The $50 Bill
Here are selected facts about its history –
1913: A new $50 gold certificate with a portrait of Ulysses Grant was issued.
1929: Under the Series of 1928, all U.S. currency was changed to its current size. All variations of the $50 bill would carry the same portrait of Ulysses S. Grant, same border design on the obverse, and the same reverse with a vignette of the U.S. Capitol showing the east front.
It’s interesting to note that Benjamin Franklin originally appeared on the $50 bill
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The $100 Bill
1914: The first $100 Federal Reserve Note was issued with a portrait of Benjamin Franklin on the obverse and allegorical figures representing labor, plenty, America, peace, and commerce on the reverse.
1929: Under the Series of 1928, all U.S. currency was changed to its current size and began to carry a standardized design. All variations of the $100 bill would carry the same portrait of Benjamin Franklin, same border design on the obverse, and the same reverse with a vignette of Independence Hall.
And here it is noted above that Abraham Lincoln originally appeared on the $100 bill.
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Therefore, in 1929, the US currency was redesigned and remains the same size today. But at the same time, stock prices continued to move higher until the reality set in that the economy was not as good as the Stock Market would suggest.
The Great Depression was a severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States. The timing of the Great Depression varied across nations; in most countries, it started in 1929 and lasted until the late 1930s. It was the longest, deepest, and most widespread depression of the 20th century
The Great Depression started in the United States after a major fall in stock prices that began around September 4, 1929, and became worldwide news with the stock market crash of October 29, 1929, (known as Black Tuesday.
As the year began, the economy was performing well, and market analysts expected this to continue. Share prices rose to new highs, and the sky seemed to be the limit. Then along came the Coronavirus and that changed everything.
Today we have a Federal Reserve Bank which can use various monetary tools to steady markets when they are in free-fall such as what took place earlier this week, when there was a trading halt once the major indices fell by more than 7 percent. This was the last thing the majority of market analysts were expecting to happen this year.
On the newswires from Barrons.com dated March 11, 2020, at17:04, the following appeared -The problem for U.S. stocks, however, is one of earnings, according to Goldman Sachs strategist David Kostin. After recently cutting his earnings forecast for the S&P 500 to $165 a share, he slashed it once again to $157, a drop of 5% from last year. That leads him to one obvious conclusion: “We believe the S&P 500 bull market will soon end,” he writes.
The sudden outbreak of Coronavirus is obviously taking a major toll on world economic activity and partly responsible for the sudden sharp drop on global stock market prices. How long and how deep this drop will occur is uncertain at this point.
But what is certain is that this disease is also having a major effect on those people in power who are enemies of the US and Israel as proven by the following recent TOI story-
DUBAI, United Arab Emirates (AP) — A state-owned newspaper in Iran says Masoumeh Ebtekar, a vice president in the Islamic Republic and a spokeswoman for the 1979 Islamic revolutionary hostage-takers, has the new coronavirus.
The report came from the English-language IRAN daily newspaper via its Twitter account.
Ebtekar is the latest in a string of top officials in Iran’s Shiite theocracy who have caught the virus.
Again, this proves G-d rules the world and can make our enemies pay a heavy price for their past misdeeds.
This message is very appropriate for Israel’s enemies during the week of Purim.