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THE HISTORY OF MONEY - Coggle Diagram
THE HISTORY OF MONEY
keeping tabs or tallies of these exchanges (keep tabs on something/someone
idiom - to watch something or someone carefully:
I like to keep tabs on my bank account so that I don't spend too much)
to impose taxes - the term "impose" refers to the act of placing a fee, levy, tax, or charge on an asset or transaction to the detriment of the investor.
was increasingly hard to keep track of (idiom.: to be aware of how something is changing, what someone is doing, etc.)
intrinsic value (is a way of describing the perceived or true value of an asset. This is not always identical to the current market price because assets can be over- or undervalued. Intrinsic value is a common part of fundamental analysis, which investors use to assess stocks, as well being used in options pricing)
hit on the idea (to think of an idea when you didn't expect or intend to, especially one that solves a problem)
the idea of minting coins from precious metals (Money minting refers to the process of producing coins. A mint refers to a manufacturing facility that produces coins that are used as a nation's currency)
make money by circulating debased currency worth less than face value ( Debasement refers to lowering the value of a currency. A currency is debased when the coins are made with a mix of precious metals and base metals as opposed to purely precious metals)
attempts to peg currencies to a fixed gold standard (A currency peg is a policy in which a national government or central bank sets a fixed exchange rate for its currency with a foreign currency or a basket of currencies and stabilizes the exchange rate between countries)
a promissory note (a signed document containing a written promise to pay a stated sum to a specified person or the bearer at a specified date or on demand)
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caused by the sheer burden of taxation (The total economic burden of a tax includes both payments that taxpayers make to the government and any lost economic value from inefficient activities undertaken in reaction to taxes)
the hard-won freedom (If something is hard-won, it was only achieved after a lot of effort)
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fractional reserve banking (is a system in which only a fraction of bank deposits are required to be available for withdrawal)
Global financial meltdown (The global financial crisis (GFC) refers to the period of extreme stress in global financial markets and banking systems between mid 2007 and early 2009)
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to suffer price inflation and exchange rate of depreciation (Currency depreciation is a fall in the value of a currency in terms of its exchange rate versus other currencies)
The cutting-edge of technology refers to technological devices, techniques or achievements that employ the most current and high-level IT developments; in other words, technology at the frontiers of knowledge.
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