https://www.coinflation.com/
Here’s the illustration:
Place a silver dollar next to a $1 silver certificate on one side.
Then place a silver dollar (.7734 oz silver) next to 30 $1 FRNs in a stack on the other side.
Each $1 FRN is worth three cents in 1964 money. Simple, elegant.
I have a better example:
A $20 gold coin used to be tradable back and forth with a paper $20 bill.
Today, the $20 gold coin is worth $3,300.00.
Where did your other $3,280 go?
Inflation.
The government stole it by printing money.
Government issues currency. Government causes inflation by creating new dollars and putting them into circulation.
Inflation is all advantage to government, and all disaster to workers and retirees. Inflation turns the value of savings to essentially zero.
Any educated man knows that.
In the time of the Baby Boomers, a guy with a HS diploma could get a good job, buy a house, raise a family of multiple children, and save for a nice retirement. All on one income.
Society decided to change the rules. The money got devalued, manufacturing got off-shored, regulations screwed up real estate (and everything else) and women were told that they had to be just like men and sacrifice everything for a job.
Now we have people with two incomes who can barely make ends meet and have decided that they cannot afford children, and will never buy a house. The American Dream isn’t there for them anymore.
Typical Baby Boomer advice to young people: “Stop buying coffee at Starbucks. If you do that, you can have the American Dream back.”
In 1965 for $100 you could buy 1 oz. of gold and 50 ozs. of silver. What would that cost today?
Kleptocracy.
I lived on minimum wage for about a year in 1974. It was really difficult but I did it.
Bump...
Worrse than I thought.
Melt value is not equivalent to market value, except for the market value of selling the coins themselves. This article is silly.