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REPURCHASE AGREEMENT: A common type of bank account in which funds are transferred from one account to another, then automatically transferred back after a short period, usually overnight. In effect, a bank customer buys a legal claim from a bank with the understanding that the bank will automatically "repurchase" this legal claim back after a specified time period. Repurchase agreements were original developed as a round about means of paying interest on business checking, which such interest paying was legally prohibited. Repurchase agreements are near monies added to M1 to obtain broader monetary aggregates, M2 and M3.
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ECONOMY The system of production, distribution, and consumption of goods and services that a society uses to address the problem of scarcity.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction trying to buy either a pair of designer sunglasses or looseleaf notebook paper. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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More money is spent on gardening than on any other hobby.
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"Success is the ability to go from one failure to another with no loss of enthusiasm." -- Sir Winston Churchill
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CCC
Commodity Credit Corporation (US)
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