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”
Feeling fear often can lead someone with a strong will to try to compensate for their weaknesses or prevent dangers. However, if that person is also smart, they may easily overcompensate. In worldly affairs, change and wealth arise from taking action, not merely from thought. If people experience a lot of fear and are both strong-willed and intelligent, they are more likely to become poor. This happens because they might believe they can achieve their goals through only thinking instead of taking further action. What these individuals often overlook is the value of time, which money cannot buy. - Joseph’s “just my thoughts”