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FOREIGN EXCHANGE: Any financial instrument that gives one country a claim on the currency of another country and which is used to make payments between countries. The most important type of foreign exchange is currency itself, that is, the currency of other countries. However foreign exchange also includes things like bank checks and "bills of exchange" (a sort of contract that's paid for with the currency of one nation that can be then traded for the currency of another country).
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UNCERTAINTY The observation and recognition that information, especially information about the future, is not known. While any number of events might occur in the future, uncertainty exists because which specific events will occur is unknown. A related concept is risk, which is assigning probabilities to potential future outcomes. Uncertainty is a central component in the economic study of information.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club hoping to buy either a handcrafted bird feeder or a New York Yankees baseball cap. Be on the lookout for letters from the Internal Revenue Service.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
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"The difference between the impossible and the possible lies in a person's determination. " -- Tommy Lasorda
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NYBOR
New York Interbank Offered Rate
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