When I was eleven years old – in 1981 – my “allowance” was $3.00/week; which I supplemented with a New York Post paper route that paid an additional $3.00/week. My parents kept giving me $3.00/week until 1983; when they deemed it was time to “work for a living” – which was just fine, as I found numerous opportunities to earn the then minimum wage of $3.35 per hour.
At the time, my friends called me “Pac-Man”; as I could beat ANYONE at the dot-chomping, ghost-chasing video game that ruled our world. To this day I still have a passion for early 1980s video games; which is why I bought the below “cocktail table” several years back from a great website called CustomArcades.com…
Anyhow, the cost of a video game – or pinball machine – was just $0.25 in 1981; and sometimes, you could even win a FREE GAME. Compare that with today’s prices of $1.00 – $3.00 per game, and let me know if you think INFLATION has been an issue.
Back then, the national debt was less than $2 trillion; but care of maniacal MONEY PRINTING, has ballooned to nearly $17 trillion; or $22 trillion including debts incurred by nationalized mortgage lenders Fannie Mae and Freddie Mac – conveniently accounted for “off balance sheet.” And if you think a portion of that $15-$20 TRILLION didn’t find its way into video game prices, I have a bridge to sell you in Brooklyn…
I have written exhaustively of the veritable EXPLOSION of worldwide inflation in recent years; despite essentially ALL Central bankers claiming it to be either tame or defeated…
…contrary to what even the most elementary analysis tells us…
However, an exclamation point to this farce emerged last week; when Andy Schectman, Michael Spector and I traveled to San Diego to participate in the Sovereign Society’s Global Currency Exposition. True, California is one of the more expensive states in the union; but it’s not like an isolated fiefdom. Depression and all, California has the nation’s largest population (over 38 million); and thus, 12% of Americans endure its skyrocketing prices each day. And those prices include the following…
$23 for a five-minute cab ride
$3.50 for a 16-ounce soda
$53 for a breakfast of oatmeal, coffee, and a side of bacon (room service “fees” included)
$12 for a small turkey sandwich
When I consider my $3.00/week allowance could buy me 12 Pac-Man games in 1981 – which given my skills, could last hours; compared to a pro-rated 35-second cab ride today – let alone, 5% of a modest breakfast at the Hilton (not the Four Seasons); I am terrified of how the MAJORITY will cope with the coming episodes of QE5, QE6, and “QE to Infinity” – not just in the U.S., but EVERYWHERE.
Japan’s New Stimulus May Trigger Yen Avalanche, Soros Says
“NO INFLATION, YOU SAY?” I beg to differ!
PROTECT YOURSELF, and do it NOW!
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They wont … Cope.
The propaganda emitted by the Federal Reserve System and the BLS is stunning, yet so many people buy into it and parrot it because it is “official”. Official or not, I call BULL-ONEY on it!
When I was 11 years old, the year was 1960. At that time, my Dad could buy a gallon of gas for the car for a quarter. That 1960 quarter was 90% silver and contained 0.1808 Troy oz. of pure silver. Even at today’s ridiculous paper price for silver, that quarter will still buy a $3.60 gallon of gas and even give back a bit of change. Inflation? What inflation?
We must never forget that inflation and deflation are monetary games played on us to extract our wealth. They are made possible by the existence of fiat money systems and the use of credit as money. Without these two financial aberrations, it is not possible to play these games on people to extract the fruits of their labors. Sound money is REAL money and not the mere promise of payment. Gold and silver are sound money and, when used as money, are immediate payment in full for any debt. Paper money is not sound money and, like all other debt instruments, is not money; it is the promise of payment at some nebulous time in the future. This makes today’s currency more like a promissory note or a mortgage than like real money. It is no accident that US currency has imprinted on it the words “FEDERAL RESERVE NOTE”. It is the term “NOTE” that is critical here, for a note is not money or payment at all, but merely the promise of payment.
Historically, the US has defined a dollar as 371.25 grains of fine silver. What we call a “dollar” today does not fit the definition, so is not a “dollar” but is just a piece of paper pretending to be a dollar. Personally, I prefer the look of the pretend money that comes in a Monopoly game to that created out of thin air by the Fed and the US Treasury.
Amen!
Spot on dude! My memories go back even further, clear back to the days when we still had real money. A soda was 10 cents (including the 5 cent deposit on the bottle). Gas was less than a quarter a gallon. My dad bought all the grocers for a family of five each week, I recall the family station wagon was full of grocery bags one Saturday when he returned from the grocery store, “Dad, how much did all those groceries cost?” He replied, “Twenty dollars.” When I was in high school my parents bought a brand new 3 bedroom house in Santa Barbara, California for $19,900. Like you, I got minimum wage in my first job, at the time it was $1.25 an hour. It isn’t minimum wage that needs to be adjusted, it’s our money. As you say, “Protect yourself! Do it now!!!”
Don,
Then you’re going to love this 1934 Christmas Catalogue I was just sent – when a gold standard still existed!
http://nickvt.blogspot.com/2013/03/1934-christmas-catalogue-from.html
Andy