Waiver of the dollar - reality or profanity?
Money has only three functions:
- Medium of exchange
- Measure of value
- A means of accumulating wealth.
All other functions of money, which are filled with modern textbooks, are not independent functions, remaining only derived from the three classes above the basic functions of money. All these "extra" money features, were introduced to textbooks very recently and with only one purpose - erase from consciousness students completely and that means in the minds of future government and society, all the differences between the two fundamental concepts of "money" and "currencies". And introduced the term "world money" that would not be noticeable, using NLP, put in the minds of people the equal sign between the concepts of money and currencies.
Today it will be very difficult for you to find the definition of the concept "Currency functions". And even if you can find it, then you are surprised to find, that it is just copying the functions of money and nothing more. That is, the difference between the concepts of "money" and "currency", neither students of economic universities, nor the population, nor officials of the Ministry of Finance, should don't know and understand.
Well, we'll go in a simpler and shorter way. We will leave outside the scope of this article the topic of differences in the very notions of such different financial instruments as "money" and "currency". We will deliberately allow, that a priori is a false statement about, that money and currencies are one and the same, is the truth. After that, we will immediately put the question to the Ministry of Finance: Which of the three well-known functions of money, the most main, the most important, and the primary means?
- Can we use not money as a medium of circulation but something else? Yes, we can. It will be less convenient and more costly, but it is possible.
- Can we use as a means of accumulating wealth, not money but something else? Yes, we can. It will be less convenient and more costly, but it is possible.
- Can we use as a measure of value not money, but something else? No we can’t. Because the use by thousands of different people and companies of completely different cost measures, lead markets to total chaos and collapse in any national and then in the global economy.
That's why, most important, de facto primary function of money is the Measure of Cost.
This means giving up the dollar can be a reality then and only then, when we talk about abandoning the dollar as a measure of value. The same measure of value as dollar USA, helping with that, we define and express not only the value of oil and all commodities but also the value of any national currency!
All other forms of abandoning the dollar, about which there is so much talk in Europe, China and Russia is only profanation and verbiage about anything.