A gold standard helps protect a currency from rampant inflation. The Fed could perform this function only if it could somehow display perfect self-control. Such an ideal may never occur and will never last when the temptation and incentives for the Fed to manipulate other parts of the economy are so great. Reform is necessary to protect our currency.Read more ›
Post Tagged with: "currency"
Ever wondered how a country could be driven to ruin from the inside? Europe is hard on its way to showing us. In fact, the socialists within the United States are vehemently trying, as usual, to emulate Europe…and bring the US to ruin as well. Bill Whittle explains how this can happen, using aerodynamics as an analogy.Read more ›
$2.59 trillion. That’s how much the Obama Administration anticipates it will collect in taxes in 2012. The national debt has increased every single year since 1957 according to the U.S. Treasury. It is never paid back, only refinanced. A debt crisis, such as is being experienced in Europe, is said to be impossible in the U.S. because of our willingness to continue monetizing the debt. So, with such a seemingly limitless capacity to borrow and print money, this raises a profound question: Do taxes matter?Read more ›
As part of the resolution to the 1973 oil shock, the petrodollar was born when Richard Nixon convinced Saudi Arabia to only accept dollars for payment of oil in return for protecting their oil fields and a guaranteed return on investments in U.S. treasuries. How long will the rest of the world will accept a now near-zero return on money held in treasuries — in short, a U.S. fueled inflation — just to prop up a monetary system pieced together by Richard Nixon and Henry Kissinger 40 years ago?Read more ›