Average consumer now carries $6,329 in credit card debt. 'People are stretched,' expert says

[HARK!]

What is important about inflation in the price of silver?

Gold is the primary monetary metal.

Silver is the second.

In general terms, it is not that the value of these metals that increases. It's that the buying power of the fiat currency decreases.

If one compares the historic pricing of gold and oil in fiat US dollars; a inversely proportional trend will appear.

In 1900. a silver dollar would buy you a steak dinner. Today, that same silver dollar will still buy you a steak dinner.

 

[Hans Blaster]

Gold is the primary monetary metal.

Silver is the second.

In general terms, it is not that the value of these metals that increases. It's that the buying power of the fiat currency decreases.

There isn't enough gold on the planet to run the monetary system.

If one compares the historic pricing of gold and oil in fiat US dollars; a inversely proportional trend will appear.

Oil is pretty flat in real dollars with ups and downs.

In 1900. a silver dollar would buy you a steak dinner. Today, that same silver dollar will still buy you a steak dinner.

Not if tendered at the cash register.

 

[HARK!]

There isn't enough gold on the planet to run the monetary system.

Yes there is.

Oil is pretty flat in real dollars with ups and downs.

I can remember when gas at the pump was 25 cents per gallon. I've been paying attention to the rise in price ever since.

I could also buy a loaf of bread for 25 cents back in those days.

I have a good memory.

Not if tendered at the cash register.

..and not if we consider its' numismatic value; but neither are what we are talking about

 

[Hans Blaster]

Yes there is.

I can remember when gas at the pump was 25 cents per gallon. I've been paying attention to the rise in price ever since.

I could also buy a loaf of bread for 25 cents back in those days.

I have a good memory.

Cool. First time I was aware of gas prices it hit the all time high around $1.25/gal in '81 or '82. When I filled up yesterday it was $2.50/gal street price. Not sure what bread costs, haven't bought any this year.

..and not if we consider its' numismatic value; but neither are what we are talking about

Silver coins are still legal tender at face value. I got a $1 silver certificate in change a few years back. Do you think the Treasury will give me a $1 silver coin for that?

 

[HARK!]

I got a $1 silver certificate in change a few years back. Do you think the Treasury will give me a $1 silver coin for that?

The Treasury no longer honors the note. The American people were duped again. At one time there were redeemable gold notes in circulation. Then they started issuing non-redeemable notes side by side with the redeemable notes, creating the illusion that they were of equal value. I' don't accept wooden nickels; but the silver note still has collector value. I would sell it and buy the real deal.

Do you remember when copper pennies used to be made out of copper? Then they started copper plating zinc, to create the illusion that pennies were still made out of copper; while they quietly hoarded the copper to cover their bad corporate dept..

Now they're taking the pennies away from us altogether; because on paper it costs about $4 to make 100 zinc penny forgeries.

Robbed again!