Comment: A big difference at the time,

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A big difference at the time,

A big difference at the time, however, was that alternative currencies circulated freely and the government had no power to restrict your choice of a particular currency - except with which to pay taxes.

Essentially it was easy to avoid the central bank fiat notes: just trade in gold, silver or copper coin, private bank notes, warehouse receipts, and so on. Only the poor patriotic fool who bought US bonds and used Central Bank notes out of a sense of "patriotism" was stuck with whatever inflation the Bank or Treasury created (and my understanding is that inflation on Treasuries was insignificant during that period).

Big difference to today - there is no reliable way to protect your immediate purchasing power at the moment - due to the legal tender laws and the Bretton Woods II "managed international currency" system.

At those times you could easily protect your savings. Now its near impossible, particularly with the dual-edged sword of inflation and income / property taxes. If you save in cash, inflation eats your savings. If you save in property (anything else, like commodities, bullion, etc.) you are supposed to declare the "income" resulting from the inflation and declare that!

A more hypocritical and deceptive system of theft has never existed compared to this system of lying to under-report inflation while calling any commodity "surplus" as "income".