I've been pointing this out for years now. My grandpa who I worked for right after high school would tell me he "only" got paid a dollar an hour when doing house construction in 1930. But it was in silver certificates that could be exchanged for a silver dollar. Sure, so obviously I should be happy with my five dollars an hour of fiat federal reserve notes worth five cents each of his silver dollar.
I've been pointing this out for years now. My grandpa who I worked for right after high school would tell me he "only" got paid a dollar an hour when doing house construction in 1930. But it was in silver certificates that could be exchanged for a silver dollar. Sure, so obviously I should be happy with my five dollars an hour of fiat federal reserve notes worth five cents each of his silver dollar.
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