There was a period in American history, when there was no central bank.  The first one was just after the Revolution, followed by the second one, which lasted till President Jackson vetoed it, after the Congress voted for it. Thanks ‘Old Hickory!’  So, from 1832 till December 22, 1913, or fifty one glorious years, America […]

There was a first, second, and the current Federal Reserve.  The second was called, “The President, Directors, and Company of the Bank of the United States.”  It was chartered by James Madison in 1816, for a 20 year life, and was supposed to expire in 1836.  The bank was a private corporation which handled all […]

The “Morgan” silver dollar contains .7874 oz of pure silver, was minted from 1878 to 1904, and again in 1921.  It’s a beautiful coin, designed by George T. Morgan, a Brit, who was only 30 at the time, but who eventually became the U.S. Mint’s Assistant Engraver.  The obverse has the face of a woman, […]

The Last thing anyone should do, is invest in a failing institution or in a company denominated in failing currency.  The media is full of the ‘fact’ that China’s exports are down by 20%, but that their economy is still booming at a 6.5% a year increase.  This is while ours in the last calendar […]

The ‘penny’ originated in AD 790 in Britain, called the ‘Pence” and were a hundredth of a pound, like today’s pennies are a hundredth of a dollar.  “A penny saved is a penny earned,” was a phrase invented by Benjamin Franklin, and he published it in his Almanac.  Franklin also designed a penny called the […]

“…Investors Buy Up Gold” is the remainder of the headline in Friday’s (2/22) Wall Street Journal.  The following are direct quotes from the six column piece, with no words of mind added. “Investors are buying gold again as concerns about a slowing global economy are putting a premium on safer investments.  Gold prices are up […]

My birthday was yesterday 2/17.  I’m now 85 and in virtually perfect health.  I still don’t know why I retired, but I did. __________________________________________________________ The so called “Civil War,” or more correctly called, “The War of Northern Aggression,” began on April 12, 1861, with the North shelling Ft. Sumpter, after being warned not to do […]

The first recorded use of paper for money, rather than gold, silver, bronze, copper, iron, and other metals, occurred in China in the thirteenth century.  The then Chinese ruler, Kubla Khan, manufactured paper money from the bark of the Chinese mulberry tree.  On every piece, officials who been appointed to make the paper ‘valuable,’ wrote […]

It’s really nice to see silver and gold prices going up steadily of late.  Will they continue?  No one knows, but an article in Bloomberg might give us a hint.  Remember, silver is used in a variety of items currently popular, such as solar cells, computer touch screens, medicine, and of course jewelry.  Industry is […]

It’s kind of scary, but the top corporate pension plans are underfunded by over $225 billion.  That’s the private sector, and how about various State plans?  Illinois pensions for retired workers is only funded by 43%, and it owes $82.9 billion to make it whole.  Other states are similar.  So here a man or woman […]