Tariffs, Poverty Lines & Your Money

White House economic advisor Kevin Hassett said Wednesday that the authors of a New York Fed paper that found U.S. companies and consumers are shouldering most of the tariff burden should be “disciplined.” The paper in question concluded that 90% of the tariff burden is being shouldered domestically. “Prices have gone down. Inflation is down over time. Import prices dropped a lot in the first half of the year, that leveled off, and real wages were up $1,400 on average last year, which means that consumers were made better off by the tariffs,” he said.Gold Standard and SpendingSince the United States abandoned the gold standard in 1971, the value of the dollar has not been tied to gold. Despite this, the dollar has continued to serve as the cornerstone of the international monetary system. The absence of a gold-backed currency has shaped global financial dynamics and reinforced the dollar’s dominance.Understanding the Reserve CurrencyThe reserve currency plays a pivotal role in international trade and financial stability. Today, the world relies heavily on the U.S. dollar—often referred to as “Greenbacks”—as the primary reserve currency. This reliance means that the majority of global transactions and reserves are denominated in U.S. dollars, linking the financial health of many nations to the stability and strength of the dollar.With most of the wealth secured in stocks, real estate, and options, the interconnected must develop a new method of financial control, without leveraging their stock options, real estate portfolios, and capital gains tax status.Has a woman ever been pictured on U.S. currency? Martha Washington is the only woman whose portrait has appeared on a U.S. currency note. It appeared on the face of the $1 Silver Certificate of 1886 and 1891, and the back of the $1 Silver Certificate of 1896.What is “Checkbook” currency?At one time, private bindery companies would bind genuine currency notes in a “checkbook” fashion to be torn out as needed. However, BEP does not offer currency as a bound product. To acquire such an item, it is suggested that you acquire new currency notes from a bank and locate a bindery company capable of providing such a service. Such companies can be located on the internet or in your local telephone directory under the headings for “printers” and “bookbinders.”1876Congress passes an appropriation bill that directs the Internal Revenue Service to procure stamps engraved and printed at the Bureau of Engraving and Printing – provided costs do not exceed that of private firms. As a result, BEP begins producing almost all revenue stamps in fiscal year 1878. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit richdelivers.substack.com/subscribe