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Real wealth and real monetary value is created and/or acquired ONLY when the members of a family (or a nation, tribe, city-state, etc.) plant, grow and/or harvest something of commercial value from the earth, extract something of commercial value from the earth, provide professional services (medical...
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Economics, Trade Deficit, Government Spending Deficit, Jobs for Americans, and the Buying Power or value of the US Dollar are all interrelated. Each of these principles affect each of the others, and each is very important. These subjects need to be understood by the General Public. Economics is not...
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[quote user="Libertarian_for_Life"] According to Ch. 12 in "Economics in One Lesson", in the scenario in the 2nd paragraph, the British importers pays in pounds, then through exchange or direct buyback, someone in America must buy something from Britian because he can't use the...