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Tag: "gold standard"

gold as legal tender

More states making move to gold, silver as legal tender

Arizona senators voted 18-10 on Tuesday to pass a measure that would make gold and silver legal for use as tender for payment. Earlier this month the same legislation cleared the Arizona House which leaves only Governor Jan Brewer’s signature before it becomes law. While U.S. currency will continue to be accepted in the Grand […]

How Many Times Does America Have to Go Over the Fiscal Cliff Before the Concussion Kills Us?

How Many Times Does America Have to Go Over the Fiscal Cliff Before the Concussion Kills Us?

  America has gone over the fiscal cliff so often; the concussions have definitely created economic brain damage and lunacy. First: “Fiscal Cliff” is nothing more than an economic political term for economic idiocy leaders engage in more often than they do with Dominican hookers and interns. Second: America goes over the fiscal cliff every […]

Fiat Money, the Gold Standard, and the Deficit

Fiat Money, the Gold Standard, and the Deficit

On August 15, 1971, President Richard Nixon ended the US gold standard for the trading of gold. The Bretton Woods System, enacted in 1946, created a system of fixed exchange rates that allowed all governments to sell their gold to the United States treasury at the price of $35/ounce. To be more precise, Nixon ended […]