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Inflation, Monetary Debasement, and Minimum Wage

Daily XRP News

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11 Comments

  1. Sam, how would one guage how much gold and silver to hand over for commodities if money was no longer worth anything? The problem is people have been groomed in this devaluating fiat currency. Pretty crook stuff!

  2. Hey Sam… what would be important to point out as well would be what a Dollar is actually… a unit of measure.

    There is no such thing as a Dollar…  only the unit of measure called a "Dollar" and ertainly not intrinsic in value. The "Dollar" is not a tangible object but derives its existence only from the act of coinage and US CODE for weights/measures that defines how many grains of gold/silver/nickle/copper equals a Dollar and other denomination. The word "Dollar" is a unit of measure as "quarts" are to milk as "quarts" are to water. Stamping "Dollar" on a coin is meaningless in terms of value since the coin just acts as an instrument of measure.

    This unit of measure, Dollar, can't replace or become the "THING" for which it is the measure. It's the same as someone wanting payment in "Gallons".  Your next question would be to the seller…  "Gallons of what?”

    Why can't I change my worthless Zinc-Nickel US slug (Dollar) for that nice shiny Morgan Silver Dollar one-for-one???  Because a Dollar of Silver is not the same as a Dollar of cheap Zinc-Nickel-Copper base metal alloy…  That's why.

    We now carry around empty bottles of, paper-money and cheap metal coins, for which the contents has been replaced by air.

    https://www.constitution.org/mon/what_is_a_dollar.htm

  3. Thanks for this Sam. Very helpful for me and probably a lot of other people. Just make me wonder digital assets are here to maybe put the worlds debt on which will give digital assets higher in value but making fiat money even more so less in value. A way to make more debt maybe.
    Thanks again Sam 👍🏻👍🏻👍🏻

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