Blog/America’s Economic History

Who was the Richest Man in Ancient History

QUESTION: Mr. Armstrong; You are a history buff. Who was the richest person in ancient times? Has there ever been a trillionaire? PD ANSWER: The Roman Emperor [...]

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Precious Metals were Worth Less than the Coinage

QUESTION: Mr. Armstrong; I do not understand your statement that even when coins were silver and gold, they were still a form of fiat money. Could you explain that [...]

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Has 95 become the New 65 for Retirement?

One of the more interesting downsides of the collapse in socialism is the impact upon the elderly. The data now shows that since the 2007-2009 recession, about [...]

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Jesse Livermore – Greatest Trader of All Time?

QUESTION: Dear Mr. Armstrong: Thanks for your soon reply. I ask you: 1. Why do you consider Jesse Livermore the greatest investor of all time?. 2. Which are the [...]

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The US Two-Tier Monetary System that Ended in 1971

QUESTION: You said the US had a two-tier monetary system under Bretton Woods. Can you explain that one, please? DHJ ANSWER: When Roosevelt confiscated gold, he [...]

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The Monetary Reform of 1857 Ends Legal Tender Foreign Coins

QUESTION: Mr. Armstrong, I found in my grandmother’s belongings a penny from 1855 and one from 1857 which was much smaller and silver in appearance. Was there [...]

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Joseph Napoleon Bonaparte & His Exile in New Jersey

QUESTION: Years ago, while visiting Salamanca, Spain, I was told that Napoleon’s brother abandoned his rule over Spain and made off with a large cache of [...]

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Getting the Facts Straight – Are they Just Oblivious to our History?

QUESTION: Mr. Armstrong, I was reading one analyst who claims we need a new dollar. He said that in 1832 Gold coins were produced at a face value of $20 each, and [...]

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When Sovereign Defaults Create a Depression

The 1840 Presidential Election took place in the midst of a great depression that was set in motion by State Sovereign Defaults after Andrew Jackson shut down the [...]

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California files Petition to Secede from USA – CALEXIT

A proposal for California to secede from the United States was actually submitted to the Secretary of State’s Office this week. The proposed “CALEXIT” [...]

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