Due to wartime inflation of bills of credit (“Continentals”) during the American War for Independence and the predictable economic effects, an old American colloquialism developed, “not worth a Continental” (although this phrase may have come about much later than the Revolutionary era). This article argues that Continentals only temporarily retained some value largely because of an initial promise of future redemption in gold and silver—a monetary “bait-and-switch.” (Additionally, interventions such as legal tender laws and the acceptance of paper money for tax payments may have offered some temporary support, but these measures were secondary to—and ultimately dependent upon—the original expectation of redemption in gold or silver).

26 December 2025

The United States is known for its sanctions that don't accomplish anything. Now China is trying the same tactic. Beijing has sanctioned twenty U.S. defense firms over arms sales to Taiwan. 

26 December 2025

President Trump telegraphed the move last month, warning that US military intervention in West Africa was certainly on the table after what he described as the mass killing of Christians by Islamic terrorists in Nigeria. Now, the president says the US military forces carried out powerful strikes against ISIS targets, framing the operation as a direct response to militants “viciously killing, primarily, innocent Christians.”

26 December 2025

Our plane landed at JFK at 10:30 p.m. after a nine-hour flight from Istanbul. Our day had begun in Riga, Latvia, where my wife, me, and our adopted Latvian daughter had been visiting, the Latvia trip being her high school graduation present.

25 December 2025

Shares of warship builder Huntington Ingalls Industries rose in premarket trading and are on track for the largest annual gain in 12 years, driven by news of President Trump's continued push to rebuild the U.S. Navy.

24 December 2025

A senior Japanese security official’s suggestion that Tokyo should consider acquiring nuclear weapons has ignited a firestorm of condemnation from across Asia and forced the government into immediate damage control. The remarks, reported by Japanese media last week, questioned the reliability of U.S. nuclear protection and proposed a potential reversal of the nation’s decades-old non-nuclear principles. The reaction was swift and severe, with China warning that such a path would “again bring disaster to the world,” highlighting the intense sensitivities and historical ghosts that continue to shape security debates in the region.

23 December 2025

Russia has reaffirmed that it will provide full support and stands in solidarity with Venezuela as the country faces a United States military blockade in the Caribbean. Moscow’s Foreign Minister Sergey Lavrov held a phone conversation with his Venezuelan counterpart, Yvan Gil, during which he expressed “serious concern over Washington’s increasingly escalatory actions in the Caribbean Sea,” according to a ministry statement.

23 December 2025

United States ruler Donald Trump has issued a veiled threat to the ruler of Venezuela. Trump said that Nicolas Maduro would be "smart" to get out of his position of power. 

23 December 2025

United States President Donald Trump wants to take over Greenland in the name of "national security." Earlier, Trump appointed a special envoy to the Arctic island, triggering a backlash from Denmark's ruling class.

23 December 2025

Facial recognition as a biometric school entry system is already being tested in 20 schools in Russia. Alongside the use of facial recognition, the school grounds are fenced, cameras are installed along the perimeter, and entry is through checkpoints.

23 December 2025