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Disclaimer: While all attempts to ensure the accuracy of this data by using sources believed to be reliable. This data shall not be construed as a recommendation to buy or sell any security. TradingClinic™ and ALT Capital Management LLC® together with all associated companies shall not assume any legal liability or responsibility for any incorrect, misleading or altered information contained herein. Please read the wider disclaimer posted on http://www.tradingclinic.com/disclaimer.php and which is the basis for your downloading this document, displaying this document via any viewing media and browsing this Website I am working on this article constantly and looking to expand considerably its scope and would be obliged for any input. Please note that it is at a very early stage Email: [email protected] BC700 BC600 BC450 BC410 BC500-BC300 BC200 1200 1604 1661-1671 1694 1716 1717 1720 1785 1792 1806 1833 1844 1848 1848 1848 1848 1849 1851-1862 1858 1858 1858-1860 1859-1863 1861-1863 1871 1871 1873 1873 Ionia Sparta The Carthaginian National State Lottery The Byzantium collapse Greek collapse Rome expansion Genghis Khan Chinese Credit derivatives Sweden. Silver equivalence at a 15% premium to coin was enacted UK. Wooden sticks eventually known as Stocks acted as confirmation of bearer identification between borrower and lender July 27th 1969 Bank of England granted Royal Charter May 5th, 1716 John Law is granted a Bank by Duc d’Orleans Sir Isaac Newton Assay of Gold/Silver ration creating The Standard Unit of account August 1720 John Law fails U.S. adopts a Silver Standard based on The Spanish Milled Dollar April 2nd, 1792 U.S. Mint created and establishes The Dollar as the U.S. unit of money. 15 units of pure Silver to 1 unit of pure Gold Standard Gold defined as 11 parts pure Gold to one part alloy composed of Silver & Copper. Standard Silver defined as 1485 parts pure Silver to 179 parts pure Copper alloy Pres. Jefferson suspends minting of Silver coin Bank of England notes made legal tender UK adopts Gold Standard January 24th, 1848 Gold Nugget found at Sutter’s Mill nr. Coloma California February 2nd, 1848 Chinese immigrants land at San Francisco to seek fortune in gold country California August 19th, 1848 New York Herald confirms gold rush December 5th, 1848 Pres. X announces to Congress 49ers California Gold Rush starts in earnest with water costing up to $100 a glass Australia Gold Rush centered on Melbourne California Gold Rush ends New Mexico Gold Rush begins British Columbia Gold Rush Colorado Gold Rush Central Otago Gold Rush in New Zealand European nations adopt a bi-metallic Gold/Silver Standard Germany adopts Gold Standard with Gold mined mainly from South Africa Latin Monetary Union of Belgium, France, Italy & Switzerland U.S. Panic of 1873 1874-1884 November 25th 1874 The Greenback Party founded in Indianapolis, Indiana. 1875 1875 1876 1876 1879 1879-1900 1881 1893 1897 1898 1896-1898 Scandinavian monetary union of Denmark, Norway & Sweden Netherlands adopts The Gold Standard France adopts internally The Gold Standard Spain adopts The Gold Standard Austria adopts The Gold Standard US adopts The Gold Standard de facto Introduction of Postal Money Orders in UK made legal tender in 1914 Russia adopts the Gold Standard Japan adopts the Gold Standard India adopts The Gold Standard August 16th, 1896 Klondike Gold Rush at Bonanza Creek Canada begins with the main frenzy from July 17th, 1897 US formally adopts via Legislation The Gold Standard GBP/USD 4.87 using Gold at $ 20.67 & £ 4.24 with approx 3 cents of allowable deviation Inter War Period with floating exchange rates UK abandons The Gold Standard UK restores the Pre-War parity “To look the $ in the eye” Others followed but at devalued rates July 1st – July 22nd, 1944 Bretton Woods agreement negotiated December 27th, 1945 World Bank created Bank of England nationalised Creation of IMF IMF suspended and The Marshall Plan created Bretton Woods par value period with $ fixed at $35 an ounce of Gold with approx 1% of allowable deviation EU nations accept in full the obligations of participating in the Bretton Woods par value system & restoration of IMF U.S. starts to feel 1st of many Gold Crises with other nations holding too many excess $ and seeking to exchange them into Gold IMF Reserve Asset Special Drawing Rights introduced Pres. Reagan sets up U.S. Gold Commission who agreed that there was a strong need for monetary discipline but did not recommend a return to The Gold Standard The Floating Rate period August 15th ,1971 U.S. suspends Gold convertibility December, 1971 The Smithsonian Agreement & creation of G10 – Belgium Canada, France, Germany, Italy, Japan, Netherlands, Sweden, UK, U.S. – An approximate 8% devaluation of $ ensued with the $ par value moving from $35 to $38 but convertibility was not restored February 1973 a further 10% devaluation occurred moving from $38 to $42.22 March, 1973 G10 allow their currencies to float IMF Articles of Association amended allowing nations to choose an exchange rate regime – Individual floating or Joint floating e.g. European Monetary Union (EMU) with the obligation imposed to “Promote exchange stability” and “avoid manipulating exchange rates or the International Monetary System in order to prevent effective balance of payments adjustments or to gain unfair competitive advantage” The Working Group on Foreign Exchange Market Intervention created by G7 – Intervention can be useful and effective in the short run but warned against expecting too much Creation of Euro with Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal & Spain. Additionally Monaco, San Marino and Vatican City mint their own Euro coins. The Euro is additionally used in Andorra, Kosovo & Montenegro E.U. Stability Pact effectively is ignored by all E.U. nations May 31st, 2005 France rejects E.U. constitution 1900-1914 1880-1914 1919-1939 1931 1939 1944 1945 1046 1946 1947 1946-1971 1958 1960 1969 1981 1971-Present 1971 1971 1973 1973 1978 1983 1999 2004 2005 June 1st, 2005 Netherlands rejects E.U. constitution July 20th 2005 China Revalues the Yuan from 8.27 to 8.11, 2% with a crawling peg of 0.3% either side of a central rate I am indebted to The New York Federal Reserve and in particular to the article The Foreign Exchange Market in the United States by Sam Y. Cross p. 1998 Additional articles that I wish to find The New York Foreign Exchange Market by Alan Holmes p. 1959 The New York Foreign Exchange Market by Roger Kubarych p. 1978 Disclaimer: While all attempts to ensure the accuracy of this data by using sources believed to be reliable. This data shall not be construed as a recommendation to buy or sell any security. TradingClinic™ and ALT Capital Management LLC® together with all associated companies shall not assume any legal liability or responsibility for any incorrect, misleading or altered information contained herein. Please read the wider disclaimer posted on http://www.tradingclinic.com/disclaimer.php and which is the basis for your downloading this document, displaying this document via any viewing media and browsing this Website
