Early U.S. Standard Soon after the United States won its independence, Congress had to decide how the country controlled and measured its currency. Founding fathers Thomas Jefferson, Robert Morris and Alexander Hamilton were the first to recommend the decimal system. The U.S. then adopted a silver standard based on the Spanish milled dollar in 1785….
The Fed raised rates yesterday, as I predicted back in December. The market dismissed it at the time, and only just caught on within the past couple of weeks.
Federal Reserve Chairwoman-Janet Yellen today raised the Fed funds benchmark rate .25% but said that she does not see economic growth gaining speed.
Since the creation of the international monetary system, the divide over financial and monetary policy has always been present. With the evolutionary rise in power of a new world money, everything has changed.
In 1900, shoppers could buy a 5-pound bag of flour for 12 cents. Round steak was 13 cents a pound, and bacon was a penny more. Eggs were 21 cents per dozen, milk sold for 14 cents per half gallon and butter cost 26 cents per pound.