A New Money Exchange System: The World Calorie Currency (WCC)

Zhou, Xinyi Jimmy (2015): A New Money Exchange System: The World Calorie Currency (WCC). Published in: International Journal of Management and Commerce Innovations , Vol. 2, No. 2 (2015): pp. 403-408.

Abstract

The current ruble crisis causes much trouble for many of those eastern European countries like Russia and its neighbour countries: Strong ruble depreciation and high inflation for consumer goods are its most negative consequences. Because the ruble is only a national currency, but not a world currency, some people might ask if we introduce a new global currency, the World Calories Currency (WCC) or "Cal-Money", that currency would be less vulnerable and less crisis-prone. In this short paper, I firstly present the 4 main criteria of a successful and widely accepted currency: 1. Fair valuability & high inflation security, 2. high trust and acceptance among the users, 3.high distribution over the world and 4. high supportiveness of the real economy. After I compared the strength & weaknesses of the World Calorie Currency and present some concrete measures to make the Cal-Money implementation more smoothly, I then came to conclusion that all 4 main criteria of a successful, world wide applicable currency would be fulfilled by the WCC.

• Item Type: MPRA Paper
• Language: English
• Keywords: New Money Exchange System, World Calorie Currency (WCC), Real economy supportive, Ruble, currency crisis, world currency, CalorieCoin, Central bank supported, Hard currencies, BRICS, Food and energy sector, health supportive
• Subjects: E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E40 - General; E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E41 - Demand for Money; E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E42 - Monetary Systems ; Standards ; Regimes ; Government and the Monetary System ; Payment Systems

References

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