The Business of Finance, by Pierre Benaim

The Business of finance

Pierre Benaim

Tuesday, 31th March

The world of finance interest me, but I don’t no anything on this subject. Even this day was instructive I believed that went spoken the finance more exactly like Financial market and not a museum.

At 12 am, we went to the restaurant Argo Tea who was very good and fabulous because it was very healthy.

We had the presence of fabulous guestspeaker who speaks about the finance of united states, inssurance and social coverage he speaks about it should be have a pension fund like a France and it’s very not normal for a big country like united states.

The second part of the day we are to go at the Federal Reserve Bank of Chicago. This one is one of the Twelves Federal Reserve Banks of the country in a old beautiful building.

In this Building we visited the Museum of Money and learnt many things about the different Financial crisis like crisis of 1979 and the creation of a bank system for the stability of money value.

Moreover we saw a little movie who explain the diffenrent part of Federal reserve bank like a secure payment.

Because of 1907 crisis, the American governement decided to create a central banking system to maintain maximum employment and stable prices, because the population wanted to remove their money of banks and it go to make the price of the change fall. The Federal Reserve système is composed of a board of governors.

In 1913 this new institution was created for to build a new Policy monetary nand one hundred years later the FED is one of the most respected of the world institutions.

Moreover in the Museum we can saw one millions dollar with 1, 20 and 100 $. Besides, we saw a bill of 10000 $ who they used in the past, it was really impressive. We also learnt how make the différence between real and fake money and I discover that i had a fake 1$.

To conclude, I found this day very interesting even I did not expect that. Nevertheless I learnt a lot about crisis and american moneyis very different in France and Europe but many things look like as the FED in Europe is the BCA (European Central Bank).