My wife and I recently drove just shy of three thousand miles to see friends and family in the American Midwest. We started just outside Philadelphia, located in the southeast corner of Pennsylvania on America’s [more…]
What Is Legal Money? Before delving into the dangers of eliminating cash and mandating that all transactions be conducted by digital means, let us briefly discuss the legal aspects of money. In the United States, [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…]
A good start Whatever one might think about which currency is better suited to be used in trade or as a benchmark or as a central bank reserve, the fact remains that the USD’s days [more…]
Endless ink has been spilled by economists and financial analysts in their efforts to predict the impact of de-dollarization. As might be expected, most of those who embrace a US-centric view of the world and [more…]
Last Tuesday, June 20th the Pennsylvania House of Representatives passed a bill to raise the Commonwealth’s minimum wage to $15 per hour by 2026. Although the bill is unlikely to pass the Senate, it seems [more…]
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…]
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