I wonder how many Trump supporters watch without realizing that Mr. Potter in all his greed and lack of empathy is Trump (though in fairness, arguably a better businessman than Donnie). I'm going to wager all.
There was a post a few days past about someone watching the movie with his dad and his dad just says he'd shoot Mr. Potter.
OP then asked his dad, "so you're okay with shooting the CEO now?"
Dad shut up about it after that.
Conservatives like to believe that they are the heroes of the story. Where they are the paragons of virtue but in reality, they want to control and oppress people. That's it.
I remember years ago someone ran down what Potter's horrible, evil, awful, inhuman, immoral, interest rate was on his loans...
2%.
They watch it and think how nice it is that angels exist.
5 grand back then was like 80k today i think
WAAAAAY more 5k back then was buy a house money. 5k back in the setting of the movie 1912-1934ish? Was ≈260 ounces of gold. So today that is $680,000 today which is definitely enough to afford a nice house.
We are given inflstiin stats using consumer price index as the main metric of measure but CPI is beyond inadequate primarily because it does not account for the devaluation of a currency due to the increase in circulating currency supply.
For 172 years the price of gold stayed constant only changing when fdr made it illegal to hoard more than a certain amount of gold, bought back all the gold, built fort knox to store it in and then after they were certain they had a majority of the support in the usa they revalued it from $19 to $35 so for the first 172 years after the Usa implemented a standard currency (the us dollar) gold only fluctuated ≈80% but since nixon ended the gold standard in 1971 the price of gold has ballooned 7500% to $2650 last time i checked. And this all corresponded perfectly with the amount of money printed into supply. After nixon pulled out of the bretton woods agreement in 8 years the price of gold had increased 2000% just under $800 and within a year of that spike the us printed the first trillion into circulation now we print one trillion every 3-4 months.
I could elaborate on why the value of money is intrinsically tied to the price of gold but it is an argument i make regularly and ill wait till the choir of people who trust the criminals of wall street who's business model is committing fraud, exploiting the poor and robbing the working class chimes in
But $5000 today is less than 1% of the gold $5000 was 90 years ago but despite that its still an impossible amount for most people to accumulate.
CPI isn't perfect, but it's more indicative of real world concerns of average person. I don't care about gold, but I do care about goods accounted for in the CPI.
Just because a commodity is roughly fixed in amount and availability not as easily manipulated by making up numbers does not mean it has some magical absolute "value". Value is always subjective and heavily based on context.
Offer me a bar of gold for everything in my pantry today? Sure thing, I know I can get a lot more money and refill my pantry. If you made that same offer, but people are disinterested in gold? No, because ultimately that bar is useless to me without the wider context of people willing to part with significant resources in exchange for the gold.
Modern monetary policy is as much about psychology as it is about math. Gaming the system so that, largely, people have a number that behaves predictably to general goods and services over time. In the great depression, the relative value of gold in real terms fluctuated wildly, and society exploded in no small part due to people's feelings relative to the numbers despite the fundamentals not changing much between "things are going great" and "everything is ruined".
This is a common talking point, but much of what you've said isn't true. We did not have enough gold to cover every dollar the whole time under Bretton Woods, about 65% at the end of WW2, and it wasn't out of the blue that Nixon withdrew from the agreement.
If we had tried to maintain that system, we would have either lost all our gold due to countries taking advantage of the price difference between the peg and gold markets worldwide, or we would have had to restrict dollar supply to the point we would no longer be the reserve currency of the world, neither of which were in our country's interest.
https://en.m.wikipedia.org/wiki/Bretton_Woods_system#Late_application
I'm lucky to be able to save £100 a month, mainly because I sold my car. Wait for it, because of a new train station opening within walking distance. Just having a month's wages put aside feels great, small steps.
5k in the bank?
Some day...
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