July 23rd - 50th anniversary of the Coinage act of 1965. (poll - did it cause inflation, or was it a
EagleEye
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It was 50 years ago (last week) that Johnson signed the act which changed our coins from silver to cupro-nickel clad.
Do you think the act caused inflation or was a symptom of inflation?
Do you think the act caused inflation or was a symptom of inflation?
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the banking cartel at it's finest after removing mr.kennedy with his Executive Order 11110
I don't think the loss of silver in our coinage was a cause or symptom of inflation.
Lance.
I don't think inflation is really important or matters much. Why You ask...
How do you account for things like personal computers and smart cell phones to the big one ....... the internet.
Although the US is the main player when it comes to world-wide economics in this period, it is important not to exclude world-wide events that may have contributed to it.
For the US, it was likely the Vietnam war and Johnson's "Great Society" programs that caused inflation. elsewhere in the world, it was perhaps an artifact of the post WW2 era, like the Marshall plan and Japan's resurgence.
When we look at extreme events like the Weimar Republic hyperinflation of 1920's, it is important to note that the printing of worthless money of increasing higher face values was a symptom of bad fiscal management in desperate times.
The use of silver or precious metal acts to constrain bad policies from being made.