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And gold inflates too!

The price of gold being fixed arbitrarily low up until 1971 was the original theft... but it was ultimately unsustainable and led to the breaking of the gold standard. The lesson here ought to be: whether we're pricing gold or labor (or virtually anything), it ought to be determined by the uncoerced valuations of the participants in an open market.

Fiat stole our purchasing power. In 1971, the U.S. minimum wage was $1.60/hour. 40 hours = $64/week = 1.82 oz of gold. Today, to earn the same 1.82 oz of gold, the minimum wage would need to be $162/hour. That’s how much value has been stolen through inflation. 💡 #Bitcoin fixes this. View quoted note →

I now see the consequences everywhere I go, I can't stop thinking about what we've lost and it infuriates and depresses me.

Fiat is theft

Modern day slavery

It is called inflation (legalized theft)

Fun experiment: 1. Go back to when you first started to work. Look up how many ounces of gold you were earning per year. 2. Compare your current wage in ounces of gold. 3. 😭 View quoted note →

Almost everybody knows or feels that things are inflated. The problem will be worse if we get bad solutions like raising minimum wage. There is a lot of work to be done.

$337k per year salary equivalent 😳

Your arguments are as bad as your grammar