A yield elbow is the point on the yield curve indicating the year in which the economy had the highest interest rate. It is the graphical relationship between the yield and maturity of bonds with various maturities and the same credit quality, at a specific point in time.
Liquid asset is an asset that can be turned in cash extremely fast. Usually liquid assets take no hits in price as everything happens to quickly for the price to change significantly. The most liquid market if currencies’ market.
Simply put, silver standard is a monetary arrangement where national currency can be converted into a certain amount of silver. With this system exchange rate is basically the difference between the amount of silver behind each of the currency. It was popular pre-20th century.
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