Is the USD Actually Worthless?

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4 oz
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Is the USD Actually Worthless?

Having never been the ‘Sharpest Tool in the Shed,” I’d like to express some of the things I think I’m seeing and just plain don’t get.

For starters there is the monster rise in Bitcoin and Ethereum presently going on.

Then thinking back on interest rates on CD’s…when 10 years ago returned $50 some dollars on a thousand bucks…..and today brings back like $4.85……

But what has me really shaking my head was learning this week that at a local produce market in my area a person using an EBT card can get $7 of produce for every $5 in purchases….So, yep, the person with the EBT card in front of me can get say 7 asparagus, while I can get 5 for my $5 cash…that I ran my ass of earning the old fashioned way….. Am I nuts, or just a dumb sucker that continues to work?

OR more to the point…..is it…do these types of things provide glaring evidence that the USD is JUST PLAIN WORTHLESS?
Does BTC –at the moment valued at over $2000 just clearly show the USD is worthless?
Do the ‘effing banks show us exactly what the value of the USD is…every day…and have for years??
It it possible that free-be money in the form of an EBT card truly IS worth 40% more than the USD???

sierra skier
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Money for nothing and chicks

Money for nothing and chicks for free. 

I guess our sofa potato support system is worth more than our labor. I'm not at all surprised our leaders give more support to the 'on the dole' voters than those of us who work. 

boomer sooner
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Great topic 4 oz

In hindsight, I would say the legal tender dollar (currency) has always been worthless since the point of ink drying on the paper.  Currency has no value other than coerced value.  Currency is paper, digital or whatever the legal tender laws of your region require for tax payment.  Period

Prior to legal tender laws (forced payment system), in the case of US the dollar bill, debts were settled with tangible items that could be traded for other tangible items.  Today's system with the debt based dollar is far different from the original dollar.

(The law (US Coinage Act of 2 February 1792) defines a dollar as 371.25 grains of pure silver. This is a weight, nothing more and nothing less; a true dollar is an exact amount of silver by weight. A troy ounce is exactly 480 grains, thus a dollar is 371.25/480, or 0.7734 troy ounces of silver.)

The Coinage Act of 1792 has never been repealed.  

Now add that to the Constitution

Article 1 Section 10.

No state shall enter into any treaty, alliance, or confederation; grant letters of marque and reprisal; coin money; emit bills of credit; make anything but gold and silver coin a tender in payment of debts; pass any bill of attainder, ex post facto law, or law impairing the obligation of contracts, or grant any title of nobility.

how did we get the worthless dollar of today?

NW VIEW
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4 oz., you forced my hand!

As you talk about being in line and others free money being worth more than yours, you stirred up old thoughts of my early years.  How does one tell these old events without saying too much of oneself?  Working hard, attending school and trying to compete in this world is difficult when others have "privilege".   There are many forms of privilege.  

 When we were in grade school, being in a poor white community, we all had odd jobs.  Picking strawberries, blackberries, fir cones and doing other jobs.  I sold veges from mom's garden in the summer, pulling a wagon around the city.  I set up a business of selling worms to fishermen until my old next door neighbor saw I was making money an put up his worm sign.

 High school came and dad said "if ya want to go the high school, ya better get a job".  I bought my own clothes through grade and high school.  I worked for the high school, odd jobs at $1/hr. until I was older and washed dishes for $1.50/hr. at a cafe.  Then through high school and three years of college, pumping gas at an I-5 station after school and weekends.  I was still looking for that "white privilege" and never found anything, just work.

 I received my AS from the college, applied for a job with the highway engineering dept. and was hired.  I became a freeway construction inspector.  I moved to the big city, from college, broke and homeless.  Could not find any privilege.

 After about three years, I was transferred to Tacoma, Wa. and was working on a new freeway bridge project.  I could not obtain a promotion as they had to use their funds for pet projects.  One morning, near the bridge, I noticed several inner city black youth, sleeping in the state job shack.  I asked"who are they" and was told that they we hired by the state and given good pay checks but they could not do any of the work, lacking the upper math, so they just would sleep and sweep the shack.  I would have to do the work. Still looking for my privilege.  

Next, my boss, the state resident engineer, came to me privately and said: "Jim, you are working two promotions above your pay scale and I cannot give you a promotion nor a raise. There is not anyone  else available who can do the job."

I finally quit after six years and became self employed, and made a great income for life.  

The wife had the same problem with state employment, she was not a "plus 3", not being in the blessed category and even with college, was passed over by those with privilege.  They told her she was the most qualified for the promotion but it had to be given to someone with privilege.

So 4 oz., I sit here today, thinking about your fiat and not being worth as much as for others.  It may be that a check will come in the mail from Germany.  It may be time for payments as Hitler killed a large portion of my family when he invaded long ago.  Yep, when the Polish people get those reparations, that others are looking for, I will be set swimming in privilege.

It is wonderful that our lives are not centered upon fairness for our Future is set in Stone.    Jim

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NW VIEW

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