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Saturday, August 8, 2009
More Than $500,000...............
Backers of Republican Rep. Ron Paul’s 2008 presidential bid are working their fundraising magic with prospective Connecticut Senate candidate Peter Schiff. They’ve rallied around Schiff, a libertarian financier and former Paul presidential adviser, helping him raise $528,000 since announcing in mid-July that he was formally exploring a challenge to incumbent Democrat Christopher J. Dodd. And today they are launching a “money bomb”—the type of one-day online fundraising push that helped Paul net more than $6 million in a 24-hour-period in December 2007—that Schiff organizers hope will bring in $200,000 more...Link
Its strength lies solely in faith in the currency.
Money is the most common medium of exchange, representing and functioning as legal tender. But how did man develop a world in which currencies are traded speculatively, where some are pegged against others, where others float – and where money can be exchanged without money being exchanged? Surely this was a gradual process, from cavemen trading saber-toothed tiger pelts to investing in weighted baskets of currencies in real time, the development of modern money contains many interesting steps along the way. The following is what we would humorously refer to as ‘the annotated history of money’...Link
Geithner asks for higher US debt limit........
WASHINGTON, Aug 7 (Reuters) - U.S. Treasury Secretary Timothy Geithner formally requested that Congress raise the $12.1 trillion statutory debt limit on Friday, saying that it could be breached as early as mid-October...Link
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