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Foreigners continue purchase these freshly printed paper US Bonds (at a discount from face value or CV) only because these US bonds can be redeemed by purchasing title to privately owned land, hotels, farms, businesses, casinos and other assets that were created by previous generations of US citizens...
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The US government does not really borrow US dollars from US banks to pay for its expenses. The US congress passes laws that authorize Federal Reserve Board (via Chairman Ben Bernanke) to buy some paper and then print a bunch of new interest bearing paper currency instruments in varying amounts with the...
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MUST WATCH the Continental Convention 2009!!! Increadible! I was crying while watching the opening ceremonies. And the speaches are great. Not all the speakers are great speakers, but the information is fantastic. All the representatives were elected by their States. It's at www.cc2009.us Strangely...
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Monetary Evolution: Where are we today? Commerce today is dominated by “electronic” transactions. A business that does not support the use of debit/credit cards will be extremely limiting its customer base and will likely not survive. The emergence of this form of money was the credit card...