Russia Hoarding 661500 Lbs Of U.S. $100 Bills (31.5 Billion)

Russia Hoarding 661500 Lbs Of U.S. $100 Bills (31.5 Billion)
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Russia hoarding 661500 lbs of U.S. $100 bills (31.5 billion). Cash & gold is the “Work-Around” to the SWIFT System. Nearly 80% of all U.S. $100 Bills are overseas. Will Ripple or INSTEX replace U.S. Dollar hegemony?

Russia Hoarding 661500 Lbs Of U.S. $100 Bills (31.5 Billion)

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Welcome to the McAlvany weekly commentary. I'm Caban Orrick along with David McAlvany. You know last night we were sitting and talking about the show and you said you know I had a dream the other night and you told me about your dream and honestly Dave I know people who dream about a lot of things but you're the first person that I've talked to that literally dreamt of books in a library in acquiring a particular library. You want to tell the listeners what your dream was about the other night.

Well you had lots of sets of books that I really like and I think we've talked about the Oxford University Press dictionary set. That is one heck of a set of books as a reference. You get F.S. cobblestones book on history philosophy nine volumes said. For anyone interested in the history of ideas it's a must. But I had a dream the other night and in it I found a treasure trove of books and I found a used set of the every man library which is a literal set of books that's right is called the every man LaBrie it was a hundred volumes. It was constructed in 1960 by Joseph Malby Dent and then I think the collection was taken on by Alfred Knopf. Later on to be the publisher they've expanded the list about 500 books. But you know the original set was around a hundred said 19 06 Malapi less than 20 years later. You've got Columbia University launching classes relating to sort of the great literature of the Western world and they still as a university have a core curriculum based on the classics. Well out of the original class there at Columbia University came Mortimer Adler and he compiled a five hundred book anthology The Great Books he did that in partnership with the Encyclopedia Britannica and this is also a classic said I have it you and I have it because of you.

I think you were either in your teens or early 20s and you said Kevin.

Guess what I have access to and it's still on my shelf here at the office when the most important part of that particular series The Great Books is the two volume introduction called this and topic Hohn. And there's 102 essays which deal with the recurrent themes throughout world history. I mean this would be like the history of liberty in ten pages the history of beauty in ten pages the history of art in ten pages. It's basically the dialogue which has taken place through all of the classic works of literature and the commentary that you get from each of those writers. So I find it interesting that there's been multiple movements here in the United States toward a well-read and a well-rounded column in every man that was in history.

I mean we don't see that nearly as much now.

The controversy emerged in the 20s 30s and 40s around what our education system would be based on and pragmatism sort of took hold the argument was that there was really no crossover in subject matter and this was sort of championed by John Dewey. He argued that to be able to look on an interdisciplinary basis was a pluralist it was unnecessary to think and to learn in those terms. So you know that's where a well-read or broadly read person according the pragmatist school was just sort of unnecessary. Dewey won the day right. And he defined public education in the United States for nearly half a century.

Is our primary educational architect isn't it a sad thing that we've lost so because I remember reading a book that and you've read it to an education of a wandering man by Louis L'Amour. You know he lived here in Durango for a while. And to make a living he became a hobo. He served on a merchant ship. He was a cowboy for a while because even a boxer. OK so this guy did a lot of things but when he wasn't doing the things that it took to earn one thing he was home buying these little Nicole classic books that were available back in the 1920s. I've got a couple at home old antique versions of these things are mine. I've got one written by Byron OK and it was a whole series of books that you talked about every man every man really could afford these books they were either a nickel or a dime. But I know that that's where he got the education it took for him to write.

You know the volumes of books that he's written you know the design of these series of books whether it was the hundred which when the everyman series Harvard Classics had 50 books in their series and they ever miniseries 100 the Adler series five hundred. They all assume that their ideas and recurrent themes that every student whether you're learning formally or more informally on your own as you mentioned Louis Lamar.

There was a necessary background information to think well to think well I mean there was an assumption that you had a context as you read another author because that author also had read those books so providing a deeper understanding before you start processing information.

There's about a hundred colleges in the U.S. that still lean on a core curriculum tied to the classics That's 100 out of about 5300.

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Jacob Wolinsky is the founder of, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at) - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver

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