special drawing right. It was originally based on the Franc Germinal, and remained at the value the franc was pegged (0.290322 g fine gold) after the countries of the Latin Monetary Union came off the gold standard. Use in New Hebrides The gold franc was used in the Anglo-French Condominium of the New Hebrides (now Vanuatu) as the currency in which the joint administration's postal service denominated its stamps, a natural choice as the Universal Postal Union Treaty (beginning in 1874 when the first treaty was agreed and reaffirmed at subsequent Congresses until at least that of 1939—see the various "Actes du Congress...") denominated the agreed international postal rates in gold franc and gold centime leaving each member country and its dependencies to translate the amounts into their own currencies. This added to t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank For International Settlements
The Bank for International Settlements (BIS) is an international financial institution which is owned by member central banks. Its primary goal is to foster international monetary and financial cooperation while serving as a bank for central banks. With its establishment in 1930 it is the oldest international financial institution. Its initial purpose was to oversee the settlement of World War I war reparations. The BIS carries out its work through its meetings, programmes and through the Basel Process, hosting international groups pursuing global financial stability and facilitating their interaction. It also provides banking services, but only to central banks and other international organizations. The BIS is based in Basel, Switzerland, with representative offices in Hong Kong and Mexico City. History Background International monetary cooperation started to develop tentatively in the course of the 19th century. An early case was a £400,000 loan in gold coins, in 1825 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Switzerland
Switzerland, officially the Swiss Confederation, is a landlocked country located in west-central Europe. It is bordered by Italy to the south, France to the west, Germany to the north, and Austria and Liechtenstein to the east. Switzerland is geographically divided among the Swiss Plateau, the Swiss Alps, Alps and the Jura Mountains, Jura; the Alps occupy the greater part of the territory, whereas most of the country's Demographics of Switzerland, 9 million people are concentrated on the plateau, which hosts List of cities in Switzerland, its largest cities and economic centres, including Zurich, Geneva, and Lausanne. Switzerland is a federal republic composed of Cantons of Switzerland, 26 cantons, with federal authorities based in Bern. It has four main linguistic and cultural regions: German, French, Italian and Romansh language, Romansh. Although most Swiss are German-speaking, national identity is fairly cohesive, being rooted in a common historical background, shared ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking In Switzerland
Banking in Switzerland dates to the early 18th century through Switzerland's merchant trade and over the centuries has grown into a complex and regulated international industry. Banking is seen as very Culture of Switzerland, emblematic of Switzerland and the country has been one of the largest, if not largest, Offshore financial centre, offshore financial centers and tax havens in the world since the mid-20th century, with a long history of banking secrecy, security and client confidentiality reaching back to the early 1700s. Starting as a way to protect wealthy European banking interests, Swiss banking secrecy was codified in 1934 with the passage of a landmark federal law, the Federal Act on Banks and Savings Banks. These laws were used to protect assets of persons being persecuted by Nazi authorities but have also been used by people and institutions seeking to Tax evasion, illegally evade taxes, hide assets, or to commit other financial crime. Controversial protection of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Swiss National Bank
The Swiss National Bank (SNB; ; ; ; ) is the central bank of Switzerland, responsible for the nation's monetary policy and the sole issuer of Swiss franc banknotes. The primary goal of its mandate is to ensure price stability, while taking economic developments into consideration. The SNB is an ''Aktiengesellschaft'' under special regulations and has two head offices, one in Bern and the other in Zürich. History The bank formed as a result of the need for a reduction in the number of commercial banks issuing banknotes, which numbered 53 sometime after 1826. In the 1874 revision of the Federal Constitution it was given the task to oversee laws concerning the issuing of banknotes. In 1891, the Federal Constitution was revised again to entrust the Confederation with sole rights to issue banknotes. 1905 foundation The Swiss National Bank was founded under the law of 6 October 1905 ('the National Bank Act'), which entered into force on 16 January 1906. Business was started on 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
:w:en:Bilan (magazine)
''Bilan'' is a biweekly business magazine published in Geneva, Switzerland. The magazine has been in circulation since 1989. History and profile ''Bilan'' was first published in June 1989. The publisher of the magazine was Alain Fabarez. It was owned by the Edipresse Group until November 2011. Then it became part of the Tamedia Group. The magazine is published biweekly by Tamedia Publications on Wednesdays and has its headquarters in Geneva. It came out monthly until 2005 when its frequency was switched to biweekly. Its headquarters was formerly in Lausanne. ''Bilan'' is the French counterpart of the Swiss German business magazine, ''BILANZ'', and features analyses of finance markets and targets managers of small or large enterprises and decision makers. It publishes several listings, including the 300 richest Switzerland, the 100 richest in Europe, the 300 most influential Switzerland, the 50 start-up invest in and the top 30 employers. The biweekly also publishes interviews. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Crisis
A financial crisis is any of a broad variety of situations in which some financial assets suddenly lose a large part of their nominal value. In the 19th and early 20th centuries, many financial crises were associated with Bank run#Systemic banking crises, banking panics, and many recessions coincided with these panics. Other situations that are often called financial crises include stock market crashes and the bursting of other financial Economic bubble, bubbles, currency crisis, currency crises, and sovereign defaults. Financial crises directly result in a loss of paper wealth but do not necessarily result in significant changes in the real economy (for example, the crisis resulting from the famous tulip mania bubble in the 17th century). Many economists have offered theories about how financial crises develop and how they could be prevented. There is little consensus and financial crises continue to occur from time to time. It is apparent however that a consistent feature of bo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hard Currency
In macroeconomics, hard currency, safe-haven currency, or strong currency is any globally traded currency that serves as a reliable and stable store of value. Factors contributing to a currency's ''hard'' status might include the stability and reliability of the respective state's legal and bureaucratic institutions, level of corruption, long-term stability of its purchasing power, the associated country's political and fiscal condition and outlook, and the policy posture of the issuing central bank. Safe haven currency is defined as a currency which behaves like a hedge for a reference portfolio of risky assets conditional on movements in global risk aversion. Conversely, a weak or soft currency is one which is expected to fluctuate erratically or depreciate against other currencies. Softness is typically the result of weak legal institutions and/or political or fiscal instability. Junk currency is even less trusted than soft currency, and has a very low currency value. Soft ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Floating Exchange Rate
In macroeconomics and economic policy, a floating exchange rate (also known as a fluctuating or flexible exchange rate) is a type of exchange rate regime in which a currency's value is allowed to fluctuate in response to foreign exchange market events. A currency that uses a floating exchange rate is known as a ''floating currency''. In contrast, a '' fixed currency'' is one where its value is specified in terms of material goods, another currency, or a set of currencies. The idea of a fixed currency is to reduce currency fluctuations. In the modern world, most of the world's currencies are floating, and include the most widely traded currencies: the United States dollar, the euro, the Japanese yen, the pound sterling, the Australian dollar, and the Swiss franc. However, even with floating currencies, central banks sometimes participate in markets to attempt to influence the value of floating exchange rates. The Canadian dollar has not seen interference by the Canadian nationa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gold
Gold is a chemical element; it has chemical symbol Au (from Latin ) and atomic number 79. In its pure form, it is a brightness, bright, slightly orange-yellow, dense, soft, malleable, and ductile metal. Chemically, gold is a transition metal, a group 11 element, and one of the noble metals. It is one of the least reactivity (chemistry), reactive chemical elements, being the second-lowest in the reactivity series. It is solid under standard temperature and pressure, standard conditions. Gold often occurs in free elemental (native state (metallurgy), native state), as gold nugget, nuggets or grains, in rock (geology), rocks, vein (geology), veins, and alluvial deposits. It occurs in a solid solution series with the native element silver (as in electrum), naturally alloyed with other metals like copper and palladium, and mineral inclusions such as within pyrite. Less commonly, it occurs in minerals as gold compounds, often with tellurium (gold tellurides). Gold is resistant to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gram
The gram (originally gramme; SI unit symbol g) is a Physical unit, unit of mass in the International System of Units (SI) equal to one thousandth of a kilogram. Originally defined in 1795 as "the absolute Mass versus weight, weight of a volume of pure water equal to Cube (algebra), the cube of the hundredth part of a metre [1 Cubic centimetre, cm3], and at Melting point of water, the temperature of Melting point, melting ice", the defining temperature (0 °C) was later changed to the temperature of maximum density of water (approximately 4 °C). Subsequent redefinitions agree with this original definition to within 30 Parts-per notation, parts per million (0.003%), with the maximum density of water remaining very close to 1 g/cm3, as shown by modern measurements. By the late 19th century, there was an effort to make the Base unit (measurement), base unit the kilogram and the gram a derived unit. In 1960, the new International System of Units defined a '' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Council Of Switzerland
The National Council (; ; ; ) is a house of the Federal Assembly of Switzerland, representing the people. The other house, Council of States, represents the states, preventing more populous parts of the country overpowering the rest. As the powers of the houses are the same, it is sometimes called perfect bicameralism. Both houses meet in the Federal Palace of Switzerland in Bern. The national council comprises 200 persons. Adult citizens elect the council's members, who are called National Councillors, for four year terms. These members are apportioned to the Swiss cantons in proportion to their population. Organisation With 200 members, the National Council is the larger house of the Swiss legislature. It represents the people, the vote of each citizen having more or less the same weight, whereas the Council of States represents the cantons - each of them having the same weight, regardless of its population. Pierre Cormon, Swiss Politics for Complete Beginners', Editions ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gold As An Investment
Of all the precious metals, gold is the most popular as an investment. Investors generally buy gold as a way of diversifying risk, especially through the use of futures contracts and derivatives. The gold market is subject to speculation and volatility as are other markets. Compared to other precious metals used for investment, gold has been the most effective safe haven across a number of countries. Gold price Gold has been used throughout history as money and has been a relative standard for currency equivalents specific to economic regions or countries, until recent times. Many European countries implemented gold standards in the latter part of the 19th century until these were temporarily suspended in the financial crises involving World War I. After World War II, the Bretton Woods system pegged the United States dollar to gold at a rate of US$35 per troy ounce. The system existed until the 1971 Nixon shock, when the US unilaterally suspended the direct convertib ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
