Tag Archives: US dollar

Russia Says It’s Ready for Disconnection from SWIFT

Will blockchain be adopted as alternative?

Vusala Abbasova
Caspian News

April 30, 2021

As Brussels is tightening the screws on Russia by threatening to shut the country off from one of the quickest and safest ways to receive and send money via electronic bank transfers, Moscow is getting ready for any eventuality in case of a shutdown.

Andrey Krutskikh, Russian Special Presidential Envoy for International Cyber Security Cooperation, voiced Moscow’s readiness to respond if Russia is disconnected from the SWIFT global payment network. However, according to him, threats to disconnect Russia from the SWIFT system are unlikely to be realized.

The Russian foreign affairs ministry is reportedly considering blockchain technology as an alternative to SWIFT, the global payments network. The country’s leaders have recently voiced concerns that they might be cut off from SWIFT, prompting them to search for different options.
Continue reading Russia Says It’s Ready for Disconnection from SWIFT

Inflation of Federal Reserve Note

What if the United States maintained a silver backing for the dollar, which it abandoned in 1964?

How much things cost in 1933 vs today if we still had a silver backed dollar ($21.60 price conversation).

Average Cost of new house $5,750.00
Today $124,200

Average wages per year $1,550.00
Today $33,480

Cost of a gallon of Gas 10 cents
Today $2.16

Average Cost for house rent $18.00 per month
Today $388.80

A loaf of Bread 7 cents
Today $1.51

A LB of Hamburger Meat 11 cents
Today $2.37

Plymouth 6 Car $445.00
Today $9,612

Campbells Vegetable Soup 10 cents
Today $2.16

Average Laborers Wage $20.00 per week
Today $432.00

Of course this doesn’t take into account technology reducing prices over the years, which would make this comparison even more stark.

By the mid-1960s inflation of everyday goods and services is notable yet still restrained.

If we were still backing the dollar with silver, does anyone doubt that we would have a higher standard of living in this country today?

H/t Michael Gray