Two mistaken lessons from the ‘20s and ‘30s haunt us today Prior to 1913 there was no central bank in the US, and yet the US enjoyed tremendous economic betterment in the post Civic War [more…]
Annual US public spending has been in deficit for decades. As a result total US debt continues to increase year after year with no end in sight. Well, the end may not be in sight [more…]
The purchasing power of the US dollar has been debased by over ninety-nine percent since the foundation of the Federal Reserve. [(An ounce of gold cost $20.67 in 1913. According to the Wall Street Journal [more…]
In a previous article I suggested that the BRICS, lead by China and Russia, might offer an alternative international trade settlement system that would be independent of the US and the dollar. The BRICS have [more…]
There is much gnashing of teeth and pulling of hair by just about every leader in the West, especially by an almost apoplectic President Trump, over a so-called “sinister threat” by the BRICS nations to [more…]
Oh, I know. You aren’t REALLY against free trade per se. You just demand a “level playing field”. Those Chinese cheat by raising tariffs against our goods and subsidizing key industries that they want to [more…]
In a previous essay I pointed out that it is very likely that the US will isolate itself from the worldwide trading system due to it past, frankly, unlawful actions to steal the assets of [more…]
Great forces are in place to change the world in which we have lived since the end of the Bretton Woods Agreement in 1971. These forces cannot be stopped. The leaders of Western democracies are [more…]
Since the Bretton Woods Agreement in 1944 the dollar has been the world’s preferred reserve currency; i.e., the major trading nations of the world were willing to hold dollars in vast amounts to satisfy their [more…]
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