The US dollar has been the world’s premier reserve currency since the Bretton Woods Agreement of 1944. Until 1971 it was redeemable by foreign central banks in gold at $35 per ounce. As long as [more…]
News here in the US has been full of the latest farce known as raising or not raising the debt ceiling. Today (Thursday, May25, 2023) the Wall Street Journal’s headline story reassures us that progress [more…]
Here we go once again, embarking on our explorations of the elements. Up to now, we’ve considered Hydrogen, Carbon, Mercury, Bromine, Oxygen, and Iron. We’ve also had a quick trot around a little basic chemistry, [more…]
Thorsten Polleit’s recent essay, The Road to a Single Fiat World Currency, explains the dangers of the current trend in the West to eliminate cash and create a world fiat currency in the place of [more…]
For many months now Alasdair Macleod of Goldmoney.com has been writing about the efforts of a group of non-Western nations, led by Russian economist Sergey Glazyez, to establish a new settlement system for international trade. [more…]
Transfer of our capacity to manufacture goods and mine energy and resources to developing countries served to endorse our virtual assets as we established and dominated new markets with economic colonialism. Ludwig von Mises noted [more…]
It should be patently obvious that putting the country into cold-storage for two years, and lavishing unfunded benefits to all and sundry to protect them from hardship, must carry dire consequences for Britain’s economy – [more…]
FDR had abolished private ownership of gold money but retained gold as the underlying asset for U.S. currency, exchangeable one for the other. Variations in the price of U.S. currency in ounces of gold served [more…]
One of Say’s Laws holds that “we produce to consume”. This is certainly the underlying theme of the Industrial Revolution with its accompanying exponential growth in production of technology, communication, and energy utilization. While private [more…]
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