Minimum wage isn't the problem, fractional reserve banking and unsound money is the problem.
(media.greatawakening.win)
💊 RED PILL 💊
You're viewing a single comment thread. View all comments, or full comment thread.
Comments (10)
sorted by:
Anyone who knows why the US didn't move to the silver standard when silver price hit $1.29 in the 1960s
The US abandoned the gold standard in 1933, and by the 60s the continual inflation was ending the silver standard as well - silver was too expensive to use for coins. Copper standard left in 82, no idea when zinc and paper standard will end, seems soon.
Gresham's law - bad money drives out good.
https://www.silverinstitute.org/silverprice/1960-1965/
" In November 1961 the government also suspended silver bullion sales by the Treasury at the formerly fixed price of 91 cents.
Once the Treasury stopped selling at that price, market quotes for silver quickly rose. In June 1963 the Treasury replaced the $1 silver certificate with Federal Reserve notes. By 1963, silver prices reached $1.29,"