Forum Post: This illustrates how inflation f*cks the people
Posted 13 years ago on Oct. 8, 2011, 7:19 p.m. EST by anima
(60)
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Average wage in 1970 - $6,186.24 or 176.75 ounces of gold
Average wage in 2009 - $40,711.61 or 24.86 ounces
Your average wage of 176 ounces today - $288,217.60
This illustrates how inflation and fiat money f*cks the people.
gold price 1970 - $35 gold price 10/8/2011 - $1637.60
Not only that, but the price of gold and silver have been suppressed by JP Morgan and other entities through market manipulation of paper shorts. There is a class action suit against JP right now and the SEC is sitting on their hands. The true price of (physical) metals would be MUCH higher if this manipulation were not occurring....
the dollar would collapse instantly if they stopped manipulating it.
the asset class is not being suppressed. By shorting the metals they're propping up the dollar. People talk about the price so much and how its so high but that's not the issue. It's the dollar is completely worthless. under our old system we had the largest middle class in the history of the world. They owned their homes, had savings, donated money to charity. They could take care of the poor. They were so wealthy and their standard of living was unbelievable.