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IMF: The abbreviation for International Monetary Fund, which is an agency of the United Nations established in 1945 to monitor and stabilize foreign exchange markets. Close to 150 of the world's nations (which is just about all of them) belong to the IMF. The IMF was set up to keep countries from manipulating their exchange rates in such a way as to gain a competitive trading advantage over others. Their strategies of control have changed over the decades, but they currently use a managed float where exchange rates are allowed to fluctuate with changing market conditions, but only within certain ranges. The IMF also plays an active role in providing the "international" currency needed to participate in foreign trade through its system of Special Drawing Rights.
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AVERAGE PROPENSITY TO SAVE The proportion of household income that is used for saving. The average propensity to save (abbreviated APS) is really nothing more than average saving. Together with the average propensity to consume, it indicates how a given level of income is divided between consumption and saving. A related saving measure is the marginal propensity to save.
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BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time watching the shopping channel seeking to buy either a decorative windchime with plastic or a flower arrangement for that special day for your mother. Be on the lookout for rusty deck screws.
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
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"To sit back and let fate play its hand out, and never influence it, is not the way man was meant to operate." -- John Glenn, astronaut, U.S. senator
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ITO
International Trade Organization
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