Over eight hundred years ago, in what is now northwestern China, the Uyghur people – long before they were carted off to internment camps by the Communist Party – ruled their own independent kingdom, known as Qocho.
Then, in the year 1209, Genghis Khan sent diplomatic emissaries to Qocho. The message was clear: the Great Khan wanted to avoid a bloody military campaign, and he proposed a peace offering instead. Continue reading
* Hackers May Have Stolen the Social Security Numbers of Every American: What You Need to Know!
* The Massive Social Security Number Breach Is Actually a Good Thing
* How to Check if Your Social Security Number Has Been Stolen in a Giant Data Theft
Thousands of books have been written on personal finance, financial planning, investments, debt management, and the topic of money in general.
Upon reading such books, a common theme becomes obvious: Personal finance is a straightforward discipline, at least in theory.
It boils down to harnessing a few principles that govern the generation of wealth: “Spend less than you earn.“ “Own more than you owe.” “Quickly pay-off high-interest debt.“ “Pay yourself first.” You’ve heard these principles before. Simplicity always prevails.
But if these basic principles are so easy to understand, why is it that many people, Canadians and Americans alike, are having problems with their finances? Continue reading
With a fickle stock market and broader economic uncertainty around the globe, Howard and Heather Short were looking for a safe harbor for their savings and financial stability.
The San Diego couple settled on gold.
After months of hearing advertisements promoting the Oxford Gold Group on a local talk radio station, the Shorts began transferring chunks of their retirement portfolio to the Beverly Hills company…. Continue reading
Photo by Drew ANGERER / AFP
Economic discontent at election time almost always heralds doom for the political party that holds the White House. But the economic malaise that has bedeviled the country throughout the presidency of Joe Biden is likely to weigh even more heavily now that the Democrats are attempting to pass the presidency on to his vice president, Kamala Harris.
While it’s true that inflation has fallen from the worst levels seen in four decades, the annual rate of inflation remains higher than it has been since the economy was staggering from the financial crisis. What’s more, the period of high inflation has lasted longer than any time since the Carter administration, leaving American households reeling from runaway price increases. Continue reading
Over a century ago the United States Congress approved a deceitfully promoted Federal Reserve Central Bank, which then established a new debt-based monetary system. Its concept of creating and introducing ever more currency into a country which had little debt, initially worked well to create economic stimulus at the time, and currency available to participate in WWI and WWII. Continue reading
Sometimes I have to ask myself if the people in charge actually know how to read.
Honestly I’m not entirely sure. Perhaps they know how to read… but they choose not to do so. Because it’s pretty obvious no one is paying attention to the details in the government most recent inflation report, which was just released this morning.
Everyone is cheering the news of 2.9% inflation, which the government said is “the smallest 12-month increase since March 2021”. Continue reading
…but they OWN and control the Dollar!
Historically — as during the days of the classical gold standard – central banks maintained stocks of gold to facilitate the conversion of gold-backed national currencies. Those days are long gone, but in modern times, many central banks continue to own gold, and many central banks buy gold as part of their open-market operations. For example, in his article last week – ”Central banks purchase gold to offset their own money destruction“ — Daniel Lacalle writes:
The rising purchases of gold by central banks are an essential factor justifying the recent increase in demand for the precious metal. Central banks, especially in China and India, are trying to reduce their dependence on the dollar or the euro to diversify their reserves.
The US’s central bank, the Federal Reserve, is not among these banks buying gold. Continue reading
If you are surprised by what is happening in the financial world right now, you probably haven’t been paying much attention. Stock prices were obscenely high and many investors were massively over-leveraged. The Dow Jones Industrial Average plummeted by more than 1,000 points on Monday, and stock prices are still obscenely high and many investors are still massively overleveraged. During the days ahead, we are going to see some wild ups and some wild downs, and this tragedy is going to take some time to fully play out. But without a doubt, we have got a major problem on our hands. Continue reading
Do you believe Donald Trump? He is entirely convinced that if we stay on the path that we are currently on we are heading into a “great depression”, and many believe that he is right on target. Unemployment is rising, manufacturing activity is contracting, bankruptcies are soaring, home sales have fallen to depressingly low levels, the cost of living crisis never seems to end, poverty is soaring and homelessness is at the highest level ever recorded.
Since Barack Obama first entered the White House, our politicians in Washington have been propping up the economy by adding 25 trillion dollars to the national debt. Now our national debt has crossed the 35 trillion dollar mark, and our politicians continue to spend money at a pace that is absolutely absurd. But despite this tremendous influx of borrowed cash, the wheels are starting to come off the U.S. economy anyway. Continue reading
