How The Banking System Works.
- Banks: Trust us with your money
- People: What if you lose our money, who will insure our money?
- Banks: The government
- People: You mean the government that's funded with our money?
- Banks: Yes.
- People: So we are giving you our money and if you lose it we will be paid back with money that the government taxes from us?
- Banks: Yes.
- People: Where will that new money come from if you lost it in the first place?
- Banks: We'll lend it to you.
- People: How does that work?
- Banks: It's complex. No need to worry, the system can't fail because if it did, everything would come to an end.
- People: ...
- Banks: ...
- People: ...
- Banks: Trust us with your money.
The minimum wage in 1955 was $1.00/hr.
That would be four quarters, back when quarters were made with silver. The melt value of those four quarters (in today’s money) is about $20.gee I wish this had a source..
you can literally google every aspect of this post.
1995 minimum wage, silver content in US quarters pre-1964, spot price of silver
These are not hard pieces of information to find. Not everything needs to be injected directly into your thick skull from somebody else in order for you to know about it.
I mean honestly. Are you that fucking dumb?
I hate lazy people who want a source for everything as if Google doesn’t exist on your computer, phone, playstation and tv.
All of the info in the world, right there at your fingertips and you are too lazy to search or to comfortable with your skepticism that you refuse to do so.
Someone yesterday asked me “If IP law hurts individuals, why isn’t there anything written about it?” I wanted to cut my neck with a pencil, pull my brains out with a toothpick and jam them down my throat so I could suffocate to death.
Minimum Wage in 1955 to 1956: $1/hour (via Dept of Labor)
Price of an ounce of Silver in 1955: $0.95/ounce (via The Silver Institute)
What $1 in 1955 is worth in 2013 dollars: $8.23 (via Bureau of Labor Statistics)
Price of an ounce of Silver in 2013 (3/28/13): $28.82 (via MonEx)
The US dollar literally lost $20.59 or 71.4% of it’s value since 1955 due to inflation.
Next time don’t be so damn lazy.
openourminds-deactivated2013022 asked: simply the point is that this whole fucked up system could be solved by our govt. issuing it's own currency. paying off the fiat debt with fiat currency that the banks didn't EARN - they simply loaned profit into existence with no labor, OFF the backs of real laborers - get rid of the the 2 houses and instill a democracy - but that's not the reality. so we must loosen the FED grip first. how? STOP BORROWING. best way? pay the debt back? how? NOT by austerity. lol. look at the EU.
You are a perfect example of why I barely answer asks on here.
The notion of THE Coin is not the federal government minting and using it’s own sovereign currency. The whole idea behind it is to create a fiat asset and use that to get more of the Federal Reserve’s fiat currency (the one thing you don’t want to happen).
THE Coin would not be used to pay off debt to the banks, which you seem to be targeting. THE Coin would essentially be used to pay off debts the government has to other people, like the military, post office, social security and medicare.
We don’t even try to pay off our debt. I’m not even sure we are paying off any principle at the moment. I think we barely pay the interest like a broke college student paying minimum payments.
As for the rest of your ideas, you want to dump the House of Reps and the Senate? Oh god. As if we don’t already have a dictatorship… Besides, America is NOT a democracy, it is a Democratic Republic. It was founded as a Republic, but that has slowly changed.
Stop borrowing? Yes, I agree.
Pay back the debt? I disagree. Pay back other sovereign nations? Sure. Pay back the people (social security and private bond/bill holders)? Sure. But I don’t think we should pay back any of the debt obligations to the banks/Fed. Fuck ‘em. Let’s take a page out of the Icelandic Revolution and tell the banks to scram.