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Devaluation (1)
DEVALUATION (1)

Definition: (finance) The act of reducing the value of the money of one country when it is exchanged for the money of another country.
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* All eight elements should be in.


1. Purposeful, even if unappreciated by the uninformed or citizens of the 'loser-country' (connect to #2, to emphasize).

2. Considered a necessity to lessen value. That is, monetary and/or economic reasons abound to cause a reduction in the value of particular currency.
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See perfect CENTRAL BANK.


3. Gain to or betterment of the economy, of the country with devalued currency's will be achieved by the action. That is, balance of trade, productivity, gross domestic product, etc. will improve as a direct result of act.

4. Act is officially approved. That is, reduction in value is not only observed in the deregulated economy (= black market!)
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See perfect POUND (3).


5. Rate to which money is reduced to is reasonable - does not make country's notes and coins 'worthless'. That is, new rate will be assumed sensible.

6. Action is taken timely (connect to #7).
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See perfect FAILED STATE.


7. Serves purpose(s), as exactly hoped for (connect to #8).

8. Money that is reduced in value does not get devalued again.
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See perfect ZIMBABWEAN DOLLAR.




Quote: "There is no subtler, nor surer means of overturning the existing basis of society than to debauch (devalue) the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose...". - John Maynard Keynes.

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