The annual inflation rate in the US unexpectedly accelerated to 8.6% in May 2022, the highest since December of 1981. As a result, the Fed raised its benchmark rate by 75 bps — the biggest increase since 1994.
Continue readingThe Origins of Currency – Part 3
In my first and second part, I had explained what money is and brief history of Money. Money and currency have all the same characteristics except money is a store of value, whereas currency isn’t. A thousand dollar bill won’t buy the same amount of goods that it used to buy 30 or 40 years back.
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