Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By George Reisman
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

A 2024 Mid-Priced Automobile Sells for the Same $300 Price Paid for a Model T Ford in 1924

% of readers think this story is Fact. Add your two cents.


It really does, if you can pay for it in Gold dollars. Based on the present price of gold bullion, of approximately $2,000 per ounce, a twenty-dollar US gold coin, which contains not quite an ounce of gold, sells for just about $2,000. Put together 15 of these $20 gold coins and you have 300 gold dollars, which represents $30,000 paper dollars, which is the price of a new mid-range automobile.

Who says prices have gone up? The truth is that the price of our paper money has plunged. When we had a gold standard, the price of a paper dollar was a gold dollar. Today, the price of a paper dollar is just one gold cent. So it takes correspondingly more of this cheap money to buy anything.

Here’s how to stop this process. Just repeal whatever laws are in the way of merchants accepting gold and silver coins at their actual market bullion value, not their face value. Consider, for example, that the price of silver is now about $24 per ounce. An old pre-1964 dime contains .0715 ounces of silver, a quarter contains 2.5 times as much, and a half dollar contains 5 times as much. (A silver dollar contains more than 10 times as much.) The silver content of a dime, times its current price per ounce, gives it a market value on the order of $1.70, which means, for example, that a $10 meal in a fast-food restaurant costs less than 60 cents in silver coin.

If precious-metal coins could be used at their market value, Gresham’s so-called “Law” that “bad money drives out good money,” would be totally reversed. Good money, i.e., gold and silver, would drive out bad money, i.e., irredeemable paper money. People would see every day, when they went shopping, that prices were rising only in paper money, not in the precious-metal money (or paper money redeemable on demand in precious metal). They would turn against the paper, unless and until they could have confidence that it could easily be redeemed for precious metal.

For further discussion of gold versus inflation see Chapter 19 of my book Capitalism: A Treatise on Economics, whose title is those very words. My book can is available at Amazon.com, at http://amazon.com/author/george-reisman


Source: http://georgereismansblog.blogspot.com/2023/12/a-2024-mid-priced-automobile-sells-for.html


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.


LION'S MANE PRODUCT


Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules


Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.



Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.


Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.