March 29, 2024

All that Glitters - and Doesn't

Chester McAteer

Today it takes $$31,015.25 (when Trump left office that amount was $26,142.53) Federal Reserve Notes to buy what $1,000.00 U.S.Gold-Backed

Dollars bought in 1913. Now this goes back to every Administration for the last 50 years, except now with the Biden Administration, the rate of inflation is rising more rapidly than ever before because the expansion of the money supply has been extraordinarily fast. Inflation is always a monetary phenomenon.

The value of the Federal Reserve Notes in terms of currency markets is very different from the purchase value the currency holds and that seems to be confusing to some when comparing the Dollar against other fiat currencies, rather than the Fiat Dollar against this historic Dollar prior to 1913, with the exclusion of the Lincoln Greenback era.

A U.S. Gold-Backed Dollar had the purchase value of 100 Cents, today each of those Federal Reserve Notes, or money substitutes, which are each a double liability on both sides of the ledger, has a purchase value of approximately 0.0378501135503 40651022 Cents each, that purchase value is decreasing with the expansion of the Money supply, it's called inflationary depreciation.

Today, over 50% of American workers earn less than $33,000 per year. That equates to about 17 ounces of gold per year, before taxes. Over 100 years ago, without any government mandates, minimum wage laws, or labor unions, Henry Ford paid his factory line workers 65 ounces of gold per year, tax-free!

So, if the average salary is $33,000 per year equates to $1,068.73 in 1913 US Dollar purchase power. Think about that for a moment. Think about this, people are clamoring for $15.00 an hour, that equates to $0.50 cents an hour in 1913 purchase power.

What the people of this Country need is real money that maintains its purchasing power despite Government actions.

Thus, since 1913 the currency inflation rate has been about 2765.8%, that is the amount of wealth that has been effectively stolen from the people of this country. The question is what happens when the purchase value falls close to 1 Cent per Federal Reserve Note? When the confidence of the people for these Federal Reserve Notes is abandoned, what does history show?

Posted by: Timothy Birdnow at 07:36 AM | No Comments | Add Comment
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