[ExI] Summer weather and COVID-19

[Dylan Distasio]

On Sun, May 24, 2020, 11:42 AM John Clark via extropy-chat <
extropy-chat at lists.extropy.org> wrote:

> On Sun, May 24, 2020 at 10:22 AM spike jones via extropy-chat <
> extropy-chat at lists.extropy.org> wrote:
>
>
>
>> *> the print more money argument.  If they do that, then those who lent
>> real money are paid back in play money, diluted currency.  They will not do
>> that again.  This is a strategy that can be used only once.*
>>
>
> Only once?! That strategy has been used almost continuously since 1835
> and people are still eager to loan money to the federal government even at
> the super low interest rates we see today.
>

That's not true.  Prior to 1913, noone was printing as much money as they
wanted; they were constrained.

The creation of the Fed in 1913 was the beginning of the end for the buying
power of a dollar.  Nixon finished us off.   We will never see a dollar
worth what it was in 1913 again.

1913: $100
1923: $57.89
1933: $76.15
1943: $57.23
1953: $37.08
1963: $32.35
1973: $22.30
1983: $9.94
1993: $6.85
2003: $5.38
2013: $4.25
2019: $3.87
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.extropy.org/pipermail/extropy-chat/attachments/20200524/160bca5f/attachment.htm>