$40 Grand For A Piece Of Toast?
Posted: February 11, 2013
Believing the government cannot go broke because it can print all the money it wants is ludicrous (“U.S. Budget Not A Family Budget,” Jan. 31). Do you remember your classes in civics when they told you that once our country was on a silver standard and now we are on a gold standard?
What that meant is that the value of the dollar is based on gold. The government can print all the money it wants, that’s true. The more paper it prints the lower the dollar is valued.
In the early 1930s of the previous century, China took Thornton’s advice and printed paper in large quantities. From the newsreel pictures of the time, we know people needed needed a wheelbarrow full of paper money to purchase a loaf of bread.
Do you really want to pay $40,000 for a slice of toast???
George Lampron
Tenth Legion
What that meant is that the value of the dollar is based on gold. The government can print all the money it wants, that’s true. The more paper it prints the lower the dollar is valued.
In the early 1930s of the previous century, China took Thornton’s advice and printed paper in large quantities. From the newsreel pictures of the time, we know people needed needed a wheelbarrow full of paper money to purchase a loaf of bread.
Do you really want to pay $40,000 for a slice of toast???
George Lampron
Tenth Legion