Paper money, paper money, and paper money! Is now, in several of the states, both the bubble and the iniquity of the day. That there are some bad people concerned in schemes of this kind cannot be doubted, but the far greater part are misled. People are so bewildered upon … Continue reading
Category Archives: REFERENCE
Universal Value Standard For All Currencies
Little did President Richard Nixon know, as he announced on television that fateful Friday, August 13th, 1971 the unilateral cancellation of the direct convertibility of the United States dollar to gold, that within just two generations his own words would epitomize the root cause of the American economy’s predicament: “But … Continue reading
Trade Deficit With China
U.S.-China Trade Facts U.S. goods and private services trade with China totaled $579 billion in 2012 (latest data available). Exports totaled $141 billion; Imports totaled $439 billion. The U.S. goods and services trade deficit with China was $298 billion in 2012. China is currently our 2nd largest goods trading partner … Continue reading
The Nixon Shock
The Nixon Shock was a series of economic measures undertaken by United States President Richard Nixon in 1971, the most significant of which was the unilateral cancellation of the direct convertibility of the United States dollar to gold. While Nixon’s actions did not formally abolish the existing Bretton Woods system … Continue reading
The Petrodollar
Petrodollar refers to United States dollars earned through the sale of its petroleum (oil) to another country. Origin In 1971 Richard Nixon was forced to close the gold window taking the U.S. off the gold standard and setting into motion a massive devaluation of the U.S. dollar. In an effort … Continue reading
Solar Power With Gold Nanocluster Technology
Western scientists revolutionize solar power with new “gold nanocluster” technology September 25, 2014 Scientists at Western University have discovered that a small molecule created with just 144 atoms of gold can increase solar cell performance by more than 10 per cent. These findings, published recently by the high-impact journal Nanoscale, … Continue reading
Universal Basic Income
America is running out of jobs. It’s time for a universal basic income. The politics of a guaranteed income get a lot easier when you acknowledge that the U.S. is no longer the land of opportunity Free money for everyone! With weak job growth, rising poverty, and the rich continuing … Continue reading
College and the Middle Class
Contrary to what some have been led to believe, a college education is not a panacea, only a distraction from the real reasons for our predicament. The fact is, even if colleges and universities wanted to accept each and every high school graduate, they do not have the … Continue reading
The Labor Participation Rate
As of March 2013, the percentage of working-age adults in the labor force -known as the participation rate- fell to 63.3%, the lowest since May 1979. Since unemployed people who stop looking for work are not counted as unemployed, the official unemployment rate is grossly understated. Part of the … Continue reading
China’s Achievements
In less than two generations, without vast oil reserves or mountains of debt, China has peacefully transformed itself into the world’s preeminent manufacturing powerhouse, and for that it deserves the highest praise and admiration. America’s trade deficit with it stems in part from China’s lower labor and medical care costs, … Continue reading