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Interesting how what a $20 gold piece would buy many years ago has similar purchasing power today. A $20 dollar bill basically will buy today what larger society thinks it will buy. Money is simply a medium of exchange. Even precious metals as coins do the same. I bet a $20 gold piece in the gold fields of California in 1850 wouldn’t buy much.
 
Not too far off…
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Kansas Jake said:
Interesting how what a $20 gold piece would buy many years ago has similar purchasing power today. A $20 dollar bill basically will buy today what larger society thinks it will buy. Money is simply a medium of exchange. Even precious metals as coins do the same. I bet a $20 gold piece in the gold fields of California in 1850 wouldn’t buy much.
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$20 in 1850 was worth a little over $700 !
 
LME said:
$20 in 1850 was worth a little over $700 !
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No, $20 in 1850 was worth $20. The people then didn't have a clue what it would be worth in 2022. So, when they did business in 1850 it was worth $20 or the equivalent of what goods it could be exchanged for in 1850. You need to reference your statements to $20 in 1850 would buy the equivalent of $700 dollars today. Words mean something & taken as you stated, without a reference, are meaningless.
 
Old Hawkeye said:
No, $20 in 1850 was worth $20. The people then didn't have a clue what it would be worth in 2022. So, when they did business in 1850 it was worth $20 or the equivalent of what goods it could be exchanged for in 1850. You need to reference your statements to $20 in 1850 would buy the equivalent of $700 dollars today. Words mean something & taken as you stated, without a reference, are meaningless.
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You are right but I believe everyone knew what I meant?
 
Packrat said:
Inflation nasty word. My personnel feeling is the Government should have de-valued the dollar a long time ago.
In the 1970 I was making $5000.00 a year. I had a home, a car, three children, and some extra spending money. By the time I retired I was making $100,000.00 a year, still had a home, a car three children and less spending money, why? because I payed more in taxes. IMO the only one who makes out in inflation is the government since they get to tax us at higher rates as our income increases but our buying power is lessened
I could be wrong but I don't see buying a car for $3500.00 in 1970's and basically buying a car today for $35,000.00 to $ 45,000.oo is much of a improvement
Ppund of powder at $4 to 5.00 today if you can find it, $25-30.00 Just my opinion
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I have to agree with almost everything you said!! Governments are the scourge and evil on earth. As far as devaluing the dollar. You can't devalue it much more....it's already worthless. You sure were right about the 60's and 70's!!! We are worse off financially than we were then. My scenario is the same as yours. Good fortune to you friend!
 
Old Hawkeye said:
No, $20 in 1850 was worth $20. The people then didn't have a clue what it would be worth in 2022. So, when they did business in 1850 it was worth $20 or the equivalent of what goods it could be exchanged for in 1850. You need to reference your statements to $20 in 1850 would buy the equivalent of $700 dollars today. Words mean something & taken as you stated, without a reference, are meaningless.
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You just described inflation.
 
Rock Home Isle said:
Long time ago, I recall a local area store, Jax Surplus…selling firearms, like Ruger revolvers for $8.60…trick was, you had to pay in Silver currency. This was at a time when a brand new Ruger was around $185.00.

Lot’s people were cleaning out their change jars and buying firearms. They did a bang up business for about 2 weeks.

I suspect we’ll be back on the gold standard in the near future…
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Dropped any change on the floor lately? There isn’t even any steel in it, just pot metal. Oh it will be so much better when all of our monies and retirement funds are bit coin - like; you know, so the can be evenly distributed…..
 
Billy Boy said:
Dropped any change on the floor lately? There isn’t even any steel in it, just pot metal. Oh it will be so much better when all of our monies and retirement funds are bit coin - like; you know, so the can be evenly distributed…..
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I don't think we'll be on the gold standard anytime soon. That would require that there be gold to back up every dollar printed. These freaks have this Country in so much debt, there isn't enough gold to back anything.
Coins today remind me off that fake money we used to buy as kids back in the '50's!! Sounds like plastic when dropped on bare floor. The money printed today looks even more phony than the play money!!
 
Dale Lilly said:
As long as we are willing for a 'business' to pay a guy 50 million per year to throw a football, we should not expect anything less than massive inflation. Dale
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I gave up that crap when they took a knee to my flag & my Country. My brothers & Sister paid too high a price....we didn't fight for Communism.
 
When everyone wants a "career wage" as starting pay for a high schooler, you have to raise prices to support it... Raising minimum wage does nothing to increase my current retirement and Social Security takes a year to increase to half of the inflation rate... when the price of most goods has nearly doubled, how does anyone figure that Inflation is only 7.3 pct?
 
Musket69 said:
When everyone wants a "career wage" as starting pay for a high schooler, you have to raise prices to support it... Raising minimum wage does nothing to increase my current retirement and Social Security takes a year to increase to half of the inflation rate... when the price of most goods has nearly doubled, how does anyone figure that Inflation is only 7.3 pct?
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I believe only fools believe inflation is at 7.3%!! That's the Communists in charge lying and manipulating figures as usual!! Gasoline up over 150%, diesel prices tripled, lumber tripled, metal doubled, food up over anywhere from 20% to well over 100%!!! Here is what I sent my 2 democrat federal senators and republican representative:

SENIORS THAT WORKED ALL THEIR LIVES, NOW ON SOCIAL SECURITY, AND VETERANS, I SHARED THIS WITH REPRESENTATIVE KEN BUCK, SENATORS MICHAEL BENNETT & JOHN HIICKENLOOPER OF COLORADO!! ALSO WITH STATE OF COLORADO GOP & DEMOCRAT COMMUNIST PARTY!! POLITICIANS ONLY CARE ABOUT 2 THINGS, "MONEY & POWER’!

I am not the only senior thinking the same thing! We want the same advantages of those illegals and welfare recipients that never worked a day in their lives. High fuel prices, groceries, lumber, everything that has to do with transportation, is skyrocketing, because of your lousy policies! We seniors on Social Security need and demand an immediate increase in payments of at least 20%!!! We can't afford fuel or food due to your economic policies! You can't blame Putin, because these prices were skyrocketing month's before Putin invaded the Ukraine! We also want the medicare copays, premiums, and deductibles, removed , just like medicaid provides to your illegals and welfare population. We on Social Security Medicare want. eye, hearing dental, and vision care, just like YOU provide to illegals and welfare recipients on medicaid!! You personally have done nothing for the seniors that worked hard all their lives, or for veterans. I applied for VA benefits over a year ago and still am waiting and will probably be denied!! It's easier for people to get WELFARE!!

AND BTW! THAT IS BS ABOUT YOUR GUN LAWS!! CRIMINALS HAVE NO LAWS THAT THEY OBEY!! YOU JUST TAKE GUNS OUT OF THE HANDS OF HONEST PEOPLE SO THEY CAN'T DEFEND THEMSELVES!! YOU AND I BOTH KNOW< COPS ARE THERE AFTER THE CRIME IS COMMITTED!! I WAS A DEPUTY AND THAT IS FACT!!!

KEEP SENDING THIS TO YOUR REPRESENTATIVES AND SENATORS! THIS WILL SHOW YOU THEY COULDN'T CARE LESS ABOUT THE WORKING CLASS IN THE U.S.A.!! IF IN 10 MINUTES THEY CAN VOTE TO SEND TENS OF BILLIONS TO A COMMUNIST DICTATOR, THEY CAN TAKE 10 MINUTES AND VOTE TO HELP AMERICAN WORKING CLASS!!

THEY ARE SENDING TENS OF BILLIONS TO THE UKRAINE WHICH IS JUST ANOTHER COMMUNIST COUNTRY RUN BY ANOTHER COMMUNIST DICTATOR
 
Billy Boy said:
Dropped any change on the floor lately? There isn’t even any steel in it, just pot metal. Oh it will be so much better when all of our monies and retirement funds are bit coin - like; you know, so the can be evenly distributed…..
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The kids at school don’t even take the time to pick up quarters, nickels or dimes on the floor in the hallway. I find it so unsettling…
 
Rock Home Isle said:
Yes, yes, yes…you get it. With the massive inflation that is about to hit us, the middle class will be destroyed…scary times…
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The politicians have a cute way of describing economics? The word resession came to be used a lot after the 1929 depression. The problem is to them it is a recession but to the eight to five working fellow it is a depression. All inflation happens to be is the seed that is grows from.
 

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