currency board

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12 Novels Considered the “Greatest Book Ever Written”

Rural Irish landscape, Sligo, Ireland.

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John F. Kennedy as a boy with his family

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Flags That Look Alike

New York NY/ USA- November 23, 2018 Hordes of shoppers throng the Macy's Herald Square flagship store in New York looking for bargains on the day after Thanksgiving, Black Friday.

Why Is It Called Black Friday?

Super Typhoon Noru over the western tropical Pacific Ocean as observed by the Moderate Resolution Imaging Spectroradiometer (MODIS) on NASA Aqua satellite July 31 2017

What Is the Difference Between a Typhoon and a Super Typhoon?

A human Inuit skull in a stone chambered cairn in Ilulissat in Greenland. These ancient graves are pre christian and are at least 2000

14 Tough Questions Answered

currency board

economics

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monetary policy of Hong Kong

In money: After Bretton Woods
…19th-century system known as a currency board. In such a case there is no central bank and the exchange rate is fixed. Local banks increase the number of Hong Kong dollars only when they receive additional U.S. dollars, and they reduce the stock of Hong Kong dollars when U.S. dollar…
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