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How the Postal Service Loses so Much Money

With an estimated 608 million boxes shipped by the online retailer in 2017, Trump is implying that Amazon has shorted the postal service by $893 million. Considering the USPS lost $2.7 billion, this further implies that Amazon is a key reason why the USPS is struggling financially.… Read More

The Gold Standard Act of 1900 and After

Any reform legislation had to wait until after the elections of 1898, for the gold forces were not yet in control of Congress. In the autumn, the executive committee of the Indianapolis Monetary Convention mobilized its forces, calling on no less than 97,000 correspondents throughout the country… Read More

Why we Now Measure Gold in Dollars — and Not the Other way Around

Prior to 1933, the name “dollar” was used to refer to a unit of gold that had a weight of 23.22 grains. Since there are 480 grains in one ounce, this means that the name dollar also stood for 0.048 ounce of gold. This in turn, means that one ounce of gold referred to $20.67.… Read More

The Monetary Breakdown of the West

To understand the current monetary chaos, it is necessary to trace briefly the international monetary developments of the 20th century, and to see how each set of unsound inflationist interventions has collapsed of its own inherent problems, only to set the stage for another round of interventions.… Read More

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