It's Only Money
http://www.usinflationcalculator.com/
The attack on cash has entered a new stage.
Kenneth Rogoff, the Thomas D. Cabot Professor of Public Policy at Harvard University and the former chief economist of the International Monetary Fund, is out with an essay this morning in the Wall Street Journal titled,The Sinister Side of Cash.…
…Getting rid of most of it—that is, moving to a society where cash is used less frequently and mainly for small transactions—could be a big help...
There is little debate among law-enforcement agencies that paper currency, especially large notes such as the U.S. $100 bill, facilitates crime: racketeering, extortion, money laundering, drug and human trafficking, the corruption of public officials, not to mention terrorism.…
The wealthy in china are buying houses in the US to have someplace to flee when they see signs of the collapse coming. … It could get very chaotic and the reverberations throughout the world would be quite loud and impossible to ignore. Just the collapse of the flow of manufactured goods be a huge disruption, driving prices through the roof for many common items, never mind high tech stuff, for a long period before other regions could ramp up production to take advantage.…
…A third of cash HELD BY CORPORATIONS is held by 5 US companies, not a third of the actual cash supply. …Can we please read shit before posting it?
…Apple (AAPL), Microsoft (MSFT), Alphabet (GOOGL), Cisco Systems (CSCO) and Oracle (ORCL) are sitting on $504 billion, or 30%, of the $1.7 trillion in cash and cash equivalents held by U.S. non-financial companies in 2015…
…we took a look at some of the weird and wonderful things that have been used as alternatives to money around the world, some of which are still in use today.…
Winning the lottery is exciting, but also exposes you to unique risks.…
One winning ticket matched the numbers drawn on Saturday night for the multi-state Powerball jackpot for a payout estimated at $429.6 million… purchased in New Jersey…
…Finally, the mystery was solved: The $2 bill wasn’t a fake at all.…
…According to the latest drivel from the intellectually-challenged Marcotte is the claim that we conservatives are having a meltdown over removing Andrew Jackson from the twenty dollar bill and replacing him with Harriet Tubman.
Really?
We’re having a meltdown? I’m not having a meltdown. Are you?…
There were one in five families in the United States in 2015, or 19.7 percent, in which no one in the family worked, according to data released by the Bureau of Labor Statistics.…
The United States Treasury on Thursday unveiled the final design for the new $20 bill featuring abolitionist Harriet Tubman…
…"Well I think Andrew Jackson was a tremendous secretary — I mean a tremendous president," Carson said. "I mean, Andrew Jackson was the last president who actually balanced the federal budget, where we had no national debt."
"Are you anti-Harriet Tubman?" Cavuto asked.
"I love Harriet Tubman. I love what she did, but we can find another way to honor her," Carson responded. "Maybe a $2 bill."…
This would be a delightful design…
The first accomplishment of California’s pioneering $15 minimum wage law is killing the revival of America’s clothing industry.…
Record 25,741,000 Foreign-Born People Employed in the U.S.
93,482,000 Americans Out of Labor Force in March
Canada has used up all of its gold reserves. For the first time since 1935 the country is out of gold. …
…Large denomination physical cash is going to be outlawed if central bankers have their way. The push toward a fully digitized monetary system─where every transaction will be recorded, scrutinized, controlled, and taxed─is being sold to the public as some miracle elixir to cure the world of criminal behavior.…
…The real reason the war on cash is gearing up now is political: Politicians and central bankers fear that holders of currency could undermine their brave new monetary world of negative interest rates.… Negative rates are a tax on deposits with banks, with the goal of prodding depositors to remove their cash and spend it to increase economic demand. But that goal will be undermined if citizens hoard cash. And hoarding cash is easier if you can take your deposits out in large-denomination bills you can stick in a safe.…
A bill prefiled in the Oklahoma House would create a state gold depository, an important first step toward establishing gold and silver as commonly used legal tender in the state.…
…“Sound money” has a clear message recognized for centuries around the world. It describes the musical, metallic ring of a gold, silver, or copper coin dropped on any hard surface – glass, stone, wood, or metal. Sound money literally refers to real wealth, with a natural, unmistakable signature of honesty and integrity, as opposed to the swishy paper and plastic debt used almost exclusively today.…
…In 1912, one person who warned against the passage of the Aldrich Plan, was Alfred Owen Crozier: a man who saw how it would all play out, and even wrote a book titled “U.S. Money vs Corporation Currency” (costing 25 cents) explaining and predicting everything that would ultimately happen, even adding some 30 illustrations for those readers who were visual learners.
The book, which is attached at the end of this post, is a must read, but even those pressed for time are urged to skim the following illustrations all of which were created in 1912, and all of which predicted just what the current financial system would look like.…
Ft Smith, Arkansas …waitress said she received a $2,000 tip [on a $278 total]… also gave the bartender a $700 tip and each cook a $100 tip…
…Jackson’s detractors often claim that he was a bloodthirsty Indian hater, who really embraced removal because he wanted to wipe out American Indians to please avaricious white frontiersmen. However, this one-dimensional view of Jackson as a Satanic butcher is an incredibly unfair characterization of a man who did not possess the virulent racial animus frequently ascribed to him. …
[T]he main thing wrong with the way that economics is taught in this country is just about everything. The problem starts with, as was posted here a few weeks ago, a little thing called Say's Law.
The short form of it is that production is what creates wealth, not sales. This wealth is created by making something worth more than the sum of its parts and the labor required to assemble it. When you sell something, you are only doing a transfer of the created wealth for stored wealth (money).
An economy without production does not create wealth, but constantly bleeds wealth as it buys imported products. This is why there cannot be such a thing as a consumer nation. Eventually, if you consume more than you produce, you run out of the money that makes consumption possible.
Or, basically, as common sense would put it... you can only buy what you can't afford until your credit runs out, and you can't spend your way to prosperity.
Sacramento homeowners called for what was going to be an expensive new heating and air system.... Workers installing the equipment found… hidden away in the house… $300,000 worth of gold.
I'm getting a feeling that both the Obama administration and the loyal opposition are concerned about an economy that they know is ready to screech to a halt in 2013.That’s why they are pushing the fiscal cliff story so hard with their known associates at the Congressional Budget Office. Certainly they know what the Fed knows; the Fed that has said it will keep interest rates at sub-zero until evolution produces men who can produce hundred dollar bills via extra sensory perception. The Fed, you see, is gravely concerned about the next year’s GDP outlook. And they should be.
A Carson City recluse whose body was found in his home at least a month after he died left only $200 in his bank account.
But as Walter Samaszko Jr.’s house was being cleared for sale, officials made a surprise discovery: gold bars and coins valued at $7 million.
In 2000, when the [Sacagawea dollar] coin was introduced, 5500 of them were given away in boxes of Cheerios as a promotion. Turns out that these Cheerios Dollars were slightly different than all the other Sacagawea Dollars. The tail feathers of the eagle on the reverse side of the coin had more details than the normal coin, and this made them more valuable. However, most of these Cheeries Dollars disappeared into circulation, and only around 70 of them have ever been found.
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