patrick.net

I think the Fed exists first of all to bail out the biggest banks no matter what mistakes they make. The bailouts are done with newly printed cash, so that does indeed cause inflation.

And I'm pretty sure they also tip off their friends to the direction of interest rates, so that a certain class of people can mysteriously always correctly predict the bond market. Nice work if you can get it.

A 1913 silver dollar can still be had for about $25 in current paper dollars. So for the above graph to be correct, the purchasing power of that silver dollar in 1913 must have been considerably above its silver melt value.

Patrick says

A 1913 silver dollar can still be had for about $25 in current paper dollars. So for the above graph to be correct, the purchasing power of that silver dollar in 1913 must have been considerably above its silver melt value.

"To create our visualization, we used data from the Bureau of Labor Statistics’ CPI Inflation Calculator."
https://howmuch.net/articles/rise-and-fall-dollar

I've never known the government to exaggerate inflation, at least not while under a central bank. Also, a silver dollar traditionally contains approx 24grams of silver, or an ounce and a half 2/3ds of an ounce. Coupled with the fact that spot hasn't been accurate for at least six months, you'd be looking at closer to $4020.

The goal of central banks has always been world domination, so say the banks.

This place has the melt value of a Morgan dollar at $18.32:

https://www.ngccoin.com/price-guide/series-detail.aspx?MVDetailID=13&Series=Morgan-Dollar

Composition: 90% Silver
Weight: 26.7300g

Don't let the Federal Reserve ruin your financial life.

The purpose of the Federal Reserve was to combat inflation.

The 1929 stock market crash didn't cause the Depression; bank failures did.

Banks also lost depositors' money, wiping out people who never owned a stock.

Although they suck, without banks the economy moves very slowly.

In 1913, the silver metal value in the dollar coin was indeed much lower than its purchasing power. That's why they kept minting the silver coin till 1964, after which they changed silver content in the coin from 90% to 75% (in the half-dollar coin only; quaters and dimes became coppper-nickel clads after 1964) due to metal content in the 90% coin exceeding purchasing power.

Besides bailing out banks, a major functional purpose for central bank in society is financing war, especially overseas wars of aggression. It was not a co-incidence that the FED was founded at the end of 1913, just before the 1914 start of WWI.

Patrick says

This place has the melt value of a Morgan dollar at $18.32:

https://www.ngccoin.com/price-guide/series-detail.aspx?MVDetailID=13&Series=Morgan-Dollar

Composition: 90% Silver
Weight: 26.7300g

The silver content is still 2/3ds of an ounce and a half. Spot is around $23.50/oz. Add fees and real physical pricing you're looking at closer to $270 I'd wager.

Hey, if you can get the price you're quoting, you got a deal. But I'd weigh that coin very carefully before you buy...

clambo says

The 1929 stock market crash didn't cause the Depression; bank failures did.

Actually it was government regulation. The crash just washed out all the speculators, most people were fine. But similar to today, that didn't satisfy the government, who engaged in endless socialism until everyone was buried.

NuttBoxer says

Also, a silver dollar traditionally contains approx 24grams of silver, or an ounce and a half

I can see you never bought pot on the black market.

Troy or avoirdupois? either way there is less than an ounce of silver in a Morgan dollar.

It seems nobody cares about numismatic value anymore so when you buy an old silver dollar you're pretty much paying for the silver. You can get a worn Morgan for around $32 or a generic silver ounce for around $30.

clambo says

Banks also lost depositors' money, wiping out people who never owned a stock.

Any other business run like a Bank would be a criminal organization due to the Fraud.

Imagine claiming $1M worth of customer deposits, but claiming you had $10M in assets. That's what banks do.

Silver and Gold won't fix this problem, since de facto in a precious metals system, banks and rich hoard real metal, everybody else gets paper.

There was a total lack of government regulation regarding stock buying, margin and banks speculating in stocks with depositors' money, with no FDIC insurance so innocent people were also wiped out after 1929.

Onvacation says

I can see you never bought pot on the black market.

Sold it mostly, and remembered my measurements as soon as you said that. Corrected my erroneous statements. Still don't believe the federal government is over-estimating inflation by any means, as The Creature works so hard to obfuscate it's greatest means on destruction, inflation.

NuttBoxer says

Still don't believe the federal government is over-estimating inflation by any means

The price of everything is up. A meal I used to pay $20 is now close to $30. Gas!!!

I never really thought of it before, but when you buy a silver eagle are you getting a troy ounce or avoirdupois?

Too lazy to get my scale out.

Central banking in hand with government deficit spending is responsible for the theft of untold amounts of the people's labor. It really is on a scale few can comprehend.

This theft is what's fuelling the globalist's efforts. They use this nearly unlimited stream of money to buy off everyone they can. Politicians, health ministers, companies, unions, you name it. It's how they've managed to get so far with this covid scam.

Karloff says

It's how they've managed to get so far with this covid scam.

The global level of corruption and collaboration with the jab is shocking.

I keep hoping some little country like Iceland will be the first to stand up and say "This is all bullshit for the profits of Pfizer."

At least the Mexican President is just about saying that:

https://patrick.net/post/1340809/2021-08-23-mexico-won-t-be-hostage-to-big-pharma

Mexico's stance is around injecting kids. In other respects, they're stricter than the US. At least if Tijuana is any indicator of how the rest of the country is working.

HunterTits says

Just the French and some others were demanding gold when they balanced their net account with the US. Balancing of accounts were required in the Bretton Woods system to avoid nations wracking up deficits and surpluses lasting more than a year.

I'm guessing you think there's more than a dumbwaiters worth of gold still in Fort Knox then?

I'm sorry, treasury sales take place all the time, but not to remove dollars, to add them. If the Fed even dreamed of deflation, they would destroy the economy in a heartbeat, as the extent of leverage is gastronomical. So they continue to print, but that still takes us to the same end, just slower, and more painful, and with much higher losses.

My wife's car has been at the shop for a day and a half because they can't get the Honda oil needed to fill it up. You seem to think the Fed was designed to help, I invite you to read Griffin, and see the Nixon men were doing exactly what they were supposed to. The Creature only exists to destroy, NEVER to stabilize, NEVER to aid, NEVER to prosper anyone outside the cabal.