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Foreign Currency and Interest: Difference between revisions

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(Created page with "==Foreign Currency== # Rashba respona 4:287 forbids lending money of one currency for another currency since the coins change fixed with respect one to another. ===Expired or...")
 
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==Foreign Currency==
==Foreign Currency==
# Rashba respona 4:287 forbids lending money of one currency for another currency since the coins change fixed with respect one to another.
# Rashba respona 4:287 forbids lending money of one currency for another currency since the coins change fixed with respect one to another.
---Just Notes---
Ribbit Halacha Lmaaseh Brit Pinchas
case1 matbeya to matbeya. halvah. borrow shek for shek muter,
case2 matbeya to pierot. pesika. in israel borrow shek return dollar, if you are koveh price acc to time of halvah then you need the entire amount that you're mitchayev to give. if you are koveh price acc to time of piraon that's muter.
case3 peirot to pierot. seah bseah. in israel borrow dollar for dollar he needs yesh lo
case4 peirot to matbeya. sale/tarsha. borrow dollars for shek koveh acc to time of halvah muter. acc to time of piraon asur unless he has some dollars and could return it then he can even return with shek with yesh lo.
case5 pierot to another pierot. sale/asur. seah chtim seah dochen. koveh acc to time of halvah muter if has all of the second coins from beginning. acc to time of piraon asur unless could return what borrowed
Borrowing and returning done in Israel.
borrow shek for shek muter,
borrow dollar for dollar he needs yesh lo.
borrow shek return dollar, if you are koveh price acc to time of halvah then you need the entire amount that you're mitchayev to give. if you are koveh price acc to time of piraon that's muter.
borrow dollars for shek koveh acc to time of halvah muter. acc to time of piraon asur unless he has some dollars and could return it then he can even return with shek with yesh lo.
borrow dolalrs for another foreign currency
koveh acc to time of halvah muter if has all of the second coins from beginning. acc to time of piraon asur unless could return what borrowed
halvah in israel return in america or vice versa. shek for shek or dol for dol muter. borrow shek and return dollars acc to time of halvah he needs to have all coins. acc to time of piraon if borrow shek in israel and returned dolalrs in america muter
igm yd 3:37, shvet halevi 3:119 say dollars in israel are matbeya but ribit yehuda 18:5 argues
Torat Ribbit 19:14 muter if borrow shek in israel for shek in america. brit yehuda 13:12 argues that you need matbeya of piroan place. torat ribit thinks enough to be matbeya of either place
sa harav seif 30 if you have possiblity to pay bmatzbeya
borrow foreign to return with local matebya either 1. pay acc to time of halva or 2 specify a day or 3 sa harav 30 option to pay with local currency acc to time of halva or ype of foriegn one he borrowed
shek in israel for dollars in america is problem unless
if you pay acc to price of halva only muter if a you have all of the type that you're going to pay b. speak with lashon mechira not halva, c dont say it is price bc of hakdamat maot. if pay time of piraon muter. torat ribit 19:16 brit yehuda 20 fnt 29. time of piroan is asao damim chazon ish 72:6
===Expired or Altered Currency===
===Expired or Altered Currency===
<p class="indent">The system of coins used in the days of the Gemara and Shulchan Aruch were intrinsically valuable commodities, such as silver or gold. In that system the size and weight of the money and the value of that metal determined the value of the coins.<ref>Gemara Bava Metsia 44a-b</ref> This is known as [https://en.wikipedia.org/wiki/Commodity_money commodity money] and is associated with the theory of economics [https://en.wikipedia.org/wiki/Metallism metallism]. Another system used is [https://en.wikipedia.org/wiki/Representative_money representative money] which could be used to redeem a commodity; this is also known as the [https://en.wikipedia.org/wiki/Gold_standard gold standard]. In 1971, America replaced this system with [https://en.wikipedia.org/wiki/Fiat_money fiat money], theoretically understood by [https://en.wikipedia.org/wiki/Chartalism chartalism], which has no intrinsic value and no representative value but has a value based on the government.</p>
<p class="indent">The system of coins used in the days of the Gemara and Shulchan Aruch were intrinsically valuable commodities, such as silver or gold. In that system the size and weight of the money and the value of that metal determined the value of the coins.<ref>Gemara Bava Metsia 44a-b</ref> This is known as [https://en.wikipedia.org/wiki/Commodity_money commodity money] and is associated with the theory of economics [https://en.wikipedia.org/wiki/Metallism metallism]. Another system used is [https://en.wikipedia.org/wiki/Representative_money representative money] which could be used to redeem a commodity; this is also known as the [https://en.wikipedia.org/wiki/Gold_standard gold standard]. In 1971, America replaced this system with [https://en.wikipedia.org/wiki/Fiat_money fiat money], theoretically understood by [https://en.wikipedia.org/wiki/Chartalism chartalism], which has no intrinsic value and no representative value but has a value based on the government.</p>