Talk:Banknote
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What central banks do
This is the brilliantest page on wikipedia This statement needs correction:
"Thus, by conducting this type of open market operation — selling bonds when there is excess currency and buying bonds when there is too little — the bank can maintain the value of the dollar at one ounce of silver without ever redeeming any paper dollars for silver. In fact, this is essentially what all modern central banks do, and the fact that their currencies might be physically inconvertible is made irrelevant by the maintenance of financial convertibility."
In fact, all modern currencies have lost the majority of their value relative to precious metals over the last 35 years precisely because the ending of the last link to such a metal (gold, in this case), allowed central banks to create paper money that never has to be redeemed in a precious metal. So it is clearly not true that "maintain[ing] the value of [their currency]" in terms of a precious metal is "essentially what all modern central banks do".
Stheller 16:04, 10 September 2006 (UTC)
I do not appreciate that someone has removed a link to my free banknote gallery at http://www.banknotes.com/images.htm . My website has been linking a lot to Wikipedia.org. Example: http://www.banknotes.com/fr.htm => scroll down to "History of France" link. All of my gallery country pages are linking to Wikipedia's history articles and some other articles. I'm linking to all the history articles giving exposure to Wikipedia and you are not being fair. I've noticed many banknotes from Banknotes.com were (maybe still are) being used without any credit or link given. I expect a response.