When Lyndon B Johnson told the American people that the US government would replace the currently circulated silver coinage with clad coins, most people didn’t think anything of it. After all, in his speech, Lyndon B. Johnson had assured nobody would hoard the coins and that there was still plenty of silver, just not enough coins. So, on July 23, 1965, the US Coinage Act passed as law of the land, and the silver from the dimes and quarter dollars were stripped totally. (more…)
In a recent interview with precious metals for Bitcoin retailer GoldSilverBitcoin, precious metals dealer Miles Franklin analyst Andrew Hoffman predicted a dire future for Greece and the whole of southern Europe. Hoffman, once an oil analyst, sees global debt balance sheets ultimately giving way to grave economic dislocations in the future.
“Europe is, cumulatively, the world’s largest economy,” Hoffman said. “Greece gets all the attention, but the finances of and economic activity in many of the other nations – from PIIGS like Portugal, Italy and Spain to supposedly ‘strong’ nations like France, aren’t much better.” In the news, Puerto Rico received coverage behind Greece’s and China’s current economic woes. In Hoffman’s mind, Puerto Rico is a distraction. (more…)