Tag: gold

World Gold Council – WGC definition explanation

What is World Gold Council – WGC?
A nonprofit association of the world’s leading gold producers, established to promote the use of, and thus demand for, gold through marketing, research and lobbying. Headquartered in Geneva, Switzerland, the WGC covers the markets which comprise about three-quarters of the world’s annual gold consumption. Read more for examples and further explanation including related video clips and also comments
Continue reading “World Gold Council – WGC definition explanation”

MXN (Mexican Peso) definition explanation

What is MXN (Mexican Peso)?
The currency abbreviation for the Mexican peso (MXN), the currency for Mexico. The Mexican peso is made up of 100 centavos and is often presented with the symbol $ or Mex$. The name peso comes from the Mexican word “”pesos””, which means “”weights””, and refers to gold or silver weights. Read more for examples and further explanation including related video clips and also comments
Continue reading “MXN (Mexican Peso) definition explanation”

Quantity Theory Of Money definition explanation

What is Quantity Theory Of Money?
An economic theory which proposes a positive relationship between changes in the money supply and the long-term price of goods. It states that increasing the amount of money in the economy will eventually lead to an equal percentage rise in the prices of products and services. The calculation behind the quantity theory of money is based upon Fisher Equation:

Calculated as:

Where:
M represents the money supply.
V represents the velocity of money.
P represents the average price level.
T represents the volume of transactions in the economy. Read more for examples and further explanation including related video clips and also comments
Continue reading “Quantity Theory Of Money definition explanation”

Brazil, Russia, India And China – BRIC definition explanation

What is Brazil, Russia, India And China – BRIC?
An acronym for the economies of Brazil, Russia, India and China combined. The general consensus is that the term was first prominently used in a Goldman Sachs report from 2003, which speculated that by 2050 these four economies would be wealthier than most of the current major economic powers. Read more for examples and further explanation including related video clips and also comments
Continue reading “Brazil, Russia, India And China – BRIC definition explanation”

Lawful Money definition explanation

What is Lawful Money?
Any form of currency issued by the United States Treasury and not the Federal Reserve System, including gold and silver coins, Treasury notes, and Treasury bonds. Lawful money stands in contrast to fiat money, to which the government assigns value although it has no intrinsic value of its own and is not backed by reserves. Fiat money includes legal tender such as paper money, checks, drafts and bank notes.

Also known as “”specie””, which means “”in actual form.”” Read more for examples and further explanation including related video clips and also comments
Continue reading “Lawful Money definition explanation”

Numeraire definition explanation

What is Numeraire?
An economic term that represents a unit of account. In French, the term means “”money””, “”coinage”” or “”face value””. A numeraire is usually applied to a single good, which becomes the base good. All similar goods are then valued and priced against the base good. This comparison makes it possible to identify which goods are worth more than others. Read more for examples and further explanation including related video clips and also comments
Continue reading “Numeraire definition explanation”