1Historygenius
1Historygenius' Photo Album
This here shows the value of the U.S. Dollar in gold. As you can see, in the early part of our history, when the dollar was backed by gold, the U.S. dollar was strong and valuable. It only lost value a few times from wars. Then in the 1930s, President Franklin Roosevelt took the gold standard off and the dollar lost some value. He eventually put the gold back on. In the 1970s, President Richard Nixon took off the gold for good which has incredibly devalued the dollar. This graph shows barrels of crude oil in gold grams. As you can see before the gold was taken off, the price remained very stable. Then in 1972 when it was taken off, oil has been all over the board. It needs to be stable again and we can do this with the gold standard. This graph shows the FAO food price index in gold. If we had a gold standard, food prices would actually not be as high as they are right now. Instead food prices would be going down. This graph shows U.S. household net worth in gold. It starts in 1945 and we can see that the administrations of Truman, Eisenhower, and Kennedy brought this net worth up. Then in 1972, when the gold was taken off, households lost a lot of net worth. It rose again during the Reagan, Bush Sr., and Clinton administrations, but has since then fallen in the Bush Jr. and Obama administrations. We need to get the gold standard back and create a good economic policy to raise household net worth again.
This graph shows U.S. retail gasoline in gold. If we had the gold standard today, gas prices would be going down, not up. Historically, dimes contained 90% silver. A gallon of gas was worth two dimes. Today, a gallon of gas is still worth two silver dimes. Dimes are generally no longer 90% silver since 1964. If pennies were still made of copper, a gallon of gas would be worth $1.25, but today they are not. This graph shows the production of workers hourly wages in gold. Since 1972 when the gold standard was taken off, wages have decreased rather than increased. Wages increased from pro-growth policies made by Ronald Reagan, George Bush Sr., and Bill Clinton, but once again it has decreased under the Bush Jr. and Obama administrations. This here shows a Yale College tuition, room, and board in gold grams. Today, if we had the gold standard, a tuition at Yale would be the same as one in 1900!
   

By using this site, you agree to our Privacy Policy and our Terms of Use.