Today, in Canada, marks the day to the official end of the penny. As of Feb. 4, 2013, the Royal Canadian Mint will no longer circulate the one cent penny and all retailers throughout the country will adopt this. Starting on Monday, all cash transactions will be rounded to the nearest nickel: $1.02 will be […]
Archives for February 2013
Marc Faber: ‘Markets will punish central banks’ soon
Marc Faber, renowned investor and publisher of Gloom, Boom & Doom Report, appeared on CNBC late last week where he discussed the market rallies, the bond market, central banks, inflation and bullion. Faber warned viewers “that markets will punish central banks at some stage through an accident.” Reiterating his stances he has espoused for several […]
10 frightening facts about America’s declining standard of living since leaving the gold standard
In 1900, United States President William McKinley signed the Gold Standard Act, legislation that made gold the only standard for redeeming paper money. The bill would fix the value of the U.S. dollar at 25 8⁄10 grains of gold at “nine-tenths fine”, equivalent to 1.5 grams of pure gold. For many years during 1933, there […]
Ayn Rand: We live in the ‘age of envy’
World-renowned Objectivist philosopher Ayn Rand speaks in this in-depth interview about how we now live in the “age of envy.” Decades later, it appears the world still lives in it with the Occupy movement, tax-the-rich sentiment and getting something for nothing. It may have been in Milton Friedman’s “Free to Choose” book, but Rand’s comments […]
The Economics of Super Bowl XLVII: U.S. to spend $12 billion for annual sporting event
Despite total household debt in the United States reaching nearly $13 trillion, Americans will spend approximately more than $12 billion on the annual Super Bowl this weekend as the Baltimore Ravens taken on the San Francisco 49ers in New Orleans. Although there has been a severe financial decline in the U.S. since the 2007/2008 economic […]