How Can the World Be Indebted If We Can Print the Currency?

money and world map

There’s a saying that “money makes the world go round” well, it’s true because money is valuable and you can use it in exchange for goods and services all throughout the world. But why do we have a controlled supply of money? Why can’t the government print money and hand it out … Read more

What is the difference between economic recession and depression?

What is the difference between economic recession and depression

An economic depression is considered a longer form of a recession. A recession is determined by two or more consecutive quarters of negative GDP growth, while a depression is measured in years and not quarters. During the Great Recession, the United States experienced six quarters of negative GDP growth (from the 3rd … Read more

What is BitConnect and how people lost all their money on it?

What is BitConnect and how have people lost all their money on it

BitConnect was a Ponzi scheme using its own cryptocurrency, the BitConnect coin. It was originally released in February 2016. Initially a huge success, after nearly two years, it lost most of its audience after being exposed as a fraud by multiple organizations. On January 16th, 2018, BitConnect officially announced that it was … Read more

Why can’t governments regulate cryptocurrencies?

Why can't governments regulate cryptocurrencies?

Governments can regulate cryptocurrencies. In fact, regulators from different parts of the world have taken steps in addressing and managing the challenges brought by the rise of virtual currencies, especially that the latter bypass financial institutions, firms and banks, and central and exchange clearinghouses. According to experts, cryptocurrencies and the activities it … Read more

Why do gift cards have an expiry date?

Why do gift cards have an expiry date?

If you are a person who loves to shop, then you must have come across gift cards. These cards are basically prepaid services that you can avail anytime you want. Well, not exactly anytime, because you must use it before it expires. A lot of businesses offer gift card services. It is … Read more

Which is the highest denominated US dollar note?

Which is the highest denominated US dollar note?

The highest denominated U.S. dollar is the $100,000 banknote, featuring President Woodrow Wilson, which the Bureau of Engraving and Printing printed from 1934-1935. The $100,000 bill, however, was not released and circulated in public. Federal Reserve Banks were the only ones that used them for their internal transactions. While it can still … Read more