This is why when we're done looking at the morning funny papers we know that compared to a century ago prices are more stable and we're better off.
GOLD has been the standard of wealth since long before the days of the Pharaohs
Full text of the House of Morgan coup attempt at the behest of the House of duPont because of the gold standard.
http://www.wanttoknow.info/plottoseizethewhitehouse
That’s a crummy graph. It starts right after the end of WWII with the world in need of rebuilding and the U.S. being the biggest power with little damage on the mainland. Monetary standards are important, but so are other factors.
“If the gold standard policy didn’t “improve the lives of average Americans”, how was it possible that, after 182 years, the average American was wealthier than ever?”
Maybe there were a lot of other factors involved, such as the industrial revolution, the Constitution that protected private property and individual rights, the patent system that protected intellectual rights, the literate electorate...
Forbes?
Isn’t that now a Chinese mag?
Just saying.
Gee, it’d be nice to see that chart extend backwards just a bit more. Say, to 1920 or so.
In the multitude of people is the king's honour: but in the want of people is the destruction of the prince.
Gold was the bitcoin of the day. Governments were powerless to control the value of their currencies, and , with gold, you could travel anywhere in the world and buy anything you wanted without government interference.
See why gold (and now bitcoin) has been demonized by governments worldwide?
“This is why when we’re done looking at the morning funny papers we know that compared to a century ago prices are more stable and we’re better off.”
The 94 million Americans out of work would probably disagree with you. People who shop for groceries do not think prices are stable. People whose hours are being cut do not agree with you. What planet do you live on?
Yikes --Monday morning and the market's in correction!
Last Friday the 'bears clobbered the stock indexes and IBD says there's a red light in front of us. On top of that the futures heat map says stock indexes are looking at another 2% drop, tho these futures contracts are upbeat (?). Meanwhile metals are tanking w/ gold and silver have fallen to $1,068.85 and $13.88.
Fortunately there are no major econ reports.
A fiat currency, and the massive government debt it allows, has been THE oxygen of progressive/left government and the nanny state for the last 40 years
Conservatives will continue to lose every major social and economic battle to the Left while the U.S. Government, the Fed and Wall Street have this unlimited ability to put us into debt
Inflation is just a stealth tax. Our politicians went to a fiat currency to steal more of our money.
I have an old article from the Dallas Morning News, Jan 1, 1900 page 12. “A CELEBRATED BAIL BOND” (about Jeff Davis) “A HISTORIC DOCUMENT SEEN BY FEW”.
Way down at the bottom it states that Salmon P Chase, Chief Justice of the SCOTUS, ruled that ONLY Gold or Silver was legal tender and the paper greenbacks that Chase earlier issued could NEVER be legal tender.
Thus the Great Depression was caused in large part by French and US policies of gold accumulation that withdrew large amounts of gold from the international monetary base and thereby triggered global deflation. Unfortunately, under a gold standard, what was then done inadvertently could be done intentionally by Russia or China as a matter of national strategy.