Saturday, May 15, 2021

38 Incredible Facts on the Modern U.S. Dollar

by Jeff Desjardins, Visual Capitalist:
We’ve previously showed you 31 Fascinating Facts About the Dollar’s Early History, which highlighted the history of U.S. currency before the 20th century. This was a very interesting period in which we looked at the money used by the first colonists, the extreme bust of the Continental currency, the era of privately-issued bank notes, and Congress’ emergency issuance of the fiat “greenback” during the Civil War.

However, the modern era of the U.S. dollar is just as interesting. We have it starting in 1913, when the Federal Reserve Act was passed by Woodrow Wilson. Not only did it establish a new central bank, but it also gave the Fed the authority to issue the Federal Reserve Note, which is now the dominant form of U.S. currency both domestically and abroad.

Kevin Lawton – Cryptos Are Speculation Not Currency

from Greg Hunter:

Kevin Lawton, recently wrote a Kindle short titled “Beyond the Bitcoin Trap: A Crypto Currency for Human 2.0” predicts, “This year is going to be the year of volatility in Bitcoin price. I expect liquidations, but it’s like a tug of war. There are reasons for people to tug the price up . . . then on the regulatory side, for example, prices could go down.

Dying Middle Class: The Number Of Americans That Can’t Afford Their Own Homes Has More Than Doubled

0

by Michael Snyder, The Economic Collapse Blog:
Have you lost your spot in the middle class yet? For years I have been documenting all of the numbers that show that the middle class in America has been steadily shrinking, and we just got another one. According to a report that was produced by researchers at Harvard University, the number of Americans that spend more than 30 percent of their incomes on housing has more than doubled. In 2001, nearly 16 million Americans couldn’t afford the homes that they were currently living in, but by 2015 that figure had jumped to 38 million.

When I write about “economic collapse”, I am writing about a process that has been unfolding for decades in this country. Back in the early 1970s, well over 60 percent of all Americans were considered to be “middle class”, but now that number has fallen below 50 percent. Never before in our history has the middle class been a minority of the population, but that is where we are at now, and the middle class continues to get even smaller with each passing day.

Dave Janda’s Operation Freedom – Sunday, July 9, 2017 – Robert David Steele and Keith Neumeyer

by Dave Janda, Dave Janda:
Manipulation of financial markets, Benghazi, New World Order Syndicate, Obama Care, Free Market Health Reform, Putin, The Ukraine, ISIS, Syria, The Constitution, Natural resources, Reserve currency, Corruption, gold, silver Global Elite, International Banking Cabal, debt, Federal Reserve, Too Big To Fail Banks, Crony Capitalism, Debt Ceiling, Financial implosion, Recession, Economic Depression, Freedom, Liberty

Click HERE to listen to Keith Neumeyer

Click HERE to listen to Robert David Steele

Upton Sinclair: The Brass Check – Brazen Times in Donnie-dom

from Jesse’s Café Américain:
I will probably update the charts and other information over the weekend.

Considering that today was a Non-Farm Payrolls report, the action in the markets is not particularly surprising.   The talking heads were calling this an almost perfect ‘risk-on’ jobs report.   Right.  Plenty of crappy jobs at wage levels for an unsustainable recovery.    

Not one thing has change in my mind for the intermediate to longer term. Its just that the antics of the major corporate/financial players is becoming more brazen in Donnie-dom.

These quotes are from The Brass Check which was written by Upton Sinclair in 1919.
brass check was a token purchased by a customer in a brothel and given to the woman of his choice. Sinclair saw the moneyed interests of his day holding brass checks with which to purchase politicians, journalists and their editors, and other thought leaders of the day.

Market Report: Speculators Chicken Out

0

by Alasdair Macleod, GoldMoney:
Gold and silver continued to drift lower this week, with gold falling $20 from last Friday’s close to $1220 in early European trade this morning (Friday), and silver by 75c to $15.87. At this level, silver has lost almost all the gains of 2017, though prices bottomed last December.

The fall in prices has continued after the end of the half year, when the bullion banks have had a history of suppressing prices to window-dress their books. Doubtless a reason will be concocted to justify this price action, and favourite must be the deflationary effects of the Fed running off its mega-balance sheet. But this is to misread the current fragility of the system. We can state categorically that the US and global economies are simply debt junkies, needing increasing amounts of debt, or they die. Does anyone seriously think that the Fed and the other central banks will let this happen?

Bullion Banks line up in London to support LME’s Gold Futures

by Ronan Manly, BullionStar:
The London Metal Exchange (LME) and World Gold Council have just confirmed that their new suite of London-based exchange-traded gold and silver futures contracts will begin trading on Monday 10 July. These futures contracts are collectively known as LMEprecious.

The launch of trading comes exactly 11 months after this LMEprecious initiative was first official announced by the LME and World Gold Council on 9 August 2016. Anyone interested in the background to these LMEprecious contracts can read previous BullionStar articles “The Charade Continues – London Gold and Silver Markets set for even more paper trading” and “Lukewarm start for new London Gold Futures Contracts”.

This 10 July 2017 launch is itself over a month behind schedule given that LMEprecious was supposed to be launched on 5 June but was delayed by the LME.

A2A with Dave Kranzler of Investment Research Dynamics

by Turd Ferguson, TF Metals Report:
After a few weeks away, the award-winning webinar series “Access to Access” returns today with an update from our pal, Dave Kranzler of Investment Research Dynamics.

It’s always great to have Dave on as a guest and once again he did not disappoint. Over the course of this 54-minute call, Dave addresses a wide range of topics, including:

the developments today at Tahoe Resources
the current CoT structure and its implications for price
why Mother and her Goons are moving to raise the FF rate
possible gold and silver confiscation
how the mining shares may trade in a general equity bear market
and a whole lot more!
Please be sure to give this a listen and thanks again to Dave for all of his time.

Click HERE to Listen

Why the Next Recession will be a Doozie for Consumers

0

by Wolf Richter, Wolf Street:
Tougher for workers, rougher for the economy.

The employment data released today beat expectations nicely. In June the economy added 222,000 civilian jobs. April and May numbers were revised up. In total, over the past three months, nonfarm payrolls rose by 581,000 jobs.

This data will do nothing to deter the Fed from proceeding with its tightening plans. The Fed should never have cut its policy rate to zero, or kept it down that long, and it should have never engaged in QE. However, acting as lender-of-last-resort when credit froze during the Financial Crisis — when even GE and IBM had trouble borrowing to meet payroll — was essential to keep the system from collapsing. These short-term loans were not part of QE and were paid back. But the hangover of QE is still on the Fed’s balance sheet.

“It’s Too Late” – 7 Signs Australia Can’t Avoid Economic Apocalypse

0

from Zero Hedge:

AUSTRALIA has missed its chance to avoid a potential “economic apocalypse”, according to a former government guru who says that despite his warnings there are seven new signs we are too late to act.

The former economics and policy adviser has identified seven ominous indicators that a possible global crash is approaching — including a surge in crypto-currencies such as Bitcoin — and the window for government action is now closed.