“The division of the United States into federations of equal force was decided long before the Civil War by the high financial powers of Europe. These bankers were afraid that the United States, if they remained as one block, and as one nation, would attain economic and financial independence, which … Continue reading
Category Archives: Economy
Abraham Lincoln & the Central Bank
“The Government should create, issue, and circulate all the currency and credit needed to satisfy the spending power of the Government and buying power of consumers. The privilege of creating and issuing money is not only the supreme prerogative of Government, but it is the Government’s greatest creative opportunity. By … Continue reading
James Maddison & the Central Bank
“History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance.”
Thomas Jefferson & the Central Bank
“I sincerely believe that banking institutions are more dangerous than standing armies. The issuing power should be taken from the banks and restored to the people to whom it properly belongs.” “We are now taught to believe that legerdemain tricks upon paper can produce as solid wealth as hard labor … Continue reading
Historical U.S. Debt as Percentage of GDP
On August 7, 2024 the national debt reached $35,094,756,345,920.31 ($35 trillion). As the graph shows, it is now on a level not seen since the end of World War II. However, in 1940, just before the U.S. entered the war, the debt stood at about 45% of GDP. In contrast, … Continue reading
Status of the Dollar
According to the International Monetary Fund (IMF), the U.S. dollar share of global foreign exchange reserves declined from roughly 73% in 2000 to about 56% in 2020 despite the dollar’s continued appreciation during that period. Particularly noteworthy is the slope of the decline beginning in 2014, the year of the … Continue reading
Declining U.S. Dollar Share of FX Reserves
According to the International Monetary Fund (IMF), the U.S. dollar share of global foreign exchange reserves declined from roughly 73% in 2000 to about 56% in 2022 despite the dollar’s continued appreciation during that period. Particularly noteworthy is the slope of the decline beginning in 2014, the year of the … Continue reading