Wednesday, February 29, 2012

History of Money

It's important to understand how money works, and part of doing that is by studying how it's worked in the past. Money has progressed over the centuries from something pretty simple like bartering to something pretty complicated like derivatives. It's gone from being an object to an idea, so it's not tangible and intuitive. It's important to study money to grow rich. Some dates that are important:

1903 - Rockefeller's General Education Board takes over the U.S. education system
1913 - The Federal Reserve is formed
1929 - The Great Depression
1944 - The Bretton Woods agreement
1971 - Nixon takes the dollar off the gold standard
1974 - Congress passes the Employee Retirement Income Security Act
                        

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