Originally Posted by antelope_sniper
Originally Posted by TF49


If you use the price deflator, between 1971 and 2011 the dollar lost 77.5% of it's value.
It would take $4.44 in 2011 to buy the same goods and services you could buy in 1971. However if we extend you example and go back another 40 years, the would take $2.79 1971 dollars to purchase the same good and services as you could in 1931. During this 40 year period, the dollar lost 64% of it's value, much most of which we were on your coveted Gold Standard.


AS,

There you go again, majoring in minors. Also, you again are trying to put words in my mouth. How do you conclude that I "covet ... a Gold Standard?"

TF


You like to talk about the devaluation of fiat currencies, but ignore how asset back currencies can still devalue, as evidenced in my example.

So, how severe is the collapse going to be?



AS,

I do like to talk about about fiat currency devaluation as that is a "today" issue for the US. Folks will be better equipped to deal with the financial issues of the day if they understand what is going on.

btw, why would one want to talk about "asset backed currencies?" Is that relevant to today or not?

I already commented on the possible outcomes of financial calamity.

Why do you think I "covet" a Gold Standard?

TF


The tax collector said: “Lord Jesus, have mercy on me, a sinner.” Jesus said he went home “justified.”