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from Bretton Woods to the non-system
from Bretton Woods to the non-system

... Constitution of the Bretton Woods System and the gold-dollar pattern. Hegemony of the dollar. The end of gold-dollar pattern. Eurodollars and oil-dollars. The financial globalization: movements of capital and financial crises. Financial liberalization and its impact on the dependent economies. Rise ...
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... The LTC lesson has been de facto ignored. Derivatives amounted to $100 trillion in 2002, when Warren Buffet called them “financial weapons of mass destruction,” and amounted to $516 trillion at the end of 2007 – roughly 35 times the US GNP. “The problem is that a formula which is helpful in diminish ...
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The Creation Process for Financial Assets

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Financial literacy

Financial literacy is the ability to understand how money works in the world: how someone manages to earn or make it, how that person manages it, how he/she invests it (turn it into more) and how that person donates it to help others. More specifically, it refers to the set of skills and knowledge that allows an individual to make informed and effective decisions with all of their financial resources. Raising interest in personal finance is now a focus of state-run programs in countries including Australia, Canada, Japan, the United States and the UK.The Organization for Economic Co-operation and Development (OECD) started an inter-governmental project in 2003 with the objective of providing ways to improve financial education and literacy standards through the development of common financial literacy principles. In March 2008, the OECD launched the International Gateway for Financial Education, which aims to serve as a clearinghouse for financial education programs, information and research worldwide. In the UK, the alternative term “financial capability” is used by the state and its agencies: the Financial Services Authority (FSA) in the UK started a national strategy on financial capability in 2003. The US Government also established its Financial Literacy and Education Commission in 2003.
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