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To: crz

It is interesting when you go back before the Fed and take NY city for example back at the turn of the century a $20 gold coin could buy a nice a suit.

100 years later that same $20 gold coin can buy a nice suit but $20 can’t.

case closed :)


25 posted on 03/04/2011 8:42:28 AM PST by surfer (To err is human, to really foul things up takes a Democrat, don't expect the GOP to have the answer!)
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To: surfer
"100 years later that same $20 gold coin can buy a nice suit but $20 can’t. case closed :)"

Again, nobody cares. If you put that $20 in a savings account for 100 years, you'd still have enough to buy a suit. If you invested in 10 Year T-Bills you'd have enough to buy several suits.

If you want to hoard money in your mattress for 100 years, suffer deflationary depressions every few years, and have wild year to year swings in deflation and inflation, then the gold standard is for you.

100 years ago the average salary was $750 a year.

28 posted on 03/04/2011 9:19:43 AM PST by DannyTN
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