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Money, Banking and The Financial System: beginners guide of the financial system for conscious money decisions - Softcover
Harris would have been a rich man today if his father had not invested in U.S. government bonds in the late 1960s. The Treasury promptly paid the interest contractually due on those bonds, but high rates of inflation and interest in the 1970s and early 1980s reduced their prices and wiped out most of their purchasing power. Instead of inheriting a fortune, Harris received just enough to buy a midsized automobile. That his father had worked so long and so hard for so little saddened Harris. If only his father had understood a few simple facts: when the supply of money increases faster than the demand for it, prices rise and inflation ensues. When inflation increases, so too do nominal interest rates. And when interest rates increase, the prices of bonds (and many other types of assets that pay fixed sums) fall. Jorge’s father didn’t lack intelligence. Many people, even some well-educated ones, do not understand the basics of banking, money, and finance. And they and their loved ones pay for it, sometimes dearly.
Arthur knows that all too well. Her grandparents didn’t understand the significance of portfolio diversification (the tried-and-true rule that you shouldn’t put all of your eggs in one basket), so they invested their entire life savings in a single company called Enron. They lost everything (except their Social Security checks) after that bloated behemoth went bankrupt in December 2001. Instead of lavishing him with gifts, Arthur’s grandparents drained resources away from their grandson by frequently seeking helps from Arthur’s parents. When the grandparents died—without life insurance, yet another mistake—Arthur’s parents had to pay big bucks for their “last expenses.”
This book contains proven steps and strategies on how to improve your understanding towards money, banking and finance system and help you to master money saving and investing habits. Your money making capabilities depends on your understanding of the finance system and banking.
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- PublisherCreateSpace Independent Publishing Platform
- Publication date2016
- ISBN 10 1541229053
- ISBN 13 9781541229051
- BindingPaperback
- Number of pages54
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