ECONOMICS: … as a nation we have been collectively robbed by both inflation and currency debasement

Monday, March 24, 2025

https://survivalblog.com/2025/03/17/preparedness-notes-monday-march-17-2025/

Preparedness Notes for Monday — March 17, 2025

James Wesley Rawles 

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Here is another example: An Old Timer Schrade Two Blade Folding Knife, priced at $110, plus $15 postage. (Total of $125, divided by 24.7 = $5.06. When rounded down, that would be just $5.00 face value in 90% silver coins. So mailing us 20 silver quarters would buy you that knife.)

As you can see from that example, as a nation we have been collectively robbed by both inflation and currency debasement. The real tangible VALUE of a knife or a silver coin has not changed much since 1964. It is the overproduced Federal Reserve Note “dollars” (both paper and digital) that gradually have had less and less purchasing power.

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Yeah, yeah, I rant on this all the time.  

Fiat (i.e., it has value because the Gooferment says so) has declined in value somewhere around 95%.  I’ve posted about: penny candy, nickel cigars, dime store novels, and 30¢ a gallon gas. Also, the minimum wage of five silver quarters per hour would be worth about $25 per hour today. 

Funny how that works but yet “We, The Sheeple” refuse to see Gooferment politicians and bureaucrats as the parasites and thieves that they are.

Imagine what the Dead Old White Guys would think of all this? 

#endthefed would be a policy not a hashtag.

Ron Paul was, and is, right.  When you cut out a cancer, what do you replace it with? Nothing!

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MONEY: Bitcoin “Not Backed”; so what “backs” FRNs?

Thursday, December 7, 2017

https://fee.org/articles/fed-official-decries-bitcoin-as-not-backed/

Friday, December 01, 2017

Fed Official Decries Bitcoin as “Not Backed”
Bitcoin is backed by the use value of the distributed ledger in the underlying technology of the Blockchain.
by  Jeffrey A. Tucker

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Randal K. Quarles, a Trump administration appointee to the Federal Reserve Board of Governors and Vice Chair for bank supervision, has given a lengthy speech (“Thoughts on Prudent Innovation in the Payment System”) that directly targets Bitcoin as a danger to the monetary and financial system.

To reiterate, an official speaking for the nation’s central bank that manages the global reserve currency – the institution that has long bragged about its power to bail out the entire world with the magic powers of the alchemist – has put down Bitcoin for being untrustworthy, unbacked, and unsound.

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Will someone please tell me what is backing up the current Federal Reserve Notes that pass for “money” today?

I can’t believe the hubris of some people.

The Federal Reserve Note, since 1970, has lost 99.99% of its value. There maybe even some 9’s at the end of that percentage.

I’m just shaking me head at this “attack” on bitcoin.

I’m speechless.

You should be too.

Save your nickels! It’s only thing worth anything — it still has some silver content. For now!

Argh!

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