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Let interest rates be set free & the dollar be reanchored in gold. Almost a century old, the Fed is living in the past James Grant is the editor of Grant’s Interest Rate Observer. More important than anything that Ben Bernanke might say in his long-awaited speech Friday in Jackson Hole, Wyo., is the thing he won’t say, but should. Positively out of bounds for the chairman of the Federal Reserve is the [...] Food inflation will start hurting Asian economies by the end of the year if the current high prices are sustained over the next few months, with Vietnam, China and Hong Kong the most vulnerable, economists tell CNBC. Since mid-June, grains, namely corn, soybeans and wheat have rallied 38 percent, 24 percent and 45 percent, respectively, after the worst U.S. drought in a half a century wiped out crops in the world’s [...] People tend to have a short-term memory when it comes to financial panics. Even when told that the US dollar has lost over 90+ percent of its purchasing power since 1914 when the Federal Reserve was first established, many just assume this is normal. Inflation is as common as air. Today’s purchasing power of one dollar is equivalent to 4 cents to put this in perspective. The Fed is trying to inflate [...] People tend to have a short-term memory when it comes to financial panics. Even when told that the US dollar has lost over 90+ percent of its purchasing power since 1914 when the Federal Reserve was first established, many just assume this is normal. Inflation is as common as air. Today’s purchasing power of one dollar is equivalent to 4 cents to put this in perspective. The Fed is trying to inflate [...] The personal testimony of thousands of men and women who took part in the Easter Rising and War of Independence can be accessed free online They are the secret files deemed too incendiary for public consumption – and locked away for a lifetime. Now, after half a century under lock and key, eyewitness accounts of the bloody birth of a nation have been revealed. The personal testimony of thousands of men and women [...] From Azizonomics: The whole world knows the name Gavrilo Princip, and that of the man he assassinated, Archduke Franz Ferdinand. Princip’s shot triggered the Austro-Hungarian invasion of Serbia that set in motion the chain of events leading to the Great War of 1914. After Serbia appealed to Russia for help, Russia began moving towards mobilization of its army, believing that Germany was using the crisis as an excuse to launch war in [...] He remains one of the world’s most important scientists. But despite his innumerable professional successes, Einstein found it impossible to sustain a successful personal life. In his book, Einstein: His Life and Universe, Walter Isaacson describes how Albert Einstein found maintaining a harmonious love life a battle he would never win. In fact, so pragmatic was Einstein’s approach to love, that when he found his 11 year marriage to fellow scientist Mileva Maric [...] by Contributing Author Editor’s Note: Just about every decade over the last century has seen a major conflict somewhere in the world, and in one way or another the United States has found itself closely involved. While it’s impossible for us to predict exactly what leaders in America, Israel, Russia, China and Europe will do in response to claims that Iran is building nuclear weapons of mass destruction, from a preparedness and [...] Family Radio evangelist Harold Camping in an interview in April. (Screengrab from YouTube.com )The world will end on May 21, 2011. It was also supposed to end in mid-September 1988, some time in 1914 and on Jan. 1, 2000. Since we’re all still here, it seems those dates weren’t exactly accurate, but that hasn’t stopped doomsayers from continuing to predict the Rapture — even if they were wrong the first time around. The [...] by Lear Capital In a really bizarre moment in history, a single American dollar was actually worth 4.2 trillion German marks. It really happened. To fund its mega-expensive World War I effort, Germany severed the tie between its mark and gold — something that’s always happened, sooner or later, with government-generated currency. Today there are no gold-backed currencies in the world. After 1914 in Germany, the mark became just another fancy piece [...] Many serious hyperinflations have been omitted from this list, including the Mexican peso collapses. Angola |
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