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Currency 2bexchangeLast update: Saturday 19th of May 2012
It is of the utmost importance if you intend on trading the currency markets you must have a plan to get the profits you have made back into your own countries currency. Let's say you live in the United States and make an investment in a currency to be considered a good investment you should be able to receive a profit that more than marginally exceeds an investment in US bonds. Sweden (1873), Denmark (1873) and Norway (1875) formed the Scandinavian Monetary Union (SMU). The pattern was familiar: they accepted each others' gold coins as legal tender until 1750. These notes were even accepted as tax payments by the governments of the colonies. Massachusetts was a dominant economy and sustained this arrangement for almost a century. It was envy that ended this very successful arrangement: the other colonies began to print their own notes outside the realm of the union. Massachusetts bought back (redeemed) all its paper money in 1751, paying for it in silver. It instituted a mono-metallic (silver) standard and ceased to accept the paper money of the other three colonies. The Union
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