Bancor


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Bancor

A proposed global accounting currency on which the currencies of the world would be based. The bancor would have been pegged to gold. John Maynard Keynes and E.F. Schumacher formulated the bancor in advance of the Bretton Woods Conference, but it was never adopted. See also: Special Drawing Rights.
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Users will be able to purchase and sell TOS tokens directly from the Bancor wallet at a formulaically calculated price.
The Bancor Protocol provides much-needed liquidity for our incentive token, said Evan Caron, Swytch Co-Founder and Managing Director.
"We are really excited to integrate the Bancor Protocol which will make it effortless for our users to convert their tokens, providing them with continuous liquidity.
Zhou argued that it was unfortunate that part of the reason for the Bretton Woods system breaking down was the failure to adopt Keynes's bancor since national currencies were unsuitable for use as global reserve currencies as a result of the Triffin Dilemma he difficulty faced by reserve currency issuers in trying to simultaneously achieve their domestic monetary policy goals and meet other countries' demand for a reserve currency.
For Salais, the failure to introduce a Eurocor on the model of Keynes's proposed bancor was an early instance of a long sequence of opportunities foregone in succeeding decades.
Otra cosa que hay que subrayar es que White tambien se opuso a la creacion del Bancor, peticion que le fue concedida en la conferencia, debido principalmente al hecho de que la devastada Gran Bretana no tuvo mas remedio que pedir ayuda, y es asi que el dolar de los Estados Unidos paso a ser la divisa de reserva.
Keynes, who had begun writing about a postwar financial system in 1942, had an expansive vision for a global currency, which he named "bancor." To prevent remedies to national financial crises from accumulating, he wanted debtor nations to be able to borrow money in the new currency virtually at will.
Every international transaction was to be recorded in the account of the nation concerned in terms of 'bancor', an international currency used only for international transactions.
The balances would be held in 'bank money' (bancor).
He favours Keynes's policy prescription in the 1940s of an International Clearing House with its own currency, the Bancor.
In a nod to the economist John Maynard Keynes, it says: "Called, for example, bancor in honour of Keynes, such a currency could be used as a medium of exchange - an Outside money' in contrast to the SDR which remains an 'inside money'."
A more ambitious reform option would be to develop a global currency --"Bancor," for example, as Keynes proposed.