Joe The Bad's avatar
Joe The Bad joe@nostrcheck.me 8 months ago
On August 15 1971 (the day the dollar was decoupled from gold) gold was $43/oz and federal minimum wage was $1.60/hr. At that time, a 40 hour work week making minimum wage came out to $64 or 1.49oz of gold. Today with gold at $3698.58/oz, to earn 1.49oz of gold ($5510.88) for a 40 hour work week you need to make $92.46/hr. Today a 40 work week at federal minimum wage ($7.25/hr) gets you $290 or .08oz of gold. I’m not a gold bug, I just like to run these numbers sometimes 🤷‍♂️

Replies (5)

BE's avatar
BE 4 months ago
Good observations - making it easy for us to see how the fiat system is screwing us all.
cadayton's avatar
cadayton cadayton@getalby.com 4 months ago
And it wasn't until 1975 when Americans could legally hold gold. I believe it was 1933 when 6102 was put into place. Anyway fiat systems are designed to suck wealth out of those who can least afford it. I'm dum founded by that number of people who just have their head in the sand. Unfortunately, I had my head where the sun don't shine for too long. Its really tough to realize how badly we've been scammed by the centralize banks.
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