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1958 cost of living

cost of living equivalenciesRunning around Facebook is a poster showing the cost of living in 1958.

It is, of course, priced in 1958 dollars which were still directly exchangeable on demand for silver dollars, halves, quarters and dimes.

The poster is horribly deceptive. The Federal Reserve had already printed far more paper dollars than there was silver to back them, but few people noticed or cared. Paper was lighter, more convenient and had approximately the same value.

Keep in mind, that every new dollar issued by the Federal Reserve came into the economy through the nine member banks who owned the Federal Reserve. They were GIVEN the money to loan out and collect interest, principle and assets in exchange for passing out this new paper product.

Greed is not self-limiting, so they kept it up until they could no longer afford to exchange silver for paper promises. Their response? Simply stop being willing to exchange it.

That eventually inspired people to want silver instead of their paper. Bankster response? Make the coins out of cheap tin and nickel.

You can still buy silver coins, even silver dollars issued by the U.S. Mint. But you currently have to exchange twenty two “one-dollar” Federal Reserve Notes (FRNs) for each silver dollar.

Very significantly, the price of silver is determined by the ComEx (Commodity Exchange market). There, well over 90% of the trades are made electronically with no metal or paper changing hands.

The member banks of the Federal Reserve,
cost of living 1958who would not survive the masses knowing the true scope of their theft, trade paper promises of silver amongst themselves to keep the price of silver (and gold) at a small fraction of its actual market value.

Thus, while my chart uses the current going price for a silver dollar, the market price according to those who understand the precious metal market would be at least $200 per ounce; perhaps over $1,000 per ounce. Thus, my chart understates the advantages of silver by a factor of 10 or more – perhaps a whole lot more.

As you can see by comparing the image that inspired my analysis to my chart, the implication that some mysterious force made prices go up is bogus. Austrian Economics and non-mainstream politics tell us that the money was stolen and exactly who dunnit.