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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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To: DannyTN

How you twist everything?

You can pick up the same $20 gold coin from the turn of the century...not have to do ANYTHING to it and have it still have the same value today as 100 years ago.

You can’t do that with a greenback. PERIOD.

Paper money is worthless and they want it that way.

We will see how you feel when the dollar isn’t the reserve currency anymore...meanwhile I will laugh my way to the bank with my gold and silver while you use your greenbacks to wipe your butt.

31 posted on 03/04/2011 9:31:33 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: DannyTN
What did that $750.00 buy?
It's not the amount its what it can buy.
Basic question.
How much did it cost in Morris County, New Jersey?
a survey of retail prices advertised in the Daily Record, October 1-15, 1900

Hat, Men's, Fine Felt Alpines, .48/each
Hat, Women's, French felt, untrimmed, .35/each
Men's coat, top coat, 6.98/each
Men's shirt, Eighmie, White, 1.00-2.00/each
Men's suspenders, “President” brand, .50/pair
Men's suit, worsted, 7.00-16.00/each
Men's underwear, blue ribbed, 1.00/suit
Same place in 1940 Check the prices. Almost the same for some iGirl’s dress, cotton, 1.55-1.98/each
Girl's skirt, wool, 1.59-2.39 Girl's snow suit, wool, 2 pieces, 4.85-5.98/each
Girl's white pinafore, .79-1.00/each
Men's flannel shirt, .98/each
Men's hat, 1.00-4.95/each
Men's hunting boots, leather, 2.98/pair
Men's jacket, suede, 6.50/each
Men's suit, tweed, 25.00/each
Women's coat, rain, 1.79/each
Women's dress, wool, 3.98/each
Women's jacket, “mannish” style, 2.98/each
Women's skirt, wool flannel, pleated front, 5.98/each
Women's stockings, Berkshire, .79/pairtems. Where is the huge inflation, price swings etc?

I have to lecture my students all the time on this simple point. Growing up in the 60’s the min. wage was $1.60. Gas was .23 per gallon etc. I have low six figure income now. I drive a 1999 van. The money is worthless.

43 posted on 03/04/2011 11:44:49 AM PST by prof.h.mandingo
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