For more than 125 years, the United States had a gold-coin, silver-coin monetary system. No, it was not a paper-money system backed by gold, as so many mainstream commentators have been taught to believe. It was a system in which gold coins and silver coins were the official money of the American people.
Yes, there were paper bills and notes and other debt instruments issued by the federal government. And yes, oftentimes people would use them as a convenient way to pay for things. But everyone understood that these were nothing more than promises to pay money, not money themselves. The money that these debt instruments were promising to pay consisted of gold coins and silver coins, which, again, were the official money — or “legal tender”— of the American people for more than a century. Continue reading
Do you remember when we were told that the “Reagan deficit” was going to destroy the economy? In the past two and one-third months ending October 15 the US national debt increased by $1 trillion. That is five times greater in a mere 71 days than David Stockman’s exaggerated “$200 billion annual deficits as far as the eye can see” that he falsely attributed to President Reagan’s tax rate reduction. 
Things are about to get real interesting real fast, unless Chuckie Schumer decides to give in before the shit hits the fan – but that may be exactly what they are shooting for – food riots.
So, even if Congressional pay was stopped, they would just grin because the paychecks they really care about keep on coming.
The Great Depression did not arise in a vacuum; it was the result of a confluence of several factors that had been brewing throughout the 1920s. To fully understand the causes of the Great Depression, it is essential to look at the economic environment of the 1920s, commonly referred to as the “Roaring Twenties.” This period was marked by significant economic growth, technological advances, and an unprecedented rise in consumer culture. However, this prosperity was built on shaky foundations, and cracks were starting to appear.
Three to six months of emergency expense savings has been the standard caution. Rising inflation, lower purchasing power, and a contracting job market have put a dent in American household savings, and it is safe to say this trend is common among all nations grappling with the cost-of-living crisis. At present, 46% of Americans have enough emergency savings tucked away to cover three months of expenses. 
It feels like someone has pulled a plug, because the U.S. economy is suddenly caught in an extremely alarming downward spiral. As I discussed at the end of last week, investors are flocking to gold and silver because they can see that a storm is coming.
With the government shutdown now into its third week, Social Security beneficiaries have been assured that their monthly checks will continue to arrive. But if the budget stalemate stretches into late October or November, deeper strains on the Social Security Administration (SSA) could begin to affect millions of people who depend on in-person services, claims processing, and appeals rather than on the payments themselves. 
Although Trump is doing his best to turn around the disastrous economic policies of Joe Biden, worries continue. Grocery prices are ridiculously high. Young people cannot pay off their college loans because well-paying jobs are hard to come by. Buying a home has become an impossibility for all but the rich. Las Vegas symbolizes what’s happening across the country. The city caters to the rich high-rollers. It has now become way too expensive for an average person to visit. Cheap buffets of the past now cost a fortune. Vegas strips away money with resort fees, parking fees, and 10 dollar bottles of water. The casinos are tighter than ever and the crowds are dissipating. Homelessness is rampant. 
