The Ascent Of Money By Video Series

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“The Ascent of Money” video series is a quick overview of the history of money, currency and financial markets development. According to Harvard University Professor Neil Ferguson, money is a relationship built on trust between the lender and the borrower. Money can take many forms like clay, different goods, bonds, stocks, coins or paper bills. It causes greater threat to our prosperities. It is one of the tools of business that can “make us or break us.” Most of our money we do not even see, as majority of transactions are done electronically, and yet we still trust that it will hold its value. Our civilization is based on borrowing and lending of money. Without the credit, the economic history of the world would be impossible. With the assistance of these videos, we can better understand the sources leading to financial crisis and warn new investors of cheap credit, overpriced housing market, and financial firm’s mismanagement consequences. One of the important factors in landing is that any loan can go wrong. To protect themselves, banks started to ask for collateral. It became a smart idea to own a real estate and borrow against it. The love of the property got out of the proportions. The democracy of universal right to own a house was taken for granted. However, excluding the ethnic minorities from owning was a fast track to trouble. Economic discrimination was a direct result of government mortgage policies. The prime and subprime interest rates and Fannie Mae Bank
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