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 […]

  ©Copyright June 1988 The story of paper money goes back a long way. One could argue that its first emergence was even before 2500BC in Bablyon. For the sake of convienence, banking transactions took place in the form of a clay tablet which served as a “letter or credit.” While such forms of money […]

Part IV of IV—A Brief History of World Credit & Interest Rates by Martin A. Armstrong ©Copyright PEI  1700-Date As with most wars, noble motives are usually portrayed in some slogan that attempts to hide the true underlying financial incentives. The English Crown’s attempt to control and prevent irresponsible paper money issues among the Colonies, […]

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 I By Martin A. Armstrong Following the death of Julius Caesar and the conclusion of the final civil war of the period, the emergence of a major monetary reform under Augustus changed forever the monetary system of Rome. It is with Augustus that we find a complete […]

Caracalla 198-217 AD Son of Septimus Severus Marcus Aurelius Antoninus, originally named Julius Bassianus, was born at Lugdunum, Gaul, on April 6th, 188 AD. He was the elder son of Septimius Severus and Julia Domna. His original name, Bassianus, came from the Syrian side of his family. Following the Civil War in the aftermath of […]

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 […]

Titus Emperor, 79 – 81 AD Born 41 – Died 81 AD, Age 40 Titus Flavius Vespasianus Junior was the elder son of Vespasian and Flavia Domitilla. Titus was born in Rome on December 30th, 39 AD. Vespasian had served under Claudius in his conquest of Britain with distinction and honor. His reward was to allow his son Titus […]

Will Leverage Cause The Financial World to Blow Up? By Martin A. Armstrong Copyright October 9th, 1998 Princeton Economic Institute There has always been the question of leverage that enters into the process of any financial panic. The degree of leverage within the system is a key factor in determining just how severe the panic […]

Can the World Be Saved? Global Meltdown post July 20th Hedge Funds – Fed Social Threats of War & Designing A New World Financial System by Martin A. Armstrong copyright October 3rd 1998 Princeton Economic Institute There has been much turmoil in the past several weeks that has led to considerable outcry for everything from […]