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SDR: The abbreviation for Special Drawing Rights, which is a system of accounts nations have with International Monetary Fund that are used to settle any balance of payments deficits. In essence, SDRs are simply an international currency that makes it easier to conduct all sorts of international transactions. In decades past, when gold was used as the primary international currency, any balance of payments deficits was paid with gold. However, in 1967 this system of SDRs was established in lieu of sending gold all over the globe.
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SEIGNIORAGE The difference between the face value, or value in exchange, of money and the cost of producing the money. This seigniorage is effectively the profit government generates from producing currency--printing paper bills or minting metal coins. That is, government effectively "makes money" by making money.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors hoping to buy either a T-shirt commemorating yesterday or a pair of handcrafted oven mitts. Be on the lookout for infected paper cuts.
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This isn't me! What am I?
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Helping spur the U.S. industrial revolution, Thomas Edison patented nearly 1300 inventions, 300 of which came out of his Menlo Park "invention factory" during a four-year period.
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"Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis, Supreme Court Justice
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KSE
Korea Stock Exchange
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