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A bank note given out by a goldsmith in that time was not just fiat money. It was actually a voucher which came with the guarantee that if it was given back to the goldsmith, that goldsmith would be obligated to give that amount of gold to the current owner of the bank note. That's why people considered those bank notes as if they were gold. Because they ...


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As a young person, the best way for you to achieve financial success is likely to 'invest in yourself', with education (formal and informal) / job training, pursuing a career, etc.. If you have no money to invest, knowing about investing and finances will not be immediately valuable. Step 1 would be to pursue a stable, profitable career. This can mean many ...


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In many countries there are companies that verge on the edge of being a bank, even though many people don't realize it. Casinos. They move massive amounts of money. Automobile companies. Their financing arm handles many loans The company that finances all those new smart phones that people pay for over 30 months. Companies that finance the purchases of ...


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If the company is paying the supplier for shipping, even when they forward that cost on to the member, it is still part of the COGS because the company does, in fact, incur a cost. The fact that shipping is passed on to the customer has no bearing whether the shipping is a cost of doing business. Here's a good link to read on the article explaining it: ...


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First, let's get clear on the 'Subprime Crisis of 2008.' I was working in banking at the time, and was considering seeking promotion into the mortgage department of the community bank I was working at. The Housing Market Crash/Subprime Crisis/Mortgage Bubble of 2008 was the culmination of a frenzied mortgage market that lead to absolute bananas demand in ...


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"The real causes of the housing and financial crisis were predatory private mortgage lending and unregulated markets. The mortgage market changed significantly during the early 2000s with the growth of subprime mortgage credit, a significant amount of which found its way into excessively risky and predatory products." According to https://www....


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