The bottom line is that, in terms of gold, wages have fallen by about 87 percent. To get a stronger sense of what that means, consider that back in 1965, the minimum wage was 71 ounces of gold per year. In 2011, the senior engineer earned the equivalent of 63 ounces in gold. So, measured in gold, we see that senior engineers now earn less than what unskilled laborers earned back in 1965.
That’s right: today’s highly skilled professional is making less in real, comparative terms than yesterday’s unskilled worker.
In other words, in terms of gold, the Dow, far from setting new highs, is actually worth less than it was a hundred years ago. And stocks are always pointed to as hedges against inflation. If so, they are terrible hedges. Of course, cash is no hedge at all.
So: Your investments have been destroyed, your wages have been destroyed, your savings have been destroyed, you’ve had to put your wives to work to make ends meet, soon you’ll have to do likewise with your children, and whatever is left will be eaten up by government taxation and confiscation.
Which is another aspect worth mentioning, too: the role that taxation has played in hollowing out incomes, savings, and investments. Between taxation and inflation, the havoc wreaked on your personal financial status is well-nigh incalculable.
But you just love your big government protectors, don’t you, you stupid tools?