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A hundred dollar bill is worth less than $4 today!

What are dollars? What are Federal Reserve Notes? Why do we call them "dollar bills". Where did the term dollar come from, and what is its legal meaning considering that it appears in the seventh amendment of the constitution?

To make a long story short a dollar is a silver coin containing a specific weight of pure silver, roughly 0.773 troy ounces. A note is a promise to pay, an IOU, technically speaking a "promissory note". The term "bills" comes from the term bills of credit, which is another fancy way of saying IOU's. The constitution makes it clear that "No state shall Emit Bills of Credit or make any thing but Gold and Silver coin a made a tender in payment of debts". The Federal government has no business making legal tender laws under the constitution only the states have that right, but even they are limited in their Tender making powers to gold and silver coin.

Please see my blog, view the videos, and read the articles to learn more in depth about this topic. http://whatisadollar.blogspot.com/



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In 1913, $100 and change bought 5oz Gold

Thanks. Bump and Bookmarked.

Free includes debt-free!

Good Point

In terms of gold the value of a hundred dollar bill has declined even more precipitously than it has in terms of dollars. Today a hundred dollar bill is worth less than 1/17th of an ounce of gold whereas as you pointed out it was worth almost 5 oz in 1913. Crunching the numbers shows that in terms of gold a hundred dollar bill is worth 98.81% less today than it was in 1913 when the Federal Reserve was established.

$3.667826922583177 as of now

coinflation.com

$100 / $27.2641 (Silver Dollar "melt" value)

Nice thanks!

Way to crunch the numbers!

Coinflation

I like this site

Interesting to note that pre-1964 change i.e. dimes, quarters, and halves are actually worth less than their face value (real terms i.e. not priced in dollar bills from the fed). I believe this has been the case since 1853, prior to that a dollar in change contained a dollar in silver.

reedr3v's picture

bump

for education.

Thanks for the bump!

I hope people read this and realize that Federal Reserve Notes are not worth their face value.

bumping

I have to buy groceries tomorrow. I am dreading to see how much the prices have gone up since last month. I only buy groceries once a month and can usually get thru on $120 for 2 people... It is now getting to the point we will have to forgo meat. Beans are good tho! If we are still in this house next spring am hoping I can get someone to rototil up a garden for me. I can plant and weed but am too darned old to do the tilling.

Formerly rprevolutionist

reedr3v's picture

What is really needed is more neighborhood

garden exchanges, plus neighborhood chichens, goats, hydroponics, the works. We all need to be more self-sufficient. slowly the idea is growing; in my area there are more gardens than I've seen in decades.

I concur

Neighborhood is important

Agreed

We need more of all of that

It's rough out there...

You might try going to your local farmer's market, sometimes if you are willing to buy in bulk and take seconds you can get good deals on really good healthy food if you make an offer. My fiance and I get a 50 lb box of organic heirloom potato seconds (Purple, Red, pink, yellow, white, probably a dozen different kinds) every couple weeks for $25 face value in Fed Notes it's been the same price since we started getting them a couple years ago (I have even paid him in silver before! I remember a couple years ago it was over $2 in specie I paid him one time). It's also good to build those relationships with local farmer's if you can. BTW Potatoes are full of vitamin C, they have more potassium than bananas and they are a good source of B6, iron, fiber, copper, magnesium, and phosphorous I highly recommend them as a cheap source of nutrients and calories.

No Till Gardening?

Cool

Thanks for posting

Thank you!

Thank you!

Formerly rprevolutionist