Until 1933, the American dollar was redeemable for gold. The country then passed the Emergency Banking Act, aimed at restoring public confidence in the nation’s financial system and halting the exchange of dollars for gold. In 1971, President Richard Nixon made the decision to permanently suspend...
"We have gold because we cannot trust governments," President Herbert Hoover famously said in 1933 in his statement to Franklin D. Roosevelt. This statement foresaw one of the most draconian events in U.S. financial history: the Emergency Banking Act, which forced all Americans to convert their...
1 Comment on What was the Kronstadt Rebellion?What was the Kronstadt Rebellion? What was the Kronstadt Rebellion? The Kronstadt rebellion took place in the first weeks of March 1921. Proclaimed by Trotsky himself as being the "pride and glory of the Russian Revolution," its sailors were renowne...
"Either Haiti becomes a paradise or a hell for all of us. It's out of the question for a small group of rich people living in big hotels to decide the fate of people living in working-class neighborhoods," Cherizier said, in a possible reference to the emergency U.N. Security Counci...
The government proclaimed a state of emergency. 9 Claim Asserting a legal right. The plaintiff claimed damages in the lawsuit. 9 Proclaim Making a public assertion. The activists proclaimed their demands. 9 Claim Making a claim on an insurance policy. After the accident, he claimed on his insu...
The Gold Standard: A History "We have gold because we cannot trust governments," President Herbert Hoover famously said in 1933 in his statement to Franklin D. Roosevelt. This statement foresaw one of the most draconian events in U.S. financial history: the Emergency Banking Act, which...
was joining forces with other gangs to force Henry to step down.Finance Minister Patrick Boivert, serving as Haiti's acting prime minister in Henry's absence, declared a state of emergency on March 3 and said officials were imposing an evening curfew to "take appropriate measures in order to...