Search results

Why did the US go ahead with unpegging of the Dollar from the Gold Standard and switch to oil? The reasons are, or to be precise, the reasons given by Nixon are there in my previous post. More on this at the end. Pegging of the dollar to oil was done so as to preserve its demand. If oil were...

Good question. This takes us back to the confiscation of gold in the US, not by virtue of a Congressional Act, but by virtue of an Executive Order. What followed was gold was hoarded by the US government. Now, Dollars printed against this gold was supposed to keep the Dollar stable. So far...

On the Petro-Dollar As we all know, the Petro-Dollar is essentially the Dollar as the require currency to purchase oil, as agreed by the US and the Saudi regime back in the 70s. How does this contrast with the Gold Standard Dollar? | | Gold Standard Dollar...

It is pretty late now. This is a question that needs a long (and boring) answer. :) Let me come back and respond, perhaps tomorrow?

No, it is a house of cards built upon a lot of thin air. :) Consider this: USSR's external debt at the time of its collapse: 45 billion dollars. USA's current external debt: 19 trillion dollars, going to be around 21 trillion dollars. This has been continuation so long only because the US...

Neither DT, nor HRC will bring about the downfall of the USA. The downfall of the USA started with Nixon and his unpegging of the US Dollar from the Gold Standard. Whoever becomes the POTUS, they will have inherited a decades long mathematically unfounded economic situation which is difficult...

The US Constitution is one of the best documents ever. It's about time Americans stood up and stopped its abuse, but that isn't going to be an easy task, as long as the media is in the control of the powers that be. I am hopeful though.