Posted December 6, 2007 - 02:20 by Philip Brewer
For as long as there has been international trade, there has been a need to make international payments. To show up in person with gold or silver coins risked both your life and your wealth. Centuries ago--at least as far back as the early days of the silk road--this problem was solved with informal financial networks--networks that still serve the same functions today.
Posted September 24, 2007 - 14:23 by Philip Brewer
It takes more than $1.40 to buy one euro today. It cost less than $1 as recently as late 2002. A Canadian dollar is worth just about exactly a US dollar--a parity not seen since the 1970s. Should Wise Bread readers care? If so, what should they do?
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