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January 12, 2014
Julius Caesar (100-44BC) The economic history of mankind has always been a story of boom and bust. Throughout time, we find crisis after crisis in the recorded pages of history. The slogans of revolution or revolt have far too often been merely a disguise for economic motives by the state, king, minister or emperor. The […]
January 12, 2014
The Financial Crisis of 1971 was the culmination of a series of events that began during the early 1960s. Politicians set the gold ratio to the dollar at $35 an ounce that was decided in 1934 by Franklin D. Roosevelt. However, politicians have a vest self-interest in always pretending they do a good job. Unfortunately, […]
January 12, 2014
During the early years of Washington’s Administration, Secretary of the Treasury, Alexander Hamilton, strive diligently to establish a sound system of banking in an effort to stabilize the currency of the nation. However, due to failure of Continental Currency and the lack of immediate convertibility into the proposed federal US dollar, speculation and volatility plagued […]
January 12, 2014
South Sea Bubble originated plan was that of the English statesman Robert Harley, 1st Earl of Oxford. The scheme was a debt-for-equity swap in 1711, whereby the idea was to retire the floating national debt of Great Britain. Under the scheme, the debt was assumed by merchants to whom the government guaranteed for a […]