Ellen Kelleher, writing for The Financial Times, opens her article with how Baird & Co., in their warehouses in London, purify gold by heating it to molten form to make “medallions, bars, and rings,? which sounds like a lot of heavy, hot, back-breaking, dangerous work to me, as if the word “work? was not bad enough by itself with the terrifying adjectives.
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The US Federal Reserve: A Rich History of Financial Folly
Ehow.com relates a piece of history in that “Since the creation of the Federal Reserve in 1913, the money supply had increased 240 percent from 1913 to 1920, because of a relaxed gold standard, and prices had risen by an identical amount.”
Gaahhh! Prices rising 240%! In seven years, the money supply increased 240%, meaning it more than doubled, as did prices! No wonder they had a recession!
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