A bank failure occurs when a financial institution becomes unable to meet its obligations to depositors and creditors, leading to its closure and liquidation. It signifies that the bank’s assets are insufficient to cover its liabilities, resulting in a loss of confidence and stability in the institution. Bank failures can happen because of insolvency, poor […]
The gold standard is a monetary system in which a country’s currency is directly linked to a fixed quantity of gold. Under the gold standard, the value of a currency is determined by the amount of gold that can be exchanged for it. For example, if a country’s currency is linked to gold at a […]
In March 2008, Bear Stearns went out of business. Before their collapse, both the Treasury Department and the Fed insisted that the housing sector and the economy were just fine. After Bear Stearns went under, the Fed used its magic behind the curtain to push buttons and click keys. In June of that year, Treasury […]
Let’s define what Social Security is supposed to be according to the American Heritage Dictionary. Social Security is a government program that assists persons faced with unemployment, disability, or aging. Social Security is financed by the assessment of employers and employees. Social Security is economic assistance and a system whereby the state either through general […]
What is a world reserve currency? A reserve currency or anchor currency is exactly that. The world reserve currency is the currency that is held in significant quantities by major central banks and other monetary authorities as part of their foreign exchange reserves. Being the world currency has had significant advantages for the US since […]
American currency, as designed by our Nation’s founders and enshrined in the Constitution, should be unquestionably sound. It was designed to be hard money: only gold and silver were to used to mint currency. Even when paper notes were first introduced, they were always redeemable for real hard money (gold) on demand at any bank. […]
The Group of Seven is frequently referred to as the most advanced global economies. This group includes Canada, France, Germany, Italy, Japan, the United Kingdom, and the US. I see this group as all headed in the wrong direction politically, economically, and financially. These countries are all drowning in debt and politically led by the […]
We are proud Americans. We stand with our country but we understand we don’t hear the truth, the whole truth, and nothing but the truth all of the time. This has never been as obvious as many truths are coming to light this very day thanks to the truthfulness and honesty of some heroes. One […]
The KRLA 16th Annual Wealth Summit provides attendees with insights and strategies to help them grow and protect their wealth. This year’s summit focuses on diversifying investment portfolios with precious metals. Hosts Jennifer Horn and Grant Stinchfield with special guest Ken Russo, Sr. VP of the Midas Gold Group, discuss how to make informed investment […]
A blockchain is a system in which a record of transactions, especially those made in cryptocurrency, is maintained across computers that are linked in a peer-to-peer network. The digital monetary world is closer than you think. In December 2021, the ECB titled their occasional paper series Central Bank Digital Currency: functional scope, pricing, and controls. […]
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