In 1964, minimum-wage was 5 silver quarters per hour.
Today, those 5 quarters are worth….
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Over and over again I find that most people think that the dollars they are holding are the bird in the hand and that the Silver bullion in the display case plus commission are the two birds in the bush. This despite the fact that monetary expansion has devalued their dollars year after year. 99% of the public will be left behind in the next breakout. Too bad for them.
I am not old enough to remember the min wage in 1964. But, my first job was in 1973 and I bused tables in a restaurant for 1.50/hour. I thought that was a lot of money then. I remember Budwieser was 69 cents per sixpack. I remember a job I had in 1978 making 3 dollars per hour. By then the wages did not seem like much because inflation was eating us alive at the time. Things got progressively worse of course. 1.25/hr must have seemed like decent money in 1964.
My 1st job, other than picking beans, strawberries, and other fruit, was moving irrigation pipes on a 120 acre farm in 1965 for $1.10 an hour, 16 hours a day. After a month, I got a raise to a whopping $1.25 an hour! Best of all, I was so exhausted at the end of the day that I could not spend ANY of this loot. Now, that was a savings plan! lol The leg cramps were sure a bitch, though. :-/
I was there for the coinage change over in 1965. In 1964 I and many others went to the bank and got rolls and rolls of the good stuff. My father had us do it. I still hold those rolls. It totals $50 face. Over the years I have accumulated much more, But if only a guy had a do over for 1964.
Even with all the manipulation, 1.25$ PH min. wage in 1964 equals 25$ PH min. wage in todays FRNs! Who is being robbed?
The PTB have mitigated those losses via cheap imports of consumer goods, leaving us with lots of amusing junk but no real money.
Now that the bottom is falling out due to the millions of jobs lost overseas, the plastic junk is becoming less affordable to those trapped in the lower paying jobs, and the damage is becoming apparent. Even dolts are sensing something is wrong..
Was helping my first-grader with her math homework the other day. She is learning how to count by tens. I looked in my pocket change but only found two dimes, so I raided my stack and laid a bunch of pre-1964 Silver Dimes on the table for her to practice counting.
Silver is indeed a versatile metal, I must say!
You don’t have to fix the Money it will take care off it’s self (Gold and Silver). What we need to take care off is the Fiat or Currency. LMAO
What needs to fixed is the “sheeple’s” ability to think! As it stands now, the sheeple have no clue how badly they are being screwed over…all they care about is being able to keep tabs on the Trashdashians, drink their Budweiser, and watch the Super Bowl game with the annual Illuminati ritual half-time show!!! WAKE UP SHEEPLE!!!!!!!
Steve: They will, and when they do, it will be sooooo late. Maybe not too late, but they’ll be kicking themselves all over the place since the silver they seek will be, what, three digits? LMAO!!!!
Stop worrying about the sheeple, guys. They will be fine. We will all need good servants to till our fields, cook our food, keep our haciendas clean, etc. lol
$8 hr is equal to $2 a day…$8 X 8 hrs. is $64. 2 Silver Dollars .999 is $32 X 2. Two Silver Eagles a day. Now for Gas: $32 = 8 gallons @ $4 gallon. In 1970 $25.9 gas per gallon would buy me 4 gallons. 4 gallons then…8 gallons today. The price of gas has…gone DOWN!
Gas may be down but food sure isn’t. We have a food crisis in the beginning stages where the sheeple with ebt cards are going to start to get hungry.
Any food crisis felt here in the US will be minuscule compared to that felt in countries that import almost all of their food. They are gonna be screwed, blued, and tattooed… big-time! When we are uncomfortable, they will be starving. Gold and silver will flow from places that desperately need food to those places that have food. North America is a HUGE breadbasket but we won’t be giving it away anymore.
In 1970 min. wage was around 1.65$ an hour, and gas was around .30 a gallon. One hour of work could buy 5.5 gallons of gas. Min wage today 8$ an hour and gas @ 4$ a gallon, an hour of work will buy 2 gallons of gas. How is gas Cheaper? In 1970 silver was just under 2$ an oz. 1 hour of work = 1 oz of silver. Today @ 8$ an hour min – 4 hours of work = 1 ounce of silver. The price of silver and min wage were close to equal (1 to 1 ratio) until late in the year 2000. In 1900, 12+ hours of work earned 1 silver dime. In 2000, 1 hour of work earned 12+ silver dimes!!! In 2013, 1 hour of work earns 4 silver dimes. We are losing spending power.
“We are losing spending power.”
Only if you have been making minimum wage for the past 40 years. Otherwise, average wages and salaries are a lot higher than minimum wage. Minimum wage has not kept up with inflation, as this discussion shows.
As to gas, it is cheaper today because in 1960 (when silver coins were still money), a gallon of gas cost a quarter or 0.1808 Troy ounce of silver. Today, at $29 an oz., that same 1960 quarter is worth $5.24. With gas at $4 a gallon now, it is cheaper today in silver than it was way back when… we get the same gallon of gas but now have some change coming.
That was an enjoyable walk down the monetary memory lane. A couple of stats out there kind of stand out. One says the average person makes no more today in inflation and tax adjusted wages as they did in 1979. Another one claims 1969. It’s pretty clear that in the last 50 years, the gain in purchasing power, from a one income earner to a two income earner family plus gargantuan debt accumulation does seem say we’ve not made much progress.
No matter how had you try to get rid of personal debt, the national debt is expanding at about $4,000 per person or $16,000 per family of four per year. If you make $50,000 a year, your debt burden is moving much faster than any raise you’ll get. Total share of national debt per family of 4 is about $225,000, plus or minus a bit. I know that all of us living now and the generations in the future will somehow or other end up paying this, either through taxes, hard times or simply never receiving any Social Security or Medicare.
Those transfer payments and others hidden in the mix, will not be paid. As far as the interest in the debt, send the bill to China or England.
Plus at that time, the majority of the people didn’t complained about not gaining enough dollars to buy stuffs that they need but today, it’s the opposite. In 1964, I could have bought a gallon of gas for 25 cents which means with a 1964 quarter. Today with the same quarter, I can buy a little bit more than a gallon of gas. So in terms of silver, there is a deflation going on and in terms of fiat currencies, there is inflation going on.