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Contributed by Gary Giardina
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 Gold Bar
This all happened after the great depression. Foreign banks, who were afraid of the failing economy, were turning in their paper money in exchange for gold. The gold supply was being depleted in the US.S. Reserve. Up until then the United States had been on the gold standard. Many dollar bills, like the fifty, were printed with a yellow back which indicated it could be turned in for the gold rate.
The Executive Order 6102 made it illegal for anyone to own more than $100 worth of gold. Citizens had to turn in their gold in exchange for paper money. The gold coins were melted down into bars by the U.S. Treasury department. This was done to keep the U.S. Overseas market avoid panic and keep the dollar afloat. The tactic worked. |
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Contributed by Sam Vaknin
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 Dangerous Banks?
That banks are very risky - is proven by the inordinate number of regulatory institutions which supervise banks and their activities. The USA sports a few organizations which insure depositors against the seemingly inevitable vicissitudes of the banking system. |
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Contributed by Michael Killian
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 Tricky Business
UNIVERSAL DEFAULT - did you know the credit card company can raise your interest rate if you are late on ANY payment? I don't mean late just to the credit card but to ANYBODY! Be late on your phone bill, car, house... ANYTHING. Or if in the eyes of a creditor you simply have to much outstanding credit, all bets are off regardless of whatever interest rate you signed up for.
The logic is simple. The industry believes it is within its rights to protect its interest in a more risky unsecured loan venture. Therefore, it is not unreasonable to raise rates if it has reason to think risk of being repaid has changed. And as a lender, the creditor has every right to view your credit file any time it wants... all of your file and not just its own payment history.
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Contributed by James William Smith
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 Bernanke & Bush
Many pundits on the financial channels blame Federal Reserve chairman Ben Bernanke for this economic downturn. The belief is that the Fed did not lower interest rates enough in response to the housing lenders sub prime mortgage problems in 2007. Indeed the massive write-off's of bad loans by Citibank and other mortgage lenders are enough to give anyone pause.
Recently, to head off an economic downturn, the Bush administration proposed an economic stimulus package of tax rebates to increase the consumers' ability to spend. Consumer spending is vital for the United States to avoid a prolonged economic downturn. The Congress (which is now back in session) has promised fast bi-partisan consideration to that stimulus package as soon as possible. |
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Contributed by Euan Blauvelt
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 Hydrogen Economy
The world currently exists in a carbon economy. 80% of the primary energy which drives the world is derived from hydrocarbon fossil fuels; oil 35%, coal 24% and natural gas 21% and 11% is contributed by renewables, almost all renewable biomass. In the last two centuries the volume of carbon consumption has increased exponentially with the world’s industrialisation. |
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