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 Replies: 10 / Views: 1,972 |
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Pillar of the Community
United States
543 Posts |
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Pillar of the Community
2224 Posts |
Well, consider the source!  Is that Forest Gump in that photo? |
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Pillar of the Community
United States
4132 Posts |
It was true until a couple years ago. If you had hoarded silver in the 60s and wanted to retire on it in the 90s you would have lost relative to inflation, and lost big-time relative to the stock market.
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Pillar of the Community
United States
2734 Posts |
Some very interesting words in that article when you zoom out a bit: The change in coin composition was, according to LBJ, "dictated by the need to conserve silver for industrial and other demands which, over-all, have been consuming silver at about twice the new-production rate for some years." ( and this wasn't going to lead to physical shortages somewhere down the road?!   ) And the Treasury did have about two billion ounces of silver at the time, making some sense of LBJ's lie "statement"  about using their hoard to "keep the price of silver in line with value in our present silver coins". ( but you know what happened afterwards! ) Quote:
If you had hoarded silver in the 60s You would have made out like a bandit if you sold at the Hunt Bros. peak in 1980.  $50/oz. in 1980 Dollars is about $130/oz. in today's Dollars, adjusted for inflation. We have a ways to go yet. Edited by DNA
07/28/2011 6:23 pm
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Pillar of the Community
United States
648 Posts |
There is another section in the page that talks about social security in the future of "2010" and families will get a big check of $368 per month. Boy have times changed.  |
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Pillar of the Community
United States
4008 Posts |
It is not unusual for government cost estimates to be low by about 1000%. They have done this time after time. The entitlement programs were all supposed to cost 1/10th or less than what they cost today. There is no way that they could have gotten the votes for them with an honest and accurate cost estimate. Any time you hear some government person stating the cost of a new program - add a zero to their estimate and you will be very close to the actual cost. All this reminds me of a Revolutionary War quotation... "No man's life, liberty, or property is safe while the legislature is in session". Whoever said that was a genius... but even he underestimated their rapacious capacity!  |
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Valued Member
United States
397 Posts |
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Pillar of the Community
United States
1150 Posts |
So...let me get this straight. LBJ is saying that silver is a bad idea? However, Vietnam was a good idea?
Oh, how wise our politicians are.
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Pillar of the Community
United States
3670 Posts |
Funny you should mention that Mitch, as the one quote I remember from LBJ, was the hypothetical conversation in the Oliver Stone movie JFK from 1991, and Stone figured LBJ said somthing like...."Get me in office, and I will get you your Vietnam war"
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Pillar of the Community
United States
4008 Posts |
LBJ said a lot of things. Some of them can even be printed in the papers or on this web site. A lot of other things he said either can't be or got sanitized for public / historical consumption. He WAS a very profane man... and absolutely devoid of any personal modesty.
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Rest in Peace
United States
9104 Posts |
Quote:
families will get a big check of $368 per month. Boy have times changed.
Keep in mind, this was part of a $6 Million package. |
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Replies: 10 / Views: 1,972 |
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Posted 07/28/2011 5:51 pm
