Allow me to repeat it. “The more of anything there is, the less they will be worth, and the less of anything there is, the more they will be worth.” This applies to everything, be it carrots, wallpaper, lumber, auto parts, bricks, water in the desert, or water anywhere. Snow, sunshine, trees, and you name it. Oh I forgot. Dollars as well, and the more dollars there are, the less they will buy. Fair? Here’s some statistics:
THE ABOVE WAS THE FIRST PARAGRAPH OF LAST WEEK’S COLUMN
When something happens every day, no matter what it is, be it pleasant or a disaster, we soon get used to it. Take gasoline as an example. Under Trump’s first term, gas was $2.14 per gallon. Now, it’s $4.00 or more, and we get used to it, because it happened, we need it, and it’s a horror story, but we get used to it. When I was a kid, it was a quarter a gallon, and White Tower (I think it was the name) hamburgers were a nickel. They had a small beef patty in them, but they were a nickel, and I played a pin ball game with no free game possible for a penny. Games which you could win free games were a nickel, and new 600:16 tire was $9.95. So much for my memories, and at that time, we even then, looked for gas stations which were a penny a gallon cheaper, just like we do now, only maybe fifty cents a gallon cheaper. My wife Bonnie and I, often go to Grand Junction on Saturdays, just for the fun of it. It’s 65 miles, four lanes all the way, scenery is great, with a speed limit of 65, and we usually set the cruise control for 73, and cops don’t care. We can go to Sam’s Club and get everything cheaper, including gas for a quarter cheaper, and that pays for the trip.
Things, which happen all the time, but take time for them to happen, makes their change seem trivial, even though they aren’t.
I constantly preach and write about how the U.S. dollar has gone to virtually nothing of purchasing power, compared to “old times,’ and that’s why I have never had a savings account or owned a share of stock. Both are gambling, but the odds of winning with gold and silver against odds of stocks, to me are a sure thing. The ‘sure thing,’ I speak of, came home to roost last week, when a gal came in and wanted to know how much she could get for her box of 800 U.S. silver half dollars. I didn’t know, but I told her I’d find out, and I did. We were both shocked. Susan got $23 EACH for her 90% pure U.S. silver half dollars, (fifty cent pieces), and she got over $18,000!
As the title of this “Sixty Two Years,” proves, not only is Stott’s Law accurate, but in 62 years, the fifty cent coin has gone from fifty cents to TWENY THREE DOLLARS! In 62 years, the U.S. dollar has lost 4600 percent? If, when the U.S. coins switched from 90% silver to base metals and you had glommed up all you could have found before everyone almost instantly took them off the market by keeping theirs and any others they could find, their hoard would have gone from fifty cents to $23.00, and I assume a silver quarter would be $11.50.
I well remember ‘saving’ all could find, when the coins went from silver to base metals, but I never really saved them. When I got into the precious metals business in the fall of 1977, I instantly realized the beauty of what I was into. I never even thought about it before, as I was into the ice cream business with ten stores, had six movie theatres, three hotels, America’s first non-smoking restaurant, etc., and had always been doing fine with my business ability.
(I was conned into writing a book about my life which I did, but only printed 50 of them, because I figured no one would be interested in a life as ordinary as mine has been. It was fun to write. I have it on my computer, and I’ll forward it to you by e-mail if you want it.)
Honesty, I thought it should have been obvious as to the collapsing of the U.S. dollar, when I mentioned nickel Cokes and Hershey bars, but the $23.00 fifty cent pieces, really amazed me, and urging you, for the umpteenth time, to get the hell out of U.S. dollars, and save in silver and gold, whose prices in U.S. dollars go up as the dollar goes down, and in history, not a single nation has ever defeated inflation, which brought them down, as ours is happening. THINK ABUT IT DEAR READER. Nothing has ever made more sense.
Don Stott don@coloradogold.com