Monetary History of Canada Early 1600s: Beaver pelts are the one universally accepted medium of exchange, though wheat and moose skins are also legal tender Mid 1600s: Wampum, or strings and belts made from shell beads, becomes legal tender in colonial New England. Eight white beads or four purple beads buy one penny. June 8, 1685: The […]

The Paper Chase Part II ©Copyright June 1988 The Panic of 1869, which caused gold to rally significantly, was in itself a sign to the government that paper money would not win the affections and confidence of the people just yet – this would take time. The question of what was actually money remained an […]

Part I of IV—A Brief History of World Credit & Interest Rates by Martin A. Armstrong ©Copyright PEI  3000 BC – 500 AD—The Rise and Fall of Babylon – Greece – Rome Credit is usually thought of as a modern invention of perhaps only a few hundred years old. It is true that a few […]

The Monetary History of the Imperial Rome Chapter III By Martin A. Armstrong Claudius II died of the plague in 270 AD and was eventually succeeded by one of his leading generals – Aurelian. It was during the reign of Aurelian when the relentless attacks by the barbarians came to a temporary halt. Aurelian also […]

Diocletian 284 – 305 AD Died 316 AD Gaius Aurelius Valerius Diocletianus was born to a poor family in Dalmatia (ILLYRICUM) during the mid-3rd century AD. Diocletian entered military service, where he displayed a talent for leadership, prompting his career to advance. By 284 AD, Diocletian became a member of the legions under Emperor Carus and continued to […]

Abscissa – the horizontal baseline of a chart, x-axis. Ad Valorem Tax – A tax levied as a fixed percentage of the value of a particular item. Aggregate Demand – Total planned or desired spending in the economy as a whole in a given period. It is determined by the aggregate price level and by influences such as […]

Chapter 12: Land-Tax A land-tax, levied in proportion to the rent of land, and varying with every variation of rent, is in effect a tax on rent; and as such a tax will not apply to that land which yields no rent, nor to the produce of that capital which is employed on the land […]

BOOK TWO – INTRODUCTION OF THE NATURE, ACCUMULATION, AND EMPLOYMENT OF STOCK ——————————————————————————– IN that rude state of society in which there is no division of labour, in which exchanges are seldom made, and in which every man provides everything for himself, it is not necessary that any stock should be accumulated or stored up […]

  Copyright Martin A. Armstrong, all right reserved March 18th, 2012 Please register for Special Updates ArmstrongEconomics.COM / Princeton Economic Institute Copyright Martin A. Armstrong All Rights Reserved Disclaimer: Futures, Options, and Currency trading all have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to […]