Bob Estes wrote:
Jerry Feldman wrote:
On Mon, 12 May 2008 04:10:50 -0700
Bob Estes <[EMAIL PROTECTED]> wrote:
This is an excellent example of how our current monetary system is
devaluing our money.
[mucho snippo]
You are absolutely right, and the value of our currency has been in a
downward spiral ever since.
Actually inflation, and the consequential devaluation of
currency, fiat or hard metal, has been around for hundreds of
years, if not thousands. Think of the old song "Jolly, Jolly Six
Pence." (Not sure if that is the title as known by most.) There
is the line. "Six pence to lend, six pence to spend, and six
pence to send home to my wife, poor wife." So 18 pence was a
sailor's wages for some, undefined in the song, period of time at
one point in time.
Look at the the other historical references and coin sizes that
have gone by the wayside, 'ha penny, etc.
Now look at inflation. I got a lesson in that the other day at
the dentist. I'm having to have a crown replaced and when the
original was done, in 1985, it cost ~$325 according to the
dentist's records. The replacement will cost ~$980, or about 3
times as much. At the time, again, according to the dentist's
records gold was about $300/oz. Today the price of gold is about
$900/oz.
Truly odd how gold exchanges to fiat money at about the same rate
as inflation in dentistry, indeed very, very odd. Do you think
that there could be a conspiracy of dentists to keep the price of
gold stable because they need it for crowns? ;->
Best,
Allen
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