by Walter (our guest contributor from Lansing)
When I was a teenage boy I can remember walking down the bread isle of a small store. I still recall a vivid memory of the picture of that isle because every loaf of bread had a large red sticker on it that said 10¢. I happened to have a dime in my pocket and pulled it out to look at it. I can remember thinking that this shiny piece of metal can be traded for a loaf of bread. That was in 1964.
Unfortunately, when I walk down a bread isle today, the loaves of bread cost $2.00 or more. I need to pull out 20 dimes. What ever happened to those big red stickers that proudly said 10¢ like it was when I was a boy? Did a loaf of bread get 20 times heavier or larger? What happened?
The answer is simple: the government changed our silver dimes into paper dimes.
Now, you might think I can’t see that a dime is shiny like metal, or that I can’t hear that it rings as metal does when you drop one. You might think I don’t know the difference between metal and paper, but I assure you that I do. I know it better than you do if you aren’t already aware of the currency scam which has rained down upon us since 1964.
In 1964 the government decided to cease making 90% silver dimes. Speaking with a forked tongue; our government told us out of one side of its mouth that silver was really cheap, and out of the other side of its mouth that it was too expensive to use in currency. So, they substituted copper and zinc in the the place of silver and made dimes that were 0% silver instead of 90% silver. Isn’t that curious? Our government created a dime smaller than a penny and a nickel out of the same elements that a penny and a nickel were made. Then our government had the audacity to pawn it on us with an alleged value to be 10 times a penny and 2 times a nickel! Go figure!
So, how can I call a dime that is made of copper and nickel a paper dime? The answer is simple. The government tagged the value of that copper/zinc dime to 1/10th of the value of a paper dollar bill. It wasn’t hard for them to do that because we were already used to the idea. When they did that, the dime became no more than a highly disguised paper sticker that said 10¢. Therefore, as the value of the paper dollar was devalued, so went the value of the paper dime.
Sure, a modern dime looks shiny as metal. Sure, it rings as metal does. Sure, it is hard as metal is. But, make no mistake. A regular dime today is made of copper and nickel to fool everyone into thinking it isn’t paper.
Now there is an interesting thing about those 90% silver dimes I used when I was a teenage boy. I can walk into a coin shop and sell a 90% silver dime for about $2.00. Then I can take that $2.00 of paper money to a super market and still buy that loaf of bread! I can still buy that loaf of bread for 10¢ if I use a real dime.
Isn’t that interesting? The 1964 or earlier dimes haven’t really changed. The loaf of bread hasn’t changed. But, the paper dime has changed! Since 1964 our paper dimes have been weakened to 20 times less than the value of a silver dime.
That is the conclusion of the article, but not the moral of the story. Here is the moral of the story:
If you want to save your “bread,” do so in silver, not paper.
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