Wednesday, February 22, 2012
Santorum-backing super PAC drops big money in Michigan
How to Save Your Money and Save Your Local Business This Holiday
How important is it to support your local business this holiday? This is written after Black Friday, so perhaps you are done with your shopping at a superstore. However, do you associate Thanksgiving with shopping? Are you more worried about holiday shopping than what each holiday really means to you? Read on...
I ask the above questions to myself this holiday season. I usually spend many days buying and wrapping gifts for Christmas every year. This year, I decided to change my behavior to change my kids' behavior. My tweens were more excited about Black Friday shopping than Thanksgiving. I simply blame myself.
We used to buy stocking stuffers from huge superstores. They carried cheap, small and light stuff that would last one season and then break. We had a lot of people on our list, and we felt that we had to buy something for everyone. We still managed to spend hundreds and thousands of dollars every Christmas buying small junk for everyone. Most were not made in USA, and we obviously contributed to our trade deficit problem.
Once I read an article by a writer whose house was filled with 'stuff' that were made in China. When she tried to buy some consumer products that were made in USA, she found herself visiting handful of stores without success (like coffeemaker) or found the items (some tools) too expensive to afford. We worry about our present economy and jobs and our children's future, but it is not enough to worry. We should do something about it.
United States manufactures plenty of things, such as aircraft, missiles, space equipments, big tractors, and farming equipment, according to SFGate.com on 2/17/2009. However, those are made by big companies, and those big companies profit and profit well. What about small companies, small businesses and mom&pop operations? They suffer tremendously because they cannot compete with China and other countries that can somehow afford lower pay for their workers. Whether the problem is underpaying their citizens, price fixing, or manipulating currencies, the end result is that we have massive trade deficit.
Someone may say that we still do fine as a country, but the middle class is shrinking, in case you have not noticed...?
I do not blame Chinese or anyone else. They have kids to feed also. It ultimately is our government's responsibility. We chose the politicians to do the best thing for us. I am not going to make this a political article. But, what can we do to help our economy? I say, 'buy made in USA', but that's because I live in USA. It would be 'made in Canada' for Canadians, 'made in Australia' for Australians. If you live in Texas, I mean, 'made in Texas'. And, if Houston is your home, I mean Houston economy.
Forget stockings and stuffers. If you reside in a warm area during the holiday season, visit your local farmer's market and make baskets of fresh fruits/veggies/cookies/other goodies. You may have to wait close to the holiday to shop and make the baskets, but you are definitely helping your local business.If you already have stockings, fill them with one or two handmade items from local artisans. It really is not about quantity. Don't forget to write, "handmade in...". Most will appreciate the quality and your intention.Send a nice homemade holiday card if you did not have a good year financially. We all know what it is like, all over the globe, and sending a warm and sincere wish is far more meaningful than stuffing cheap stuff that make your gifts look big.If you decide to send gift cards, consider them from local stores or something local workers can benefit. My favorites are local restaurant gift cards. Even if you buy gift cards from a national franchise, they hire chefs and waiters and workers from your local area.If you have time and talent, buy raw materials and make stuff on your own. Most people don't need any more stuff, but nice handmade and unique items are always appreciated.I love homemade coupons that are from kids, friends, and families. Can you tutor my child for 1 hour if you are a good tutor? I will bake my famous pies for you.If you decide to buy the cheap merchandise, buy from your local mom and pop stores and pay extra dollar, instead of going to big superstores. Even if the gifts are not made locally, you are helping your local business.Consider US (or your equivalent) Savings Bond or Stock Certificates.
Well, holidays are here, and what are we going to do about that? There are a number of ways you can save your money and help your local business this holiday. Try it, and you just may like it a lot!
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Mi. Thomas
Economics Article FeedFind More ArticlesSearchSimilar ArticlesBuy Handmade - It Really Does Matter!Top 5 Holiday Jobs For 13 Year Olds & YoungerMy Bathroom Smells Great - Thanks to a 15 Year Old Bar of Herbal SoapBeing in BeijingNicaragua - The Undiscovered CountryRecent ArticlesHow To Solve The Homeless SituationProgressivism Isn't Progress, VIIIHow Secure Is Your "Secure" Job?A True Comparison Of Increasing Debt Between Bush And Obama AdministrationsHow To Compete With ChinaWould Einstein Think Us Insane?What Will Happen If Greece Defaults?A Cluster of (Minor) ErrorsThe US Recovery Is Producing SurprisesA Sigh Of Relief For The Economic Status Of The USSubmitted On November 28, 2011. Viewed 0 times. Word count: 765.MLA Style Citation:Thomas, Mi.".".28 Nov. 2011EzineArticles.com.26 Jan. 2012
Thomas, M. (2011, November 28). . Retrieved January 26, 2012, from http://ezinearticles.com/?How-to-Save-Your-Money-and-Save-Your-Local-Business-This-Holiday&id=6720163Chicago Style Citation:
Thomas, Mi. "." EzineArticles.com. http://ezinearticles.com/?How-to-Save-Your-Money-and-Save-Your-Local-Business-This-Holiday&id=6720163
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Saturday, February 4, 2012
Quantity Of A Money And Its Control In Any Economic System Of A Country
How much wealth a country must possess in monetary form is a question which arose only after the world gave up the gold standard. Nobody asked that question before simply because money and gold remained synonyms and mutually convertible with ease during the gold standard regime. But thereafter indiscreet issue of paper currency without adequate currency reserves brought up for discussing the quantity of money as well.
Since money acts as a medium of exchange for marketing goods and services, the quantum of marketable goods and services determines the quantum of money needed for their exchange. The current total value of total marketable goods and services needed by a country at present can be determined by the statisticians after collecting necessary data. The figure so obtained will represent the purchasing power required by that country at present.
The national purchasing power is evidently a product of two factors-the market value for the country's monetary unit multiplied with the quantity of those units required to meet all the exchange needs of the country. This fact can be expressed mathematically in the form of an equation-P=MxQ-where P denotes the total purchasing power of the country, M denotes the market value of the monetary unit of that country, and Q denotes the quantity of these units required for all exchange purposes. With constant P any change in M or Q is bound to produce a proportionate adverse change in the other. If the market value of your monetary unit is reduced to half, you will need twice as many units as before, and if the market value of your monetary unit is doubled, only half the existing units will suffice to meet the country's exchange requirements. This equation implies that for any genuine increase in P, proportionate genuine increase either in M or Q or both is necessary.
This equation also explains the spread of inflation due to deficit financing after giving up the gold standard. Increase in the quantity of money by printing currency notes without adequate increase in the currency reserve always reduced the market value of the monetary unit proportionately.
Since national purchasing power is a genuine form of wealth, like all other forms of real wealth it can be increased only by creating additional wealth through the application of genuine productive efforts. All other make-believe gadgets are futile.
Deliberations over the quantity of money reveal some basic truths of grave importance about the monetary system. Since they deserve everybody's attention, they are recorded below.
1. The universally accepted practice of using paper currency as substitute for real money demands a cautious approach as it has already proved to be treacherous. To forestall its treacherous behavior is the first economic responsibility of any state.
2. As money is a genuine and not a mere make-believe form of wealth, any increase in it can be made only by first producing real wealth from natural resources and then converting it or some already existing real wealth into the monetary system i.e. by increasing the currency reserve with real wealth first, and then printing currency reserves of an equivalent worth. Without a proportionate increase in the currency reserve, printing and circulating paper currency is fraudulent and an act of treason.
3. To restore public confidence in the national paper currency the state must publish weekly statements of the currency department of the Reserve Bank or money issuing institution of the state. These statements must disclose full details of the constituents of the currency reserve.
4. Fall in the market value of one's currency is a signal of something going wrong somewhere. The state authorities should respond to such signals promptly and take appropriate remedial measures.
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Waleed Khalid Shaikh
Economics Article FeedFind More ArticlesSearchSimilar ArticlesSecession and The Gold StandardA Return To a Gold Standard Currency?Money, Gold and the Gold StandardThe Economic Role of Gold: A Brief Essay on How Gold Has Shaped Our EconomyHistory of Previous European Currency UnionsHow Gold Affects the Forex MarketGold - A "Bridge Over Troubled Water"Money: Gold and Silver, or Paper and Plastic?Gold Investments - Will Gold Continue to Rise?E-Currencies and Money Part 3 - Money, Investment, Payment System, Or All of the Above?Recent ArticlesHow To Solve The Homeless SituationProgressivism Isn't Progress, VIIIHow Secure Is Your "Secure" Job?A True Comparison Of Increasing Debt Between Bush And Obama AdministrationsHow To Compete With ChinaWould Einstein Think Us Insane?What Will Happen If Greece Defaults?A Cluster of (Minor) ErrorsThe US Recovery Is Producing SurprisesA Sigh Of Relief For The Economic Status Of The USSubmitted On January 07, 2012. Viewed 9 times. Word count: 614.MLA Style Citation:Shaikh, Waleed K.".".7 Jan. 2012EzineArticles.com.26 Jan. 2012
Shaikh, W. K. (2012, January 7). . Retrieved January 26, 2012, from http://ezinearticles.com/?Quantity-Of-A-Money-And-Its-Control-In-Any-Economic-System-Of-A-Country&id=6801743Chicago Style Citation:
Shaikh, Waleed K. "." EzineArticles.com. http://ezinearticles.com/?Quantity-Of-A-Money-And-Its-Control-In-Any-Economic-System-Of-A-Country&id=6801743
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The History Of Money
Currency - The Beginning
The first currency ever used, was in coin form and dates back to 600 B.C. by then King Croesus of Lydia in Asia Minor. At that time Lydia was located in what is now present day Turkey. These coins were minted from a naturally occurring alloy of gold and silver called electrum. And each coin had a specific weight of 4.7 grams. These coins functioned as a medium of exchange, unit of payment and were capable of preserving value.
In 400 B.C. it was the Great Aristotle that defined what characteristics should make up a sound currency. Here wrote that a currency should meet the following criteria.
• Scarcity
• Durability
• Homogeneity
• Divisibility
• Transportability
• Be easy to store
• Be difficult to falsify
Gold and silver meet all of the above requirements that Aristotle defined so many years ago.
Paper Currency - Sound Money
A paper currency is one that has mechanisms in place to control it from debasement. This is accomplished by pegging the currency against a specific amount of tangible assets such as gold.
An example; In 1944 shortly after World War II America and other major countries were experiencing inflation due to the economic strains from funding the war. All the Major Central Banks at the time had a meeting at Bretton Woods in New Hampshire for 3 days. During that meeting the attendees all agreed that the US dollar would be attached to 10% gold. And the other respective countries could hold US dollars in their Central Banks to insure the stability of their own currencies. This became known as the Bretton Woods Agreement.
This is when the US dollar became the World's Reserve Currency. That meant the amount of money that could be printed by the US. Federal Reserve was limited to 90 percent. They had to maintain the additional 10% in actual gold bullion which acted like a check valve against inflation.
From the time the Bretton Woods Agreement was enacted through 1971 inflation was kept in check within the United States and many other countries because gold protected the value of paper currency. During these times The US dollar was considered sound money due to the gold that was backing it.
Fiat Currency - Paper Money
Paper money also referred to as Fiat currency alone, can never hold any value by itself. Paper money can only become valuable when a government decrees it is to be used as a medium of payment and exchange. Another requirement is that the society as a whole must accept it as such. Basically faith in the paper money is met by both the government and its people. At this point paper money is classified as a Fiat currency. Fiat currencies are not backed by any tangible assets such as gold or silver nor any kind of merchandise. Therefore it is very easy to debase or devalue this type of currency by simply printing excess amounts of it. This through time creates inflation in a society.
In modern times Fiat currency was born into America and in many major countries throughout the world when in 1971 US. President Richard Nixon was forced to temporally end the Bretton Woods Agreement. When this happened it removed the last obstacle from money printing as there now was nothing to back the US dollar and nothing requiring it to be printed with any kind of accountability.
From 1971 until now, inflation has eaten away at the dollar losing more than 90% of its purchasing power. Sadly over all these years no US. President has ever tried to re-establish the Bretton Woods Agreement that Nixon temporally removed. Fiat currencies throughout history have always failed. Failing in Roman times, Greek times and soon history will repeat itself once again in modern times.
Tom Genot -
For information, news, articles and videos to invest in gold and silver and where the best places are to buy it. You will also find information for preparing and protecting you, your family and your assets from the pending economic crises and destruction of the US. Dollar. Author Tom Genot provides information and resources helpful to everyone. Insure your prepared beforehand, check us out at www.coinbullion.net.
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Tom Genot
Economics Article FeedFind More ArticlesSearchRecent ArticlesHow To Solve The Homeless SituationProgressivism Isn't Progress, VIIIHow Secure Is Your "Secure" Job?A True Comparison Of Increasing Debt Between Bush And Obama AdministrationsHow To Compete With ChinaWould Einstein Think Us Insane?What Will Happen If Greece Defaults?A Cluster of (Minor) ErrorsThe US Recovery Is Producing SurprisesA Sigh Of Relief For The Economic Status Of The USSubmitted On January 13, 2012. Viewed 7 times. Word count: 634.MLA Style Citation:Genot, Tom".".13 Jan. 2012EzineArticles.com.26 Jan. 2012
Genot, T. (2012, January 13). . Retrieved January 26, 2012, from http://ezinearticles.com/?The-History-Of-Money&id=6814416Chicago Style Citation:
Genot, Tom "." EzineArticles.com. http://ezinearticles.com/?The-History-Of-Money&id=6814416
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