Monday, October 6, 2025

Silver quarters

When I was about 12, my great aunt gave me four silver quarters and told me to keep them because they would be worth something in the future. She was right. Fast forward six decades and those 4 quarters would be worth about 25 dollars Why? The Federal Reserve was established in 1913 by bankers. In the years since it has become the "elephant in the living room" dominating the American economy and much of the world. In the old days when gold and silver were used as actual currency in the form of coins, ruling authorities could debase the currency by mixing base metals with the precious ones. Today the process is much easier. A simple bookkeeping entry by the Fed and voilĂ , we have another trillion dollars. As this money flows into the economy inevitably the price of goods and services increases. As Milton Freedman said, "Inflation is always a monetary phenomenon." Americans may have more money but it buys less. The ten cent candy bar of my youth is now two or three dollars. The ongoing rise of gold, which is almost $4,000 and ounce, and silver which is closing in on $50 an ounce, shows that people are losing faith in fiat currency. What happened to the 4 silver quarters? I spent them soon

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