Great write-up. Same goes in 1914 when Ford upped the pay to $5/day for factory workers. Imagine earning an ounce of gold every 4 days. At today’s prices, $3400+/- each week.
Something has gone terribly wrong.
I bet if I calculated it out, I have lost 50% of my pay since 2000 in inflation adjusted terms. I’m in engineering and my pay really hasn’t increased much in that time so there is that too.
Now I feel lucky being able to buy a silver eagle each week.
Fascinating! I’m Harrison, an ex fine dining industry line cook. My stack "The Secret Ingredient" adapts hit restaurant recipes (mostly NYC and L.A.) for easy home cooking.
The American middle class, which is the 60% of Americans in the middle quintiles, earned about 60% of annual income per year up until the 1960s when it started changing. It is now about 26%. We are losing our middle class and it’s ironic that Trump is negotiating our shopping ability as part of his tariff deal making. Who’s going to buy since we keep whittling away at the middle class?
Also ironic, if we add a one percent wealth tax to the top 5% earners in any year, we will eliminate the deficit and stabilize government spending for Social Security, Medicaid, Medicare, and other programs. If it were just 2%, we could begin rebuilding the middle class and paying down the debt. If we are truly good capitalists who understand that the nature of capitalism is to concentrate wealth, this economic rebalancing would make sense to us, and we would act on it.
Hi Appreciate your article. I am not a specialist of currency’s value or a financial guy, but the above article in my opinion would provide more value, if the other side of a man’s budget namely the living costs would be included: E.g. transportation. A Ford Model T was worth 13 oz of gold in 1908. Just a thought.
Wonder what a comparison with say, the building of the Boulder Dam, the Alaska oil pipeline. Or the ‘wall’ along the southern border would show? Some homework for you? All the best.
I caught most of a pop-up conversation between Alex Krainer & Efrat Fenigson this morning.
Intersect here is that machinations, including central banks fiat diktats, & everything else that has not been new under the sun for a very long time, were going full tilt boogie back in the good old hard money days, too.
Krainer pointed that out. And then poured some sweetened condensed milk … lots of optimismesmerists in this space.
Hard money does not do much of anything about soft people. Including relatively soft people.
Clay is clay & even if it could be alchemised golden, & even if that trick could be done inexpensively, hard money now/then soft/common as beach sand would still be just as littered with claymation claymores go boom & quiet little tucked aways in Uruguays or other long, long aways would be 24k’s.
At a macro level, there's a theft going on. I suspect the heist is not studied in university economics courses. Instead of dollars as a metric, how about a ratio of dollars leaving the economy vs. dollars going in?
I repeat this example from Canada, since it gives a giant clue. In year 2000, Statistics Canada reported that the federal government had paid out $16 for every $1 it had borrowed since 1867, when Canada was born. And yet a large debt still remained. Most countries experience these ratios of money leaving the economy, compared to what is left behind.
1-The vast majority of asset wealth in the USA is owned by less than 10% of the population I believe.
2-The debasement of the currency in dollar terms has benefited the paper wealth of the asset owners and crushed the rest.
3- Using historical data from your examples in 1910 with Gold at $20 / ounce, and calculating to today's spot price of gold which is approximately $3,300 / ounce, leads me logically to interpret both paper assets and the physical assets purchased with paper assets are in fact overpriced by at least 165X.
Let that sink in folks when you look at the price of houses, cars, etc.
It's either that or think of your level of financial comfort if you were paid equivalent wages today in gold.
This should be a wake up call to everyone why the correction is coming and who should benefit from it. If the wealthy take it all in this engineered crash, don't be surprised if you see guillotines and gallows being set up in the village square as the peasants don't have anymore that can be stolen from them. They therefore have nothing left to lose.
For every broken Munny repaired by the love of a good woman there are 9.6 Humpty Dumpty’s who whether whole or post wall-tumble shattered will continue to insist that words mean whatever would-be masters say they mean.
That is the doom-loop that keeps the mood-pool shallow & more urine, & other waste, than water.
“When I use a word,” Humpty Dumpty said in rather a scornful tone, “it means just what I choose it to mean—neither more nor less.” “The question is,” said Alice, “whether you can make words mean so many different things.” “The question is,” said Humpty Dumpty, “which is to be master—that’s all.”
Lewis Carroll, Through the Looking-Glass
Change? Guffaw! Greatest trick the devil ever pulled … chameleons “change” ghillie-to-suit the terroir the better to taste the place as they set about laying consumptive waste to it.
Terrain theory is much tighter to the bone than germ theory.
The Bechamp-ionship was stole, is stolen, as usual, by the fix-is-in Pasteur-ization terrain.
Thomas Edison was no Bechamp.
And civil engineers, working for “progress” (top line, never ever net-net bottom line) were as lightly sprinkle-distributed in 1910 as Black Rock blackguards-progressives are today.
((Manhattan Project: give them beads & strong whisky for … everything.))
Every too oft emphasized silver lining - such as the swirling condensate cloud surrounding the Panama Canal - is always, or almost so, mercury amalgam fillings in the teeth of cannibals who will say/do anything to fulfill pathological appetites.
Sound Munny is, was, will always be vanishingly rare.
Which leads some to benzedrine & hallucinations of something better:
Another great post. Even the most ardent gold denier can’t explain this away. When you think about it, all of the productivity gains through technology should lead to deflation (yippee!). But the wealth extractors cannot continue the deception during deflation. Ergo, inflation must be maintained.
Indeed, Brother Matt! It is so very hard for a majority of people to see through this lens of real money vs fiat currency. Currency and money are very different. Keep beating your drum please.
And yet there are certain areas within the economy, where productivity gains are allowed and competition is encouraged and regulations are minimal, where deflation does occur. Laser eye surgery, computers, big screen tvs...
Good point Allen. There are numerous examples where the deflation effect cannot be restrained. My point is that a system dependent upon growing debt is desperate to avoid deflation at a systemic level, regardless of any benefits to the population.
Great write-up. Same goes in 1914 when Ford upped the pay to $5/day for factory workers. Imagine earning an ounce of gold every 4 days. At today’s prices, $3400+/- each week.
Something has gone terribly wrong.
I bet if I calculated it out, I have lost 50% of my pay since 2000 in inflation adjusted terms. I’m in engineering and my pay really hasn’t increased much in that time so there is that too.
Now I feel lucky being able to buy a silver eagle each week.
I'm grateful for all your support
Reach Phillip Klafman for a great
life-charnging business classes
This is he's Watsap📥±𝟭 𝟮𝟭𝟯𝟮𝟰𝟵𝟭𝟮𝟳𝟮
Go to him immediately.
I'm doing this because I trust him💯 and I also endow with his company.
If you're looking for financial stability or want to add your source of incom this will help you. It's very lucrative
Fascinating! I’m Harrison, an ex fine dining industry line cook. My stack "The Secret Ingredient" adapts hit restaurant recipes (mostly NYC and L.A.) for easy home cooking.
check us out:
https://thesecretingredient.substack.com
I'm grateful for all your support
Reach Phillip Klafman for a great
life-charnging business classes
This is he's Watsap📥±𝟭 𝟮𝟭𝟯𝟮𝟰𝟵𝟭𝟮𝟳𝟮
Go to him immediately.
I'm doing this because I trust him💯 and I also endow with his company.
If you're looking for financial stability or want to add your source of incom this will help you. It's very lucrative
The American middle class, which is the 60% of Americans in the middle quintiles, earned about 60% of annual income per year up until the 1960s when it started changing. It is now about 26%. We are losing our middle class and it’s ironic that Trump is negotiating our shopping ability as part of his tariff deal making. Who’s going to buy since we keep whittling away at the middle class?
Also ironic, if we add a one percent wealth tax to the top 5% earners in any year, we will eliminate the deficit and stabilize government spending for Social Security, Medicaid, Medicare, and other programs. If it were just 2%, we could begin rebuilding the middle class and paying down the debt. If we are truly good capitalists who understand that the nature of capitalism is to concentrate wealth, this economic rebalancing would make sense to us, and we would act on it.
I'm grateful for all your support
Reach Phillip Klafman for a great
life-charnging business classes
This is he's Watsap📥±𝟭 𝟮𝟭𝟯𝟮𝟰𝟵𝟭𝟮𝟳𝟮
Go to him immediately.
I'm doing this because I trust him💯 and I also endow with his company.
If you're looking for financial stability or want to add your source of incom this will help you. It's very lucrative
Nice write up
I'm grateful for all your support
Reach Phillip Klafman for a great
life-charnging business classes
This is he's Watsap📥±𝟭 𝟮𝟭𝟯𝟮𝟰𝟵𝟭𝟮𝟳𝟮
Go to him immediately.
I'm doing this because I trust him💯 and I also endow with his company.
If you're looking for financial stability or want to add your source of incom this will help you. It's very lucrative
Great article, thanks
I'm grateful for all your support
Reach Phillip Klafman for a great
life-charnging business classes
This is he's Watsap📥±𝟭 𝟮𝟭𝟯𝟮𝟰𝟵𝟭𝟮𝟳𝟮
Go to him immediately.
I'm doing this because I trust him💯 and I also endow with his company.
If you're looking for financial stability or want to add your source of incom this will help you. It's very lucrative
Hi Appreciate your article. I am not a specialist of currency’s value or a financial guy, but the above article in my opinion would provide more value, if the other side of a man’s budget namely the living costs would be included: E.g. transportation. A Ford Model T was worth 13 oz of gold in 1908. Just a thought.
I'm grateful for all your support
Reach Phillip Klafman for a great
life-charnging business classes
This is he's Watsap📥±𝟭 𝟮𝟭𝟯𝟮𝟰𝟵𝟭𝟮𝟳𝟮
Go to him immediately.
I'm doing this because I trust him💯 and I also endow with his company.
If you're looking for financial stability or want to add your source of incom this will help you. It's very lucrative
Excellent analysis. I shared it .
I'm grateful for all your support
Reach Phillip Klafman for a great
life-charnging business classes
This is he's Watsap📥±𝟭 𝟮𝟭𝟯𝟮𝟰𝟵𝟭𝟮𝟳𝟮
Go to him immediately.
I'm doing this because I trust him💯 and I also endow with his company.
If you're looking for financial stability or want to add your source of incom this will help you. It's very lucrative
Wow. SHOCKING!!! Thanks for the interesting read...
I'm grateful for all your support
Reach Phillip Klafman for a great
life-charnging business classes
This is he's Watsap📥±𝟭 𝟮𝟭𝟯𝟮𝟰𝟵𝟭𝟮𝟳𝟮
Go to him immediately.
I'm doing this because I trust him💯 and I also endow with his company.
If you're looking for financial stability or want to add your source of incom this will help you. It's very lucrative
Matt, Great read, thanks.
Wonder what a comparison with say, the building of the Boulder Dam, the Alaska oil pipeline. Or the ‘wall’ along the southern border would show? Some homework for you? All the best.
I'm grateful for all your support
Reach Phillip Klafman for a great
life-charnging business classes
This is he's Watsap📥±𝟭 𝟮𝟭𝟯𝟮𝟰𝟵𝟭𝟮𝟳𝟮
Go to him immediately.
I'm doing this because I trust him💯 and I also endow with his company.
If you're looking for financial stability or want to add your source of incom this will help you. It's very lucrative
Well written, Matt. It was a very sobering read and really put into perspective how little people make these days in real terms.
I'm grateful for all your support
Reach Phillip Klafman for a great
life-charnging business classes
This is he's Watsap📥±𝟭 𝟮𝟭𝟯𝟮𝟰𝟵𝟭𝟮𝟳𝟮
Go to him immediately.
I'm doing this because I trust him💯 and I also endow with his company.
If you're looking for financial stability or want to add your source of incom this will help you. It's very lucrative
I agree with Brian. Thanks Matt
I'm grateful for all your support
Reach Phillip Klafman for a great
life-charnging business classes
This is he's Watsap📥±𝟭 𝟮𝟭𝟯𝟮𝟰𝟵𝟭𝟮𝟳𝟮
Go to him immediately.
I'm doing this because I trust him💯 and I also endow with his company.
If you're looking for financial stability or want to add your source of incom this will help you. It's very lucrative
I caught most of a pop-up conversation between Alex Krainer & Efrat Fenigson this morning.
Intersect here is that machinations, including central banks fiat diktats, & everything else that has not been new under the sun for a very long time, were going full tilt boogie back in the good old hard money days, too.
Krainer pointed that out. And then poured some sweetened condensed milk … lots of optimismesmerists in this space.
Hard money does not do much of anything about soft people. Including relatively soft people.
Clay is clay & even if it could be alchemised golden, & even if that trick could be done inexpensively, hard money now/then soft/common as beach sand would still be just as littered with claymation claymores go boom & quiet little tucked aways in Uruguays or other long, long aways would be 24k’s.
https://www.youtube.com/watch?v=f46JMzVzSB4
https://www.efrat.blog/
https://en.wikipedia.org/wiki/Franz_Mesmer
Well-named Cashill vs Clay Δ to Ali:
https://www.youtube.com/watch?v=gIZjbWbssWI
Delta Dawn, what's that flower you have on
Could it be a faded rose from days gone by?
And did I hear you say, he was a-meeting you here today
To take you to his mansion in the sky?
https://www.youtube.com/watch?v=n5SOZ_6sHFY
Gold being hard money, can be rented out at interest, which I think you allude to.
At a macro level, there's a theft going on. I suspect the heist is not studied in university economics courses. Instead of dollars as a metric, how about a ratio of dollars leaving the economy vs. dollars going in?
I repeat this example from Canada, since it gives a giant clue. In year 2000, Statistics Canada reported that the federal government had paid out $16 for every $1 it had borrowed since 1867, when Canada was born. And yet a large debt still remained. Most countries experience these ratios of money leaving the economy, compared to what is left behind.
I'm grateful for all your support
Reach Phillip Klafman for a great
life-charnging business classes
This is he's Watsap📥±𝟭 𝟮𝟭𝟯𝟮𝟰𝟵𝟭𝟮𝟳𝟮
Go to him immediately.
I'm doing this because I trust him💯 and I also endow with his company.
If you're looking for financial stability or want to add your source of incom this will help you. It's very lucrative
Excellent and timely piece Matt.
One thing that is apparent that we do know:
1-The vast majority of asset wealth in the USA is owned by less than 10% of the population I believe.
2-The debasement of the currency in dollar terms has benefited the paper wealth of the asset owners and crushed the rest.
3- Using historical data from your examples in 1910 with Gold at $20 / ounce, and calculating to today's spot price of gold which is approximately $3,300 / ounce, leads me logically to interpret both paper assets and the physical assets purchased with paper assets are in fact overpriced by at least 165X.
Let that sink in folks when you look at the price of houses, cars, etc.
It's either that or think of your level of financial comfort if you were paid equivalent wages today in gold.
This should be a wake up call to everyone why the correction is coming and who should benefit from it. If the wealthy take it all in this engineered crash, don't be surprised if you see guillotines and gallows being set up in the village square as the peasants don't have anymore that can be stolen from them. They therefore have nothing left to lose.
Have a great day everyone!!
I'm grateful for all your support
Reach Phillip Klafman for a great
life-charnging business classes
This is he's Watsap📥±𝟭 𝟮𝟭𝟯𝟮𝟰𝟵𝟭𝟮𝟳𝟮
Go to him immediately.
I'm doing this because I trust him💯 and I also endow with his company.
If you're looking for financial stability or want to add your source of incom this will help you. It's very lucrative
2025 The president of the United States-“ maybe the little girls will have 2 dolls instead of 30”
I'm grateful for all your support
Reach Phillip Klafman for a great
life-charnging business classes
This is he's Watsap📥±𝟭 𝟮𝟭𝟯𝟮𝟰𝟵𝟭𝟮𝟳𝟮
Go to him immediately.
I'm doing this because I trust him💯 and I also endow with his company.
If you're looking for financial stability or want to add your source of incom this will help you. It's very lucrative
For every broken Munny repaired by the love of a good woman there are 9.6 Humpty Dumpty’s who whether whole or post wall-tumble shattered will continue to insist that words mean whatever would-be masters say they mean.
That is the doom-loop that keeps the mood-pool shallow & more urine, & other waste, than water.
https://www.youtube.com/watch?v=GnWalWAmryk
“When I use a word,” Humpty Dumpty said in rather a scornful tone, “it means just what I choose it to mean—neither more nor less.” “The question is,” said Alice, “whether you can make words mean so many different things.” “The question is,” said Humpty Dumpty, “which is to be master—that’s all.”
Lewis Carroll, Through the Looking-Glass
Change? Guffaw! Greatest trick the devil ever pulled … chameleons “change” ghillie-to-suit the terroir the better to taste the place as they set about laying consumptive waste to it.
Terrain theory is much tighter to the bone than germ theory.
The Bechamp-ionship was stole, is stolen, as usual, by the fix-is-in Pasteur-ization terrain.
Thomas Edison was no Bechamp.
And civil engineers, working for “progress” (top line, never ever net-net bottom line) were as lightly sprinkle-distributed in 1910 as Black Rock blackguards-progressives are today.
((Manhattan Project: give them beads & strong whisky for … everything.))
Every too oft emphasized silver lining - such as the swirling condensate cloud surrounding the Panama Canal - is always, or almost so, mercury amalgam fillings in the teeth of cannibals who will say/do anything to fulfill pathological appetites.
Sound Munny is, was, will always be vanishingly rare.
Which leads some to benzedrine & hallucinations of something better:
https://www.youtube.com/watch?v=H8n7mCSLfxQ
https://www.youtube.com/watch?v=cWSJ4_WtCoE
***
From the land of Schwarzenegger & Hitler: Value is subjective.
From Vatican City: Transubstantiation.
We’re all related. Most, but not All, In The Family are relativists.
Most fun cannibal movie:
https://www.youtube.com/watch?v=l7BDiNktrLU
Lew Carroll was one of this valuable neurodiverse’s aliases:
https://www.youtube.com/watch?v=76l88OPEZ6E
I'm grateful for all your support
Reach Phillip Klafman for a great
life-charnging business classes
This is he's Watsap📥±𝟭 𝟮𝟭𝟯𝟮𝟰𝟵𝟭𝟮𝟳𝟮
Go to him immediately.
I'm doing this because I trust him💯 and I also endow with his company.
If you're looking for financial stability or want to add your source of incom this will help you. It's very lucrative
Another great post. Even the most ardent gold denier can’t explain this away. When you think about it, all of the productivity gains through technology should lead to deflation (yippee!). But the wealth extractors cannot continue the deception during deflation. Ergo, inflation must be maintained.
I'm grateful for all your support
Reach Phillip Klafman for a great
life-charnging business classes
This is he's Watsap📥±𝟭 𝟮𝟭𝟯𝟮𝟰𝟵𝟭𝟮𝟳𝟮
Go to him immediately.
I'm doing this because I trust him💯 and I also endow with his company.
If you're looking for financial stability or want to add your source of incom this will help you. It's very lucrative
I believe that Doug and Matt have pointed out that, priced in gold, many things are reflecting deflation.
Deflation not in the monetary sense, but in prices due to productivity. Productivity is all that’s kept us from being impoverished long ago.
But in 1910 they were deep in the 2nd Industrial Revolution - a productivity miracle. And they had real money! That’s why they were so rich.
Indeed, Brother Matt! It is so very hard for a majority of people to see through this lens of real money vs fiat currency. Currency and money are very different. Keep beating your drum please.
And yet there are certain areas within the economy, where productivity gains are allowed and competition is encouraged and regulations are minimal, where deflation does occur. Laser eye surgery, computers, big screen tvs...
I'm grateful for all your support
Reach Phillip Klafman for a great
life-charnging business classes
This is he's Watsap📥±𝟭 𝟮𝟭𝟯𝟮𝟰𝟵𝟭𝟮𝟳𝟮
Go to him immediately.
I'm doing this because I trust him💯 and I also endow with his company.
If you're looking for financial stability or want to add your source of incom this will help you. It's very lucrative
Good point Allen. There are numerous examples where the deflation effect cannot be restrained. My point is that a system dependent upon growing debt is desperate to avoid deflation at a systemic level, regardless of any benefits to the population.