Money is the most widely used medium of exchange worldwide, serving as a way to buy essential goods needed for life or to store wealth. Since the country guarantees the stability of fiat currency, it becomes possible to exchange ‘things for money’ instead of ‘things for goods,’ unless the country goes bankrupt. However, this amount of money cannot be increased indefinitely. When there is too much money in circulation, its value drops below the price of goods, causing those who hold wealth in money to lose that wealth. The key point is that money is limited in the market. Due to this limitation, money gains value. The government regulates this money supply through the ‘interest rate.’ Raising the interest rate reduces the money supply, while lowering it increases the supply. This helps control prices. Therefore, understanding the interest rate is crucial for managing and valuing wealth, making it essential to know the interest rate above all else in life. - Joseph’s “just my thoughts”
Cotton needs 500 mm of water to produce cotton wool, and 1 kg of cotton wool requires 8,500 liters of water to fill 40 baths. A fashion company can make a pair of jeans from this. It needs at least 2,700 liters of water to create a T-shirt. This amount is enough for one person to use as drinking water for three years. Clothing consumption has recently increased by an average of 60% each year on Earth. The Aral Sea in Uzbekistan was the fourth-largest lake in the world, but it has now shrunk to one-tenth of its original size, as river water has been used to grow cotton due to increased consumption. Few people are concerned about how their consumption affects the global environment. - Joseph’s “just my thoughts”