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"bankor"

Dutch translation: bancor

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Russian term or phrase:bankor
Dutch translation:bancor
Entered by: Nathalya
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05:26 Apr 19, 2001
Russian to Dutch translations [PRO]
Bus/Financial
Russian term or phrase: "bankor"
"Bankor" is de Russische benaming voor de munt die John Maynard Kanes wilde invoeren als wereldmunt. Weet u de Engelse naam van deze munt?

Dank u!
Nathalya
Belgium
Local time: 15:28
bancor
Explanation:



Economist John Maynard Keynes enjoyed the greatest influence at the Bretton Woods conference. His preparations began as early as 1941, when he circulated his blueprint for a world central bank. His second draft in 1942 also called for a new international money, which he called "bancor."

Of this proposed currency, Keynes wrote in a memo during the conference:

We need an instrument of international currency having general acceptability between nations ... that is to say, an instrument of currency used by each nation in its transactions with other nations ....

Keynes argued that the value of the currency ought not to be determined "in an unpredictable and irrelevant manner as, for example, by the technical progress of the gold industry .... "His proposal was for a "Currency Union ... based on international bank-money, called bancor, fixed (but not unalterably) in terms of gold and accepted as the equivalent of gold by the British Commonwealth and the United States...."

www.thenewamerican.com/tna/1994/vo10no17.htm

Succes!

M.
Selected response from:

Davorka Grgic
Local time: 15:28
Grading comment
Thank you a lot!
4 KudoZ points were awarded for this answer

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Summary of answers provided
nabancor
Davorka Grgic


  

Answers


2 hrs
bancor


Explanation:



Economist John Maynard Keynes enjoyed the greatest influence at the Bretton Woods conference. His preparations began as early as 1941, when he circulated his blueprint for a world central bank. His second draft in 1942 also called for a new international money, which he called "bancor."

Of this proposed currency, Keynes wrote in a memo during the conference:

We need an instrument of international currency having general acceptability between nations ... that is to say, an instrument of currency used by each nation in its transactions with other nations ....

Keynes argued that the value of the currency ought not to be determined "in an unpredictable and irrelevant manner as, for example, by the technical progress of the gold industry .... "His proposal was for a "Currency Union ... based on international bank-money, called bancor, fixed (but not unalterably) in terms of gold and accepted as the equivalent of gold by the British Commonwealth and the United States...."

www.thenewamerican.com/tna/1994/vo10no17.htm

Succes!

M.


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Davorka Grgic
Local time: 15:28
Native speaker of: Native in CroatianCroatian, Native in SpanishSpanish
PRO pts in pair: 70
Grading comment
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