In 1971 gold was $35 an ounce, or $1.13 per gram. The US federal minimum wage was $1.60 per hour. That means it only took the least skilled of workers just 70% of one hour to earn an amount equivalent to 1 gram of gold.
Right now, gold is $1,273 an ounce, or $40.95 a gram. The US federal minimum wage is $7.25 per hour. So, a minimum wage worker today will have to work over 5 and a half hours to earn that same gram of gold.
The 1% hijacked the money, which is why everybody’s broke and everything’s in ruins.
The US does allow dual citizenship. For example, US-born people with dual US-Israeli nationality can go join the Israeli military, vote in both countries, etc...
In 1971 gold was $35 an ounce, or $1.13 per gram. The US federal minimum wage was $1.60 per hour. That means it only took the least skilled of workers just 70% of one hour to earn an amount equivalent to 1 gram of gold.
Right now, gold is $1,273 an ounce, or $40.95 a gram. The US federal minimum wage is $7.25 per hour. So, a minimum wage worker today will have to work over 5 and a half hours to earn that same gram of gold.
The 1% hijacked the money, which is why everybody’s broke and everything’s in ruins.
The US does allow dual citizenship. For example, US-born people with dual US-Israeli nationality can go join the Israeli military, vote in both countries, etc...
Exactly!