WSJ: Fifty Years of Debasing Money
https://www.wsj.com/articles/fifty-years-of-debasing-money-1437522237
The Coinage Act of 1965 marked the end of silver coins, contrary to what LBJ promised.
By Seth Lipsky
July 21, 2015 7:43 p.m. ET
July 23 marks the 50th anniversary of the Coinage Act of 1965, which stripped U.S. coins of silver and made legal tender out of base metal slugs.
What Lipsky (intentionally I suspect) fails to mention is that *all US Currency (silver certificates or not) was redeemable in silver right up to the middle of 1964 (*with the exception of gold certificates/notes of course) ….. (and the one arm bandits in casinos paid out with Silver Dollars. That, my friends, is an unforgettable sound!!!!)
I know….because from the 1950s until mid 1964 I used to take all my checks and most of my folding moneyto
the bank and trade it in for silver dollars.
In case you’ve never seen one:
A roll of 17 Silver Dollars weighs almost exactly 1 pound.
I often had other kids working for me then…..doing odd jobs, yard work cleaning attics and basements, etc. on jobs too big for me to do alone. I always took customer checks and cash to the bank, got silver dollars and ALWAYS paid my help with silver dollars, halves, quarters and dimes.
The banks all KNEW that they had to exchange paper for silver when requested. I NEVER had a teller even bat an eye. I handed them the checks and cash, saying “Silver Dollars please”. I NEVER had a teller say
that they didn’t have any…or ask why I wanted them. Everybody KNEW that the money was good for exchange into silver.
Never once did I pay a helper with folding money.
Now let’s see what happened AFTER HONEST MONEY ENDED (SCROLL DOWN)
Henry “Jake” Morgan.
This chart only goes to 2012…..but you already know what’s happened since then…..you’ve lived it.
Note carefully also that 1914 was the year that the Federal Reserve Bank began operations and began to slowly destroy the honest, constitutional, silver backed dollar. Our founders gave us our honest, constitutional, silver backed dollar …. along with other standard weights and measures…..in order to make business easy to do….and to prevent cheating. It was during the period of Constitutional Money…that the Great American Prosperity and Social Upward Mobility came to be.
53 YEARS AFTER HONEST MONEY …. THE US IS 22 TRILLION IN DEBT AND CLIMBING not to mention 210 trillion in US unfunded liabilities.
AS LONG AS THE FEDERAL RESERVE BANK AND ITS PHONY MONEY LIVES, THE BANKRUPTCY OF THE US, JUST LIKE ZIMBABWI AND VENEZUELA, IS INEVITABLE.
YOU CAN LEARN WHY, AND WHAT TO DO ABOUT IT, HERE: http://currencyalert.us/
Photo of a Zimbabwi 2008 One Hundred Trillion Dollar note: