First paper, then paper money. This is pure logic. It is hardly surprising that the first notes or better, the first paper money, appeared in China. With the invention of paper and printing on its account, this country was almost destined to produce the first paper money. During the Tang Dynasty (618-907) there was […]
The World’s First Paper Money was created in China 1,400 years ago Read More »
As of December 30, 2015, the official debt of the United States government is $18.8 trillion ($18,825,061,664,536). This amounts to: $58,361 for every person living in the U.S. $151,100 for every household in the U.S. 104% of the U.S. gross domestic product. 539% of annual federal revenues. At the close of the federal government’s 2014
US Debt is 10 times larger than all the US dollars in circulation Read More »
Between A.D. 307 and 324, the worth of one pound of gold in Rome rose from 100,000 denarii (a Roman coin) to 300,000 denarii. By the middle of the fourth century, a pound of gold was worth 2,120,000,000 denarii—an early example of runaway inflation, which was partly responsible for the collapse of the Roman Empire.1
