Federal Reserve

What is Money?

What is Money?  SILVER CERTIFICATE This note is a silver certificate. It represents a silver dollar. Pretty cut and dried ~ one note, one silver dollar, no room for guess work or monkey business.  UNITED STATES NOTE  This note represents debt of the United States. Notice the heading [...]

National “Home Town” Currency

National "Home Town" Currency National bank notes began their long existence on February 25, 1863, when President Abraham Lincoln signed into law the national currency act. The dual aim of the legislation was to provide a ready and steady market for the sale of U.S. bonds issued to [...]

Richmond VA Federal Reserve Building

      One of Richmond's landmark towers, the Federal Reserve Bank Building is also the largest in the city (700,000 SF). Most of the buildings usable square footage lies in three underground levels, each approximately 3 acres. The building also includes such amenities as a gym, [...]

The Dorito Solution

As we close out the year, it is appropriate to reflect on the series of events that have made this an extraordinary period in the world’s financial markets. For the first time in decades, there is a general consensus that all is not well with the dollar. In prior issues, we have attempted to [...]

Let Congress Do It

When the power to create our own money was given to the Federal Reserve in 1913, the logic granted was that the Congress could not be entrusted with this valuable franchise. They, it was said, would spend money that they did not have. This excess money would create inflation. The truth is that [...]


Recent news reports have revealed the fact that currently more than half of America’s households invest in the stock market. They take their dollar notes, or accounts, and then voluntarily convert them into the stock of companies. Thereby, accepting the value of stock in lieu of money. The [...]

The Myth of the Federal Budget

President Lyndon Johnson appointed a commission in 1967 to examine federal budgeting methods. The Commission recommended the combination of the Federal Trust Funds into a single administrative budget This method was touted as a way to get an overall view of the Federal government's total [...]

Dont cry for me…

Argentina, at the dawn of the 20th century, was the fourth richest country in the world. A market economy, complete with a nonintrusive government, encouraged a prospering middle class. A free press established accountability. State Chartered banks issued currency for necessary public works and [...]

The Electronic Chain

In previous issues of The World of Money, we have discussed the technology of biometrics. The concept is that of utilizing the human body as a component in a personal area network, or PAN. By now, you are most probably familiar with the “rice chip” embedded in the skin of mammals to [...]

Who’s Watching The Federal Reserve?

Three Billion Dollar Fed Surplus May be Dope Profits They call it the "Texas Mystery Money" a pile of cash worth more than 3 billion dollars that somehow materialized in the vaults at the San Antonio Branch of the Federal Reserve. Retiring member of the House Banking Committee, {quotes [...]
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