Mostly about Utah
Millions of U.S. citizens are concerned about deficit spending and the possibility of high inflation and even hyperinflation. To illustrate how easily fiat money can become hyperinflated, I have been highlighting the top four countries that have had hyperinflation. They are: Hungary, 207% daily inflation rate in July 1946 Zimbabwe, 98% daily inflation rate in November 2008 Yugoslavia, 65% … [Read more...]
The 100 million mark banknote I am holding was mere pocket change compared to the value of the banknotes yet to be issued in 1923. In early 1921 German currency was trading at 60 marks to the U.S. dollar. By November 1921 there were 330 marks to the dollar. A year later a dollar bought 8,000 marks. In December 1923 the exchange rate was 4,200,000,000,000 marks to the U.S. dollar. The Wiemar Republic … [Read more...]
I recently wrote that I was concerned about the increased deficit spending by the Obama Administration. I showed what happened to Zimbabwe when the government failed to control their currency and their spending. Although hyperinflation destroyed their currency and their citizens lives, the worst offender of all time was Hungary. Above is a 100,000 Milpengo banknote if I am reading it correctly. … [Read more...]
Recently I have been concerned about the increased deficit spending by the Obama Administration. The risk of inflation, even hyperinflation, seems to be in our future. With a little study I was surprised to learn scores of countries have experienced hyperinflation. In November 2008, Zimbabwe had a monthly inflation rate of 79,600,000,000% and an annual rate of 89,700,000,000,000,000,000,000%. … [Read more...]
My guest writer is Sharon Smith of the Oak View Law Group. There is a crunch in the American economy and times are hard now. How is it possible to survive in this financial crisis? It is about time that you start saving for the "rainy day". Every family has an individual lifestyle to maintain. Here are a few tips, which can help you to save money, without compromising on the living standards. Do … [Read more...]
With China and India acquiring gold it is interesting to see that the United States still holds almost eight times the gold that China does and more than fourteen times India's reserves. Of note is that the United States has 78% of its foreign reserves in gold. Of the countries listed below only Greece (91.6%), Portugal (90.3%), and the Slovak Republic (83.3) have higher rates. However, China has … [Read more...]
The fuss lately over bank fees has left me mostly disinterested. After all, fees are what other people pay -- those folks who don't know how to manage their money. Wrong. When it happens to you then it isn't carelessness any more. It's just the law of averages -- sooner or later the fee devil will get you. Too Little Money When I was raising a family occasionally the bank would call and tell my wife … [Read more...]
China Buying Fewer Securities? I have read in the news several times this year that China [is] Losing [its] Taste for Debt From [the] U.S. If that was true last year it appears that China has changed its mind. Chinese holdings of U.S. debt have risen in 12 of the last 14 months for an increase of 52% (see table below). Of the ten nations in the chart above, eight have also increased their share of … [Read more...]
. This is my Easter Sunday talk I will give at church tomorrow. For a more traditional message watch the video. Speaking In Church I got a phone call from Brother Platt on April 1st asking me to speak in sacrament meeting. I thought it might be an April fool. When Brother Platt said that the bishopric needed a good speaker for Easter and they thought of me then I knew for sure it was an April … [Read more...]
My guest writer today is Anonymous who identifies a problem with Checking Finder that I have also experienced. My situation was resolved eventually by the bank to which I was applying when they contacted me directly. Read on to learn how to avoid the potential pitfalls during sign up. Avoid the Mistakes I had an interesting experience in trying to sign up with one of the banks on your list. I would … [Read more...]
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