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On April 12, 2009, the government of Zimbabwe officially abandoned its currency. You probably remember the stories; starting in the early 2000s, the Zimbabwe central bank began printing massive quantities of money in order for the government to make ends meet. This resulted in one of the worst episodes of
In the year 440 BC, more than two decades into the reign of Pericles, an audit of treasury in Athens showed a massive surplus of more than 9700 “talents”. A talent was a common unit of measurement in the ancient world, especially for gold and silver. And, based on today’s
The numbers are pretty startling. Nearly 7 in 10 Americans have less than $1,000 in savings. 1 out of every 3 Americans has nothing set aside for retirement. And, according to Federal Reserve data, the median working-age couple has saved just $5,000 for retirement. How is this even possible? How
Most of the world is in an uproar right now over the travel ban that Donald Trump hastily imposed late last week on citizens of seven predominantly Muslim countries. But there was another ban that was quietly proposed last week, and this one has far wider implications: a ban on
On March 30, 1999, the Wall Street Journal’s front page headline blasted the good news across the world: “Dow Industrials Top 10,000” The day before, the all-important US stock index, the Dow Jones Industrial Average, closed above 10,000 for the first time in history. It was a major milestone, and
[Editor’s note: We have made this content available as an audio and video podcast, but I encourage you to watch the video with the slides.] In the video I mention a preview issue of our 4th Pillar Investment Service. Click here to download it. For most of the past week,
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