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Originally Posted by Jim040558
How a lot things cost in 1933 vs now if we still had actually a silver backed dollar ($21.60 price conversation)....If we were still backing the dollar via silver, does anyone doubt that we would have actually a higher conventional of living in this country today?
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Historically, you should go back to 1873, not 1933. It"s 1873 when silver ceased to be money.Anypoint after that price-wise is silver as "something to prop up the silver industry" or silver as coinage...not money. Officially.
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What execute you mean BACKING? The dollar WAS silver!The paper was simply a "excellent for" certificate that you could exchange for physical dollars, that are the same silver now as they were in 1933.The OP"s "$21.60 price conversation" is for converting Federal Reserve Notes into dollars, not dollars right into dollars.
That is for an unskilled laborer. What would certainly one acquire paid to work-related at McDonald"s? Average salary is higher. But even the average salary would buy even more, since prices would certainly not be as inflated as they are this day, which was the totality point of my exercise.
That is for an unskilled laborer. What would one gain paid to occupational at McDonald"s? Typical salary is higher. But also the average salary would certainly buy more, because prices would certainly not be as inflated as they are today, which was the whole allude of my exercise.
Sorry, I missed the sepaprice line on salary. Today, the median salary in the UNITED STATE is approximately $45K, around 1.36x the amount it "should" be -- so if you multiply all the items by 1.36, you"ll watch what the amount really need to be this particular day, based upon the increase in salary. If that makes feeling. e.g. for a gallon of gas at 2.16, multiply by 1.36 to gain $2.93 that we must be paying (based upon inflation and also readjust in salary). That"s not hugely off the mark. In reality, in the 1990s we were paying as bit as $1/gallon, which is rather a bit less than we would have actually been paying earlier in 1933.
The expense of theater admission was 0.10 and that is 10 movies for a dollar.Today that would certainly be Silver Dollar worth $100.http://www.todaysteacher.com/TheGrea...2PriceList.htmLook at the coffee prices.
The cost of theater admission was 0.10 and that is 10 movies for a dollar.Today that would be Silver Dollar worth $100.http://www.todaysteacher.com/TheGrea...2PriceList.htmLook at the coffee prices.
Today the FRN worth of a silver dollar will certainly get you two adobjectives and also a little box of popcorn. Silver is still cheap, genuine cheap.
Today the FRN worth of a silver dollar will certainly acquire you two adobjectives and a little box of popcorn. Silver is still cheap, actual cheap.
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Don"t even joke about that because I just went. I saw Kaprice Kid for $10 + an additional $10 for popcorn and also a coke. I understand what the prices are this day. Silver Dollar in the Great Recession of 1933 was worth method even more. And the Movies were way much better via Humphrey Bogart.
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