Don’t let Walker take away our rights.” That claim is repeatedly heard in Wisconsin as public-union workers try to recall Republican state Senators who voted for Governor Scott Walker’s plan to require the workers to contribute more to their retirement and healthcare costs and limit their ability to use “collective bargaining” to increase pay and benefits.
In 1987, as a freshman in college, I walked into the university library and took down a tome entitled the House of Rothschild. The book told a story of a humble Jewish family from Frankfurt that began as money lenders to the German aristocracy and expanded its wealth exponentially and geographically until its interests extended into the ruling houses of Austria, France, Italy, Switzerland, and the United Kingdom. The Austrian branch was endowed with titles and lands by the Hapsburg emperor and the British branch was similarly ennobled by Queen Victoria.
The latest study by The Pew Center on the States shows not only that states have not funded the promises they made to their employees when they retire, but that the gap between those promises and the states' contributions to pay for those promises is widening.
Edwin Vieira, Jr. is an attorney who has won three cases before the Supreme Court of the United States. He earned four degrees from Harvard University, including his doctorate. A popular speaker, he is also the author of the monumental two-volume survey of monetary history in our nation entitled Pieces of Eight. He resides in Virginia. The following interview was conducted by John F. McManus, publisher of The New American.
The price of one ounce of gold exceeded $1,500 yesterday, and immediately the media was filled with explanations. Jan Harvey, writing for Reuters, said gold was benefiting from “the threat of a downgrade to the United States’ triple-A credit rating this week and fresh worries over euro zone debt [that] fueled fears over the outlook for both the dollar and the euro.”