Historical accuracy?

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  • Mon, Oct 11, 2010 - 05:15pm

    #1
    Espgreg

    Espgreg

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    Historical accuracy?

In Chapter 10 we read:

“From 1665 to 1776 there was absolutely no inflation. For 111 years, a dollar saved was, well, a dollar saved. Can you imagine what it would be like to live in a world where you could earn a thousand dollars, put it in a coffee can in the backyard, and your great- great grandchildren could dig it up and enjoy the same benefits from that thousand dollars as you would have 111 years previously? This was reality in the US at one time.”

I’m no historian, but I know that the United States did not come into existence until 1776.  How could there be any “reality in the US” before it existed?  How could there be any dollars when there was no country to issue them?  If I’m not mistaken, pre-revolutionary America used the pound sterling.  Am I wrong?

  • Mon, Oct 11, 2010 - 06:27pm

    #2
    Peak Prosperity Admin

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    Re: Historical accuracy?

[quote=Espgreg]

In Chapter 10 we read:

“From 1665 to 1776 there was absolutely no inflation. For 111 years, a dollar saved was, well, a dollar saved. Can you imagine what it would be like to live in a world where you could earn a thousand dollars, put it in a coffee can in the backyard, and your great- great grandchildren could dig it up and enjoy the same benefits from that thousand dollars as you would have 111 years previously? This was reality in the US at one time.”

I’m no historian, but I know that the United States did not come into existence until 1776.  How could there be any “reality in the US” before it existed?  How could there be any dollars when there was no country to issue them?  If I’m not mistaken, pre-revolutionary America used the pound sterling.  Am I wrong?

[/quote]

A good question Espgreg. I got one for you. What publication did Chapter 10 quote from? This sounds familiar but I can’t place the source.

  • Mon, Oct 11, 2010 - 10:50pm

    #3
    Peak Prosperity Admin

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    Re: Historical accuracy?

Unless I’m missing something, Chris Martenson doesn’t indicate his sources.   And I can’t tell you, off the top of my head, what his source was in that part of Chapter 10.

  • Tue, Oct 12, 2010 - 01:33pm

    #4
    Peak Prosperity Admin

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    Re: Historical accuracy?

That part was not meant to be taken literal history, folks.  There was no ‘dollar’ way back then either.  

The idea was simply to communicate, in as few words as possible,  the concept that during whole periods in our country’s history whatever we used for wealth (with ‘dollar’ being a shorthand representation for that for modern folks) did not suffer the perpetual ravages of inflation.

But I am always open to doing better.  If you can say it better, more clearly, and in as many or fewer words, then please help me out and write them here. 

  • Tue, Oct 12, 2010 - 05:18pm

    #5
    Peak Prosperity Admin

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    Re: Historical accuracy?

[quote=Espgreg]

Unless I’m missing something, Chris Martenson doesn’t indicate his sources.   And I can’t tell you, off the top of my head, what his source was in that part of Chapter 10.

[/quote]

It came from the Crash Course?!?!  Duhh!  Sorry I didn’t recognize it.

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