My grandfather was born in 1885 and worked from the time he was 7 years old. He actually was aware of the old Wild West and even saw the Buffalo Bill Wild West show twice. Yep, he got to see Buffalo Bill and Annie Oakley. Now, back in those days, he said that there was no real INFLATION. People in general made anywhere from $1 to $2 a day. They lived as cheaply as possible and even saved a few cents each day. To clarify things, he plowed fields for $1 a day and office workers were paid anywhere from $1 to $2 per day. Pretty much like it is today. Laborers get paid less than Office workers. I'm always amazed to watch Western movies and see some Cowpoke who made $30 a month go into a Saloon and ask for a Shot of Whiskey and then thow a Silver Dollar on the bar and get no change back. Did that Cowboy actually spend a whole days wages on one damn shot of whiskey? I call Bullshit on that one. Back around 1900, you could rent a room in a hotel for anywhere from 50 cents a night to $1 a night. Then in 1912 the Federal reserve was allowed to be created and in 1913, our monetary system was turned over to them. While US Paper Currency actually came into existance after the Civil War, Silver and Gold was still basically the means of exchange. Yes, I know the Confederacy created Confederate money but even then most paper money was in BANK NOTES issued by individual banks. Now, as to inflation. Slowly, and I do mean slowly, prices began to rise due to the Federal Reserve having been given the authority to order the Government Printing Office to print whatever amount of Currency they demanded. Since the Federal Governmenmt turned over our money sytem to the Federal Reserve, it actually turned over the control of our nation to the Federal Reserve. Since 1913, we have had growing inflation on an ever incresing pace. I was born in 1945 and a Car battery cost anywhere from $10 to $15. Today that same Car battery costs $150 to $200. The notion that holding physical Silver or Gold is a hedge against inflation can be compared to 1900 economics. When the Dollar becomes totally worthless and a hotel room costs hundreds if not thousands of dollars for one night, those people who have physical Silver or Gold will most likely be able to stay in that same hotel for ONE OUNCE OF PHYSICAL SILVER just like they did back in 1900. The reason for that is that people will not be willing to readily part with their Silver or Gold and the Businesses will want something more stable than Government printed toilet paper.
