John Connally, President Nixon's Secretary of the Treasury, once remarked to the consternation of Europe's financial elites over America's inflationary monetary policy, that the dollar "is our currency, but your problem." Times have certainly changed and it now appears that the dollar has become an American problem. In a recent interview with the Wall Street … Continue reading Donald & the Dollar
Neo-Marxist Pope Francis As the new year dawns, it seems the current occupant of St. Peter’s Chair will take on a new function which is outside the purview of the office that the Divine Founder of his institution had clearly mandated. Besides being a self proclaimed expert on global warming and a vociferous advocate of … Continue reading Pope Francis Now International Monetary Guru
Former Federal Reserve Chairman Alan Greenspan, who was once laudably referred to as “Maestro” for his supposed astute stewardship of U.S. monetary policy, commented last week on the nation’s current political and economic climate: We’re not in a stable equilibrium. I hope we can all find a way out because this too great a … Continue reading Donald and the “Maestro”
Franklin Delano Roosevelt called the Japanese “surprise” attack on the U.S. occupied territory of Hawaii and its naval base Pearl Harbor, “A Date Which Will Live in Infamy.” Similar words should be used for President Nixon’s draconian decision 45 years ago this month that removed America from the last vestiges of the gold standard. On … Continue reading “A Date Which Will Live in Infamy:” President Nixon’s Decision to Abandon the Gold Standard
Despite trillions of paper currency units poured into the world economies since the start of the financial crisis, there has been no recovery, in fact, all legitimate indicators have shown worsening conditions except, of course, for the pocketbooks of the politically -connected financial elites. Yet, despite the utter failure of the current money and banking … Continue reading Don’t Expect a Return to a Gold Standard Any Time Soon
Antonius Aquinas 