It’s no secret that many members of Congress can claim the title of “millionaire.” In fact, over half of all members of Congress are worth at least $1 million, which is eye-opening when compared to the $174,000 annual salary they are paid. So, how did the richest members of Congress …
Read MoreWall Street, the beating financial heart of the US stock market, is a symbol of wealth, prosperity, and investment. But who really runs Wall Street? Is the US financial system overseen by the firms and funds that benefit the most from its movements, as some amateur investors on Reddit believe? …
Read MoreThroughout the 19th and early 20th centuries, much of the world used gold standards for its monetary systems. Sometimes, this was in the form of physical gold coins that were circulated through the economy. The rise of paper banknotes made the concept of carrying actual gold around less common, however. …
Read MoreIn the hills south of Louisville, Kentucky, there is a famous Army base called Fort Knox. There’s also a nearby government building called the United States Bullion Depository–not the same place. Public perception holds that all of the US’s gold–the same gold that serves as the “gold standard” for US …
Read MoreOne of the plainest examples of the US federal system at work is emissions standards. There are essentially two standards for vehicle emissions in the US: federally mandated standards that all states follow and the stricter standard set by California. For the most part, states follow one of these two …
Read MoreWhenever you’re checking out different bank accounts or looking into switching banks, you might see the phrase “FDIC insured.” If you’ve ever wondered what that actually means, then you’re not alone. Let’s take a closer look at how the federal government oversees banking and what that means for people looking …
Read MoreThe US government issues everyone a Social Security number. It’s critically important that you keep your number a secret from everyone because it’s very easy for criminals to commit identity fraud if they access your personal information. The internet is full of scammers and hackers who are trying to get …
Read MoreMuch of the world of banking and financial planning has completely moved to the internet. From simple things like buying groceries to complex financial tasks like investing in the stock market, more money changes hands online than through any other medium. In the modern era, it’s easy to get a …
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