Back when silver was $40 an oz, I’d pull out this roll of ten silver dollars and say, Back when we were in high school (early 70’s) you would put these in dollar slot machines. These were worth ten bucks. Back in 1920 they were worth ten bucks. Now they are worth $400. It’s not that they became so valuable. It is that the money (dollars) in which we measure their value have lost so much value.
It makes me sick.
“It is that the money (dollars) in which we measure their value have lost so much value.”
Wrong way to look at it. Do you get paid the same weekly wage as when that silver was $40? Is your house worth the same as when that silver was $40? Are your stocks worth the same as when that silver was $40? The answer to each of those is “No, they all increased as more dollars went into circulation as the economy grew bigger”,