Truth Bomb Central: Memes that Expose the Deception (604th Edition)
“A lie, sometimes, can be truer than the truth, which is why fiction gets written.” ― Tim O'Brien
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Bold & Irreverent
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Well, I don' know who is "Bitcoin Teddy" but in 1971 the official rate to redeem dollars for gold was $35 per ounce right up until Nixon shut the redemptions in the 8th month of that year. At about that same time the "world" price was closer to $40 per ounce. It was definitely not 1.82 ounces per $1.60. Nor does that work for silver, because a silver dollar has 371.25 grains of silver and there are 480 grains in an ounce. So you get 594 grains of silver for $1.60 and that works out to 1.238 ounces of silver. Now $1.60 x 40 = $64 and that is 1.829 ounces of gold at the $35/ounce redemption rate - but you'd have to be in Europe to take possession of that gold.
See, in 1971 no American was "allowed" to own gold and had not been since the unconstitutional executive order of the mass murderer and demon worshipper Frankie Roosevelt in 1933. So let's stick with silver. Of course, the coins had been debased in 1965 by evil mass murderer Lyndie Johnson so the half dollar and dollar coins in 1971 were about 40% silver unlike how they had been up to 1964 (including that last year of 90% silver). But suppose we have $1.60 and we got paid by some old timer in coins from before 1965. How much would that 1.238 ounces of silver be worth today? Well, the spot market for silver is open. Right now an ounce is silver is $94.58 which means that 1.238 ounces would be worth $117.09 which is a hefty sum for one hour of work. That would be $4,683.60 for a 40 hour week and over $243K per year - for minimum wage equivalent.
The spot market for gold is open, too. At the moment, $1.829 ounces of gold is worth about $9,860.
For sure the Feral Reserveless scam has wrecked the economy.
Conspiracy Theorist
I keep telling my best friend she has to call it like it is because if she doesn’t then that person she is talking to might not ever hear the truth.