Present Situation
In 1997, $1,300 million were exchanged every day on Foreign exchange market, about $475 billions per year.
The world financial transactions have jumped from $1,100,000 billions dollars in 2002 to $2,200,000 billions dollars in 2008 : 95% of this global amount is only used for speculation.
Read more about this topic: Financial Transaction
Famous quotes containing the words present and/or situation:
“The reverence for the deeds of our ancestors is a treacherous sentiment. Their merit was not to reverence the old, but to honor the present moment; and we falsely make them excuses of the very habit which they hated and defied.”
—Ralph Waldo Emerson (1803–1882)
“There had been no thievery or venality. We had all simply wandered into a situation unthinkingly, trying to protect ourselves from what we saw as a political problem. Now, suddenly, it was like a Rorschach ink blot: others, looking at our actions, pointed out a pattern that we ourselves had not seen.”
—Richard M. Nixon (1913–1994)