A Pound of Gold to Buy a Loaf of Bread? Stop the Presses!

14 August 2015 AD/1 Elul 5775

The only reason scale of national debt isn’t on your mind is due to its incomprehensible wheelbarrow-full-of-paper-moneymagnitude.

At present rate of growth of national debt, in year 2020 projections indicate that we will need 20% of the GDP of the ENTIRE PLANET just to finance our debt.

Just as the rich rule the poor, so the borrower is servant to the lender. – Proverbs 22:7

To gain some understanding of the effect of fiat currency inflation, consider the history of the price of bread in our country in modern times.

Average Cost Loaf of Bread 1930 to 2013
1930 9 cents, 1940 10 cents, 1950 12 cents, 1960 22 cents,
1970 25 cents, 1980 50 cents, 1990 70 cents, 2008 $2.79, 2013 $1.98

Today, the average price of a loaf of bread is $2.26.

National Debt at 0630 hours today
National Debt at 0630 hours today

“The purchasing power of gold has not diminished since Biblical times. According to the Old Testament, during the reign of King Nebuchadnezzar, an ounce of gold bought 350 loaves of bread. Today, an ounce of gold still buys 350 loaves.” – Dr. Claude Mariottini, Old Testament professor

US Dollar price increases are a function of inflation, not increased value.

I am not advocating you exchange all your money for gold. Instead, let’s demand Congress reign in spending as though our “house” is on fire. Yes, ending runaway spending is as desperate a need as extinguishing a house fire.

Senator John Cornyn​, Sen. Senator Ted Cruz and Rep. John Ratclifferepresent Texas Congressional District 4. You can count on Ted Cruz​ and John Ratcliffe to agree. However, they must hear from YOU. Members of Congress highly value your emails, letters, faxes and phone calls, because your messages are the “ammunition”, the evidence of the broad will of the people to support their individual and collective legislative actions. Click on the above links to contact your Texas Delegation.

John White​
Rockwall, Texas

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s