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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. What occurred after the economic downturn in 1818?
(a) After the economic downturn in 1818, a period of deflation followed.
(b) After the economic downturn in 1818, revenues were bolstered by increased taxation.
(c) After the economic downturn in 1818, loans were difficult to obtain.
(d) After the economic downturn in 1818, layoffs and bankruptcies followed.

2. What financing was behind the second Russian revolution?
(a) The second Russian revolution was financed by the Communist bloc.
(b) The second Russian revolution was financed by European countries and the US.
(c) The second Russian revolution was financed by Asian countries and the US.
(d) The second Russian revolution was financed by England and France.

3. What is the Rothschild Formula?
(a) The Rothschild Formula means that money could be made from warfare when the US is on the winning side.
(b) The Rothschild Formula means that money could be made from warfare when the winning side stands for social reform.
(c) The Rothschild Formula means that money could be made from warfare and from both sides of the conflicts.
(d) The Rothschild Formula means that money could be made from warfare and from the winning side of the conflict.

4. What would result if the money system returned to the gold standard?
(a) A return to the gold standard would result in instability and inflationary times.
(b) A return to the gold standard would result in instability and deflationary times.
(c) A return to the gold standard would require a period of financial pain and many fortunes would evaporate.
(d) A return to the gold standard would set off a boom-bust cycle.

5. What portion of the U.S. debt did a large portion of the tax dollar pay for?
(a) The U.S. debt continued to grow with a large portion of tax dollar going into paying the principal on the debt.
(b) The U.S. debt continued to grow with a large portion of tax dollar going into paying only the interest on the debt.
(c) The U.S. debt continued to grow with a large portion of tax dollar going to US war efforts.
(d) The U.S. debt continued to grow with a large portion of tax dollar going to entitlement programs.

Short Answer Questions

1. What was the goal of the secret society founded by Lord Alfred Milner?

2. How did governments devalue currency in fiat money systems?

3. What fraudulent global threat was invented to bring the entire world together?

4. What realistic scenario was discussed in Chapter 26 involving the U.S. monetary system?

5. What drove prices upward during the War of 1812?

Short Essay Questions

1. According to Chapter 24, what decade marked the beginning of a tremendous surge in U.S. debt?

2. In Chapter 10, what resulted from the Mandrake Mechanism?

3. According to Chapter 22, when was the Federal Reserve Act passed?

4. According to Chapter 11, what is the Rothschild Formula?

5. In Chapter 23, what was the real cause of the Great Depression of the 1930s?

6. According to Chapter 17, what dispute did President Andrew Jackson have with the leader of The Second Bank?

7. In Chapter 9, what restrictions were placed on the Bank of Amsterdam which was established in 1609?

8. In Chapter 16, when was the first central bank founded in the US?

9. According to Chapter 15, why was the use of fiat money disallowed in the United States?

10. According to Chapter 13, what was really behind the Russian Bolshevik Revolution?

(see the answer keys)

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