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Gold Bug
"Gold bug" (sometimes spelled "goldbug") is a term frequently employed in the financial sector and among economists in reference to persons who are extremely bullish on the commodity gold as an investment or a standard for measuring wealth. Depending on the circumstances the term can have one or a combination of closely related and often overlapping themes that extend beyond the support for gold as an investment, including in some cases the use of the term as a pejorative. Various themes on the term * An investor or speculator who is very bullish in buying the commodity gold, or similarly themed financial products such as junior mining companies, gold certificates, bullion ETFs, and other derivative instruments related to precious metals. * A person who opposes or criticizes the use of "fiat currency" and supports a return to the use of the gold standard or some other currency system based on the value of gold and other "hard" assets. * Someone who considers one commodity, usually ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Sector
Financial services are economic services tied to finance provided by financial institutions. Financial services encompass a broad range of service sector activities, especially as concerns financial management and consumer finance. The finance industry in its most common sense concerns commercial banks that provide market liquidity, risk instruments, and brokerage for large public companies and multinational corporations at a macroeconomic scale that impacts domestic politics and foreign relations. The extragovernmental power and scale of the finance industry remains an ongoing controversy in many industrialized Western economies, as seen in the American Occupy Wall Street civil protest movement of 2011. Styles of financial institution include credit union, bank, savings and loan association, trust company, building society, brokerage firm, payment processor, many types of broker, and some government-sponsored enterprise. Financial services include accountancy, investme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Slate (magazine)
''Slate'' is an online magazine that covers current affairs, politics, and culture in the United States. It was created in 1996 by former '' New Republic'' editor Michael Kinsley, initially under the ownership of Microsoft as part of MSN. In 2004, it was purchased by The Washington Post Company (later renamed the Graham Holdings Company), and since 2008 has been managed by The Slate Group, an online publishing entity created by Graham Holdings. ''Slate'' is based in New York City, with an additional office in Washington, D.C. ''Slate'', which is updated throughout the day, covers politics, arts and culture, sports, and news. According to its former editor-in-chief Julia Turner, the magazine is "not fundamentally a breaking news source", but rather aimed at helping readers to "analyze and understand and interpret the world" with witty and entertaining writing. As of mid-2015, it publishes about 1,500 stories per month. A French version, ''slate.fr'', was launched in Februa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Digital Gold Currency
Digital gold currency (or DGC) is a form of electronic money (or digital currency) based on mass units of gold. It is a kind of representative money, like a gold certificate (United States), US paper gold certificate at the time (from 1873 to 1933) that these were exchangeable for gold on demand. The typical unit of account for such currency is linked to grams or troy ounces of gold, although other units such as the gold dinar are sometimes used. DGCs are backed by gold through unallocated or allocated gold storage. Digital gold currencies are issued by a number of companies, each of which provides a system that enables users to pay each other in units that hold the same value as gold bullion. These competing providers issue a type of independent currency. The Reserve Bank of Zimbabwe is also issuing the ZiG, a digital token backed by gold, which has also been granted legal tender status. Features Universal currency Proponents claim that DGC offers a truly global and bor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Judy Shelton
Judy Lynn Shelton (born 1954/55) is a former American economic advisor to President Donald Trump in his first term. She is known for her advocacy for a return to the gold standard and for her criticisms of the Federal Reserve (which she has compared to the Soviet Union's economic planning). Trump announced on July 2, 2019, that he would nominate Shelton to the Fed. Her nomination stalled on November 17, 2020, with a 47–50 vote in the Senate, and her nomination was eventually withdrawn by President Joe Biden in February 2021. During the Obama presidency, she advocated for a tight monetary policy, but reversed her position during Trump's first presidency, when Trump advocated for a loose monetary policy (lower interest rates). Her nomination was held up in the Senate, as senators of both parties were skeptical of her. However, shortly after Joe Biden won the presidential election, Senate Republicans appeared to move ahead to confirm her. More than 100 economists, including seve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bimetallism
Bimetallism, also known as the bimetallic standard, is a monetary standard in which the value of the monetary unit is defined as equivalent to certain quantities of two metals, typically gold and silver, creating a fixed Exchange rate, rate of exchange between them. For scholarly purposes, "proper" bimetallism is sometimes distinguished as permitting that both gold and silver money are legal tender in unlimited amounts and that gold and silver may be taken to be coined by the Mint (facility), government mints in unlimited quantities. This distinguishes it from "limping standard" bimetallism, where both gold and silver are legal tender but only one is freely coined (e.g. the monies of France, Germany, and the United States after 1873), and from "trade" bimetallism, where both metals are freely coined but only one is legal tender and the other is used as "trade money" (e.g. most monies in western Europe from the 13th to 18th centuries). Economists also distinguish ''legal'' bimeta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
William McKinley
William McKinley (January 29, 1843September 14, 1901) was the 25th president of the United States, serving from 1897 until Assassination of William McKinley, his assassination in 1901. A member of the Republican Party (United States), Republican Party, he led a realignment that made Republicans History of the Republican Party (United States), largely dominant in the industrial states and nationwide for decades. McKinley successfully led the U.S. in the Spanish–American War and oversaw a period of Manifest destiny, American expansionism, with the annexations of Hawaii, Puerto Rico, Guam, the Philippines, and American Samoa. McKinley was the last president to have served in the American Civil War; he was the only one to begin his service as an enlisted soldier, enlisted man and ended it as a brevet (military), brevet major. After the war, he settled in Canton, Ohio, where he practiced law and married Ida Saxton. In 1876, McKinley was elected to Congress, where he became the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1896 U
Events January * January 2 – The Jameson Raid comes to an end as Jameson surrenders to the Boers. * January 4 – Utah is admitted as the 45th U.S. state. * January 5 – An Austrian newspaper reports Wilhelm Röntgen's discovery, last November, of a type of electromagnetic radiation, later known as X-rays. * January 6 – Cecil Rhodes is forced to resign as Prime Minister of the Cape of Good Hope for his involvement in the Jameson Raid. * January 7 – American culinary expert Fannie Farmer publishes her first cookbook. * January 12 – H. L. Smith takes the first X-ray photograph. * January 16 – Devonport High School for Boys is founded in Plymouth (England). * January 17 – Fourth Anglo-Ashanti War: British redcoats enter the Ashanti capital, Kumasi, and Asantehene Agyeman Prempeh I is deposed. * January 28 – Walter Arnold, of East Peckham, Kent, England, is fined 1 shilling for speeding at , exceeding the contemporary urban ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Bullion Depository
The United States Bullion Depository, often known as Fort Knox, is a fortified bank vault, vault building located next to the United States Army post of Fort Knox, Kentucky. It is operated by the United States Department of the Treasury. The vault is used to store a large portion of the United States' gold reserves as well as other precious items belonging to or in custody of the federal government. It currently holds 147.3 million Troy ounce, ounces of gold bullion, a little over half the total gold presently held by the Federal government of the United States, federal government. The United States Mint Police protects the depository. The Treasury built the depository in 1936 on land transferred to it from the military. Its purpose was to house gold then stored in New York City and Philadelphia, in keeping with a strategy to move gold reserves away from coastal cities to areas less vulnerable to foreign military attack. The first set of gold shipments to the depository occurr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Conspiracy Theory
A conspiracy theory is an explanation for an event or situation that asserts the existence of a conspiracy (generally by powerful sinister groups, often political in motivation), when other explanations are more probable.Additional sources: * * * * The term generally has a negative connotation, implying that the appeal of a conspiracy theory is based in prejudice, emotional conviction, or insufficient evidence. A conspiracy theory is distinct from a conspiracy; it refers to a hypothesized conspiracy with specific characteristics, including but not limited to opposition to the mainstream consensus among those who are qualified to evaluate its accuracy, such as scientists or historians. Conspiracy theories tend to be internally consistent and correlate with each other; they are generally designed to resist falsification either by evidence against them or a lack of evidence for them. They are reinforced by circular reasoning: both evidence against the conspiracy ''and'' absenc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gold Standard
A gold standard is a backed currency, monetary system in which the standard economics, economic unit of account is based on a fixed quantity of gold. The gold standard was the basis for the international monetary system from the 1870s to the early 1920s, and from the late 1920s to 1932 as well as from 1944 until 1971 when the United States unilaterally terminated convertibility of the US dollar to gold, effectively ending the Bretton Woods system. Many states nonetheless hold substantial gold reserves. Historically, the silver standard and bimetallism have been more common than the gold standard. The shift to an international monetary system based on a gold standard reflected accident, network externalities, and path dependence. Great Britain accidentally adopted a ''de facto'' gold standard in 1717 when Isaac Newton, then-master of the Royal Mint, set the exchange rate of silver to gold too low, thus causing silver coins to go out of circulation. As Great Britain became the w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economists
An economist is a professional and practitioner in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. Within this field there are many sub-fields, ranging from the broad philosophical theories to the focused study of minutiae within specific markets, macroeconomic analysis, microeconomic analysis or financial statement analysis, involving analytical methods and tools such as econometrics, statistics, economics computational models, financial economics, regulatory impact analysis and mathematical economics. Professions Economists work in many fields including academia, government and in the private sector, where they may also "study data and statistics in order to spot trends in economic activity, economic confidence levels, and consumer attitudes. They assess this information using advanced methods in statistical analysis, mathematics, computer programming ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiat Currency
Fiat money is a type of government-issued currency that is not backed by a precious metal, such as gold or silver, nor by any other tangible asset or commodity. Fiat currency is typically designated by the issuing government to be legal tender, and is authorized by government regulation. Since the end of the Bretton Woods system in 1976 by the Jamaica Accords, the major currencies in the world are fiat money. Fiat money generally does not have intrinsic value and does not have use value. It has value only because the individuals who use it as a unit of account or, in the case of currency, a medium of exchange agree on its value. They trust that it will be accepted by merchants and other people as a means of payment for liabilities. Fiat money is an alternative to commodity money, which is a currency that has intrinsic value because it contains, for example, a precious metal such as gold or silver which is embedded in the coin. Fiat also differs from representative money, w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
