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Tuesday 811

  Mostly summarized from Gregory Mankiw’s Principles of Economics, 5th Ed. PART 10 Money and Prices in the Long Run Chapter 29 of 36 The Monetary System Section 5 of 22 … Commodity money is money with intrinsic value. Intrinsic value means the item has value besides as money. Gold is an example of commodity money. Gold has intrinsic value because it is used in industry and making jewelry. Today we no longer use gold as money. In the past gold was a common form of money because it is easy to carry, measure, and verify purity. When an economy uses gold as money or uses paper money that is convertible into gold on demand the economy is said to be operating on a gold standard. … Cigarettes is another example of commodity money. In prisoner-of-war camps during World War II prisoners traded goods and services using cigarettes as money. Even nonsmokers accepted cigarettes as money, knowing they could use cigarettes to buy goods. … Fiat money is money without intrinsic value. Fiat money is...
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Monday 810

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  Mostly summarized from Gregory Mankiw’s Principles of Economics, 5th Ed. PART 10 Money and Prices in the Long Run Chapter 29 of 36 The Monetary System Section 4 of 22 … Money has three functions in the economy -1- a medium of exchange -2- a unit of account -3 - a store of value ... -3 - A Store of Value A store of value is something people can use ¬to transfer purchasing power from the present to the future. When a seller accepts money today in exchange for a good the seller can hold the money and become a buyer of another good later. Nonmonetary stores of value include gold, stocks and bonds. … The term wealth is used to refer to the total of all stores of value including both money and nonmonetary assets. Economists use the term liquidity to describe the ease with which an asset can be converted into the economy's medium of exchange. Because money is the economy's medium of exchange, it is the most liquid asset. … Most stocks and bonds can be sold easily, so are relatively ...
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Scot and Fumiko pictures and information

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  Fumiko Scot's information: Weight at 166 pounds, got to 160 pounds five years ago and have recently been bouncing between 163 and 168. Common sense ways to lose and keep off weight are eat right and light and get lots of exercise. Main exercise is walking, do 1~2 miles most days. Over career worked as a salesman in the steelmaking, fasteners, and auto manufacturing industries, lots of travel in U.S., Canada, Mexico, and Japan. Have visited every U.S. city with a major league, MLB, NFL, NBA, NHL, sports team except Sacramento, have gotten as close as Travis Air Force Base. Often traveled on Sundays, much time on the road so could not eat right and get enough exercise so got heavy, up to 200 lbs. Was on commission and made enough to retire early, able eat good food and get enough exercise. Now spend most time reading and writing. Our Wick branch goes back to the brother of owner of the Wick House at Morristown National Historical Park in Morristown New Jersey, and on back to Staine...
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HAT Manifesto Part 1 of 2 Rubric Cube Veracity and or Efficacy - 260802 edit

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  “The world we see that seems so insane is the result of a belief system that is not working. To perceive the world differently, we must be willing to change our belief system, let the past slip away, expand our sense of now, and dissolve the fear in our minds.” - William James “All experience has shown mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed.” - Thomas Jefferson “Wherever good fortune enters, envy lays siege and attacks it. And when it departs, sorrow and repentance remain behind.” - Leonardo da Vinci “Struggle is the indispensable accompaniment of progress. If men were entirely social, man would stagnate. A certain alloy of individualism and competition is required to make the human species survive and grow. Without qualities of an unsocial kind men might have led an Arcadian shepherd life in complete harmony, contentment, and mutual love. But in that case all their talents wou...
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