PROOF is in The GOLD! We are Being Robbed 

So glad you brought gold and inflation up! Most don’t know or don’t care! People NEED to hear this!!!

Mike, 1966 was a good year! I was in Vietnam flying helicopters as a Warrant Officer, W-1 and grossing $425 per month. It was so much better than the $1.60 per hour I was making working residential construction. Wished I would have bought one ounce of GOLD each month during that year in Vietnam. But, alas, I spent it on other things such as: 1966 OLDS 442 (at home and being used by my folks). Now, that same OLDS is available for sale as a vintage vehicle for $50,000 and above. That's my relationship with inflation and it will never get better unless THE FED stops printing money it doesn't have.

Mike I was born in 1963 so I imagine prices were pretty close to the same. I have also been collecting gold and pure silver for decades. Now that all started in the late 70s as a teenager my dad told me that I should do that and then I went into the military for 30 years, and continued to buy it my dad kept it in a safe for me as I would send my money to him and had him put money in the bank for me what I did not need to use…. Great post Mike

Mike, your analysis is spot on. This nation is in slavery to its own debt. And yes, that debt was amplified on purpose. Debt makes people compliant. Gold and silver protect purchasing power, but the biggest thing anyone can do to maintain their liberty and autonomy from the coming CBDC nightmare is GET OUT OF DEBT!

High Mike, I graduated from high school in 1966 and my class ring cost S40. Not long ago we discovered that the cost of my children's class rings were in the neighbor of $2000 each which was not affordable. Your analogy is absolutely accurate. I enjoy your videos and your ability to articulate many subject matters. Please continue your You0Tube contributions and give your family my best, William J. Butchee from Minnesota. PS Jerome Powell can use your wisdom.

Your comparisons using gold as the value standard is spot on and maybe the best and most relevant comparison I have seen. Your reasoning is very solid in my opinion as well. Government is killing us plain and simple.

100% spot on Mike! It's nothing but a big shell game - good luck finding which one the actual money is under....

Hello Mike. This video brought back a particular memory. Years ago, I found a couple of old shoe boxes in my house. They were full of my late fathers paycheck stubs. He worked in the paper mills in Holyoke, Massachusetts, for over 40 years. They ranged from 50 to 70 dollars a week. I found out that was decent pay for that time period.

Love your inflation conversation. I try and remember that the only thing I control is me and what I do. Lower my expenses and increase my income is how I stay afloat. Everything else is a distraction. Gold at some point will be less of a hedge.

We watch all of your videos and enjoy your sharing your story of a family pursuing The American Dream. Family values, hard work, community involvement and belief in personal liberties are values on which we agree. Really enjoyed your take on inflation and basic economics! Keep up the good work and God bless your family.

You are spot on!!! I was born in ‘69, and things certainly have changed in our lifetime. I Worked for a government Aerospace defense Contractor, beginning in ‘96 On military aircraft systems. The company would always play with the numbers… to make it look good no matter what. I Was heavily involved with the F-22 program… And many others in R&D. The government pulled the F-22 contract, and cut the orders in half on those jets. It never showed badly on our company Stock quarterly reports. Insider trading runs rampant, and The Stock Market really is a farce. Really Love watching your channel!

That's a lesson that everyone needs and few take the time to learn. Thanks for the common cents.

My 2003 Super Duty which I ordered brand new was in the $38,000 range and it was well optioned for its time. My 2022 although better optioned was pushing $100,000. That’s a ton of inflation in 19 years

Mike, you are spot on with this video episode! As a former elected official I always had a question when additional funds were proposed to be spent, where are we going to reduce spending in other categories to balance the budget? In my humble opinion, not enough elected officials ask this question! “Keeping on Keeping on!” Tim in northern TN

Price of gold in 1976 - $175.00 We went off the gold standard in 1971. Till then, gold was $35/oz by law and it was illegal to possess unless it was either jewelry or currency.

1966 I'm 1964 u are so right can't keep up with inflation luv ure stuff cheers 🥂 😊

The thing people don't often realize is that it is actually cheaper, yes cheaper (or less expensive) to make that Ford truck today that it was back in 1970. In fact, that's the case for pretty much everything. If you consider automation, constant improvements on tools, tooling, processes, computers and technology etc, it is less expensive to make something today that it was 50 years ago. So, while things have changed (more electronics etc) the cost of the vehicle in a natural economic state with Species money is that the 'cost' of a product will deflate over time, NOT inflate. The only way to have inflation like we do today is to have FIAT money (that is money by government fiat - rule/law) which has no value other than what they say it has. They print more (free stuff?) and as there is an increase in supply it becomes worth less - and eventually 'worthless'. Tough times ahead. Good video young man ;) (you're a year younger than me).

Agree or disagree these little talks are always good. Love it when you break out the numbers and crunch em for us. I have been supporting Article V convention of States for years now thinking this would be the solution to a run away Federal government and it would should we succeed in getting the required number of States onboard. It's been 10 years and we are half way there, the problem I see is we don't have another 10 years to get the rest of the States needed. Seems as though that ship may have sailed.

Yelp, spot on. If I get a "cost of living raise" of 5% and cost of living goes up 8%, I get a little deeper in the muck.

Hello, I understand your concerns about inflation. 1. However the gold price during the 60’s price under government control should not be compared to the current “open market” price. 2. The price of a house during the 1960s when we were buying a 2/3 bedroom 1 bath small house will not be comparable to the 4/5 bedroom 3 bath larger house of today on a larger lot!!! Every one has to have this!!! 3. Moreover one of my neighbors has moved in and is very happy with “as is”. Two other neighbors moved in and are remodeling everything increasing their house value out of reason!!!The latter to will have to expect/realize outrageous price when they sell! I understand your concerns, but we have to realize that “ inflation” has many contributing factors. 😊😊😊 John Ken

In 1966 I graduated from WVU with BA in botany and was headed to The University of North Carolina at Chapel Hill for graduate school. My parent allowed me to use my own money to buy my first car. They put us through undergraduate, but we had to buy our own cars and pay for our own graduate school. I purchased a 1966 Ford Mustang, 6 cylinder 4 on the floor w/ factory AC in Forest Green from the factory for $3200.

This year I bought the grandkids gold and silver as part of their stocking stuffers.

100% Mike. Owning hard goods and the skills to leverage them is the only way to hedge your bets against inflation. Young people would be well served by learning this now and developing in demand skills and not the useless dribble thats the focus today.

I remember my dad telling me when he was a kid growing up in the 1950’s going to the bank and trading a dollar bill for a silver dollar. He said he could get as many as he wanted.

you're absolutely correct on Gold, inflation, and everything !!!!!!!!!!!!!!!!!!

An interesting discussion Mike. In 1966 citizens were not allowed to own gold which was price controlled by the government at $35/oz. I may be slightly off in my dates but the dollar was allowed to float between 1973 and 1978 at which time citizens were able to own gold. I think the government tried to set the price at $42.22/oz but it was never enforced. Thus to estimate the amount of gold you can by on a years salary you should probably a different starting date. Your example of ad CD at 4.5% is valid except that if you didn't buy the CD you would be out 9% due to inflation. All interesting stuff and I appreciate the discussion and your analysis

I hope you get a 🦌 and have fun today

Great conversation about gold and inflation.

Very well said Mike, in 1972 gold closed at $58.17 and has steadily risen ever since.. Love these videos ❤

Mike, great discussion to bring the real forward. I was also born in 1966 and have a wife named Melissa. Our lives are very different, but the world we share is not. Thanks for your insights, as they are so aligned with mine.

Hi Morgans! love the channel !!! I know what you mean but don't forget price of gold 58 years before 1966 in 1908 was 20.67 and actually from 1945 to 1853 the price remained the same about 20.67. So for about 100 years little change in gold prices, why? It all changed in 1974 when gold was worth 154 and went up and up until 2010 breaking the 1200 mark - So what really brought gold prices up? basically the demand as a safe haven investment , currency, jewelry, and electronics, the cost of mining and refining to the fluctuating market prices. central bank reserves, the value of the US dollar and the desire to keep gold as a hedge against inflation and currency depreciation.

To change the subject, I’d like to see a video on the production and packaging of Fire Starter.

I am sorry to say that as a computing professional since 1970 (so I am and old bloke), I have developed a significant "dislike" for Apple products. This started mainly because they locked you into their product peripherals and the like, with no user interface choice at all. Also they basically limited the ability to develop interfaces to products, which locked in further to what you could do with their computers. So as a developer and supporter of computing systems for industry Apple was something that we would not or could not consider. I agree with you regarding the "market", and banking to a large extent as it all favors the big institutions and the little person typically carries the can.

IMHO I think you are doing right by buying land. Yes the property taxes never go down but you have a solid asset. You can't eat gold, but you can raise food and harvest meat off the land.

Running your ceiling fan would make a big difference when using the wood stove. Just saying. Good info on inflation. Thanks

Mike, completely agree with the premise of your discussion, but gold did change. In 1966, the US government regulated gold at $35 per ounce. In 1971 the gov deregulated gold and the price per ounce shot up through the roof and now the economy determines the price of gold. Just a clarification point on gold. Hope you are enjoying the Christmas season!

Good morning OWTM community. Have a great day! Steve in Calgary

Add that governments on ALL levels are bloated with internal spending with less services offered to the taxpayer!

I agree..we should get back to the gold standard....don't just print money....

A couple years ago I paid $52k for a F250 XLT, with FX4 package and a few add ons. Right now on TFL off-road they are testing an F250 that costs over $104k. I know it has a lot of things mine doesn't, but it's hard to comprehend adding $50k in accessories, or paying over $100k for a truck. But I guess that will be the norm at some point.

You may not be an expert on gold/inflation, but whenever you speak about the state of the world you consistently hit the mark.

prices go up and so do wages, maybe not on a one to one basis, the thing that bothers me the most is the quality of the items we purchase now, it used to be an appliance like refrigerators, washing machines etc. are so overloaded with gimmicks and plastic parts that they will never last the 25 years or more from the ones we bought in the 60's 70's .... Hard good items like those used to be worth the price.

These numbers are easy for me to remember... in 1966 my parents bought a brand new house for $16,000. My Dad's yearly income was $16,000. One person's income equaled the price of a brand new house. Today a brand new "Starter Home" here in KC would run about $250,000. First time buyers income may only be $50,000 or less. 250% increase in housing since the 60's.

Mike, You have the wisdom and common sense of Will Rogers. Thank you for stating the simple truth in a simple way so we can easily connect the dots without bias and without a hidden agenda. It is great to be great but it is greater just being a human being. Thank You.

This reminds me of President Regan’s favorite line; “I’m from the government and I’m here to help.”

Mike I have done the same calculation many times over my 76 years, the working man doesn't have a chance against the greedy.

The newer vehicles do, indeed, have a lot more technology and utterly useless doodads in them, but that doesn't mean they are any more reliable in getting you from point A to point B than vehicles were in the mid-twentieth century! 🤨

For those of us that are retired inflation is killing us. Electric up, property tax up, natural gas up, groceries up, water up, auto coverage up. Home services are way up along with auto repairs. It's just so out of hand. And they wonder why suicides, drug abuse and crime are up.

You make some valid comparisons and great points that make you ponder on how we got here. There are so many reasons we can point at but the biggest one has to be greed and manipulation of these politicians that are voted into office to serve us? All the good governance and logic is gone ...

Good Morning Morgan Family 🌞- Have a Wonderful and Blessed Sunday 🤠

The price of a commodity such as gold or a home is not just determined by inflation but by supply and demand. 1-2 years ago used cars and trucks increased more than inflation because of the drop in supply. Now they're coming down. Add technological improvements and regulations to the mix. Though drivers at fault are still involved in accidents, cars and trucks are much safer with all the cameras and warnings, even moving an auto back between the lines if one crosses a highway marker and slowing it down, or braking if too close to a vehicle in front. There are so many chips it's like driving a computer with wheels. I applaud all the effort you undertook with the math. Lots to think about (or not when I'm on my tractor or excavator. That's why I love them).

Good morning from North Carolina. I really like these thought provoking videos. We certainly think alike.

A couple things to keep in mind. Precious metals and Land are two consistent long term hedges against inflation. Inflation has existed as long as trade has occurred and will always exist as long as supply and demand exist. What makes inflation so noticeable now is how dramatically prices have increased in such a short period of time. What is also concerning is how high our national debt has climbed. Definitely a topic more folks should be discussing.

Mike This was at Bunyan. Did you see him? Some great ideas for you firewood processors. The conveyer to lift rounds to the splitter look like a back saver. Melissa would love it. Now if someone would come up with a mechanized wood stacking/piling system.

Great subject Mike. I wholeheartedly agree with your thoughts. I always thought of gold as a hedge against inflation. The value only goes up when your dollar goes down. It took me too long in life to figure out the best investments are property and precious metals.

Removing gold as the standard helped to make the country start down the path of decline. We're not worth what we were back in 1966, the year you were born. And with deficit spending and a national debt that I can't even understand, things will not improve. This is the way. Thanks for continuing to point out these things Mike. Todd in NH.

I heard an economist describe it like this, one ounce of gold will buy the same amount of goods now as it did 2000 years ago. Gold is constant in value. Our money is worth less if gold costs more.

Good video, Mike. I believe that the inflation numbers are higher than any numbers that I've seen. Im saying 40 to 50+percent. Depending upon what you buy. You are correct. Paper money's value is going back to Paper values. 0%

Where did you get your torch lighter, the one you use ti lite your fire starter, I would love to get one, thanks.

Mike did you remember that there was a set gold standard of 32$ an ounce in 1966 if I remember right. So gold would fluctuate more according to the demand. I believe the standard was to keep our money value at a certain level.

Morning Mike hope your rifle Hunt is going good. We are done here in Ontario Canada with ours just bow now for a few more weeks. I love that gold is worth that much today cuz that’s the field I’m working in 😊. Have a great day.

Always been a fan of your channel. Very much looking forward to what the channel once was. As of late it's been a whole lot of chit chat and a far cry from where you all started. Will check back again one day as this is no longer the type of channel I enjoy to follow. All the best to you and your family.

There's a lot of people that are probably not going to like what you said, but the truth hurts . I enjoy your content Mike

I really enjoy these conversations Mike. I’ve been trying to learn the market myself and it’s definitely tilted IMO. You’re spot on and I think the majority of us would agree 💯. I stick by my post a few months ago, a monthly podcast would really benefit the channel 👍. I think your followers would jump all over it.

Executive Order 6102 is an executive order signed on April 5, 1933, by US President Franklin D. Roosevelt "forbidding the hoarding of gold coin, gold bullion, and gold certificates within the continental United States."

Nice Asahi gold bar. "If you don't hold it; you don't own it" This is one thing Dave Ramsey is dead wrong on. Stack it high & stack it deep.

Thanks for sharing this information Mike, it was a good walk through time. Stay safe and keep up the great videos. Fred.

Campbell's tomato soup is constant. In 1966 it cost $0.11 per can. Today the price is $1.25. Up more than 11 times.

Mike I always enjoy your explanations on how our country works and why,how and when to do different things to make life a little easier thank you 😮😊❤

Solid work here, Mike! Thanks for the life lesson.

Some of the differences is that confidence in our economy was higher than today and Nixon took us off off the gold standard. High gold prices reflect loss of confidence, and worrying about the future.

Good Morning from Renfrew, Pa! I really like the talk with all the numbers and math, Mike. It brings everything into perspective, even though it is depressing sometimes. I completely agree with you on the stock market issue. The rich just get richer in that system. Pertaining to gold and silver, it has survived all the currency resets over time. A far better way to invest if you were going to do that. I found a great company to do that with! You also physically get your gold and silver in hand! Not placed in a vault somewhere. If you are interested, please reach out! Have a great day!

Trucks, houses and gold have not become more than they were or “worth more”. The currency you use to buy them has been devalued…..

Someday, probably sooner than later, we'll be talking about the good old days of having paper money.

Mike, just a couple things- It’s not a one way street- people don’t need raises cuz inflation, people getting raises causes inflation also. The more liquidity will always cause more inflation. 2. I have been a large scale gold/ silver buyer for 30 years. Don’t buy gold and silver at highs. Only buy on dips, and resell when it goes up above 5 yr norms. I did major silver sells 3 times in 3 decades. Sold at 27 last year. It does not go up consistently, and you can get caught underwater for many years. Buy and sell it for profit, otherwise it’s useless and your just tieing your money up. And if the country actually ever goes broke, as many theorize- it will only be worth what someone can pay- and u can’t eat it.. 3. The stock market is a great tool to build wealth. Buy good companies and dividend payers, and hold over time. I started with nothing, and now trade options every week on my held stocks for premiums. Make more per year than the avg person makes at their job the entire year. Good luck to you-

Silver dollar one ounce in 1850 would buy a bottle of decent whiskey. Gold 20$ one ounce would by a good suit and a pair of boots. Today one oz of silver and gold will buy the same thing. The dollar has lost value due to printing money. This is the best way to understand this total sham. BTW bank. Can loan out 10 times the deposit. 100$ in 1000$ loaned out not exact but close enough to know this is another scam.

I 100% agree that big corporate monopolies are underpaying their workers and not keeping up with inflation just like your gold per yearly income scenario proves.

Mike, I have begun investing in NJ Power Ball! I figure investing just $10 a week will get me anywhere from $300 million to $800 million!! I also figured I’d be about 160 years old when I win!!! I’ve also started eating my vegetables!!!

Mike, well said ! 👍🏼 “Your dollar ain’t sh!t and taxed to no end” Rich north of Richmond Always enjoy your videos

Liked your comments on the market Mike! That's precisely why you should look at free cash flow and EBITDA performance when investing. What a business reports as "profit" can be very misleading and is subject to manipulation. Stock market prices are no less real than the price of a cord of wood...they're both just what someone is willing to pay for the perceived value of the item which in both cases can change quickly and dramatically (what would happen to fire wood prices if the government outlawed wood stoves because they're bad for the environment?). Not trying to convince you one way or another but I did a quick calculation on what a $35 investment in the S&P 500 index would be vs gold in 1966...turns out, the investment in the S&P 500 would net you far more gold for the same period... $8,517!

Hey, So if you have a problem like my neighbors and I been having porch Pirates. I take my old Amazon and Milwaukee Boxes and a few other well-known boxes the neighbor and I load them up with dirty diapers and old kitty litter put them out on the porch what do you know they disappeared in about an hour and a half I'm starting to realize I can save money on my garbage bill

You are right Mike about savers being penalized. Most people do not seem to understand that, which is unfortunate. I thought that way for many years but have learned the truth. That is why about 3 years ago we got completely out of the market. I simply lost all confidence in the market and we have some savings but most of our assets are now in real estate. I feel it is much wiser and safer and it has been a blessing to us as we have assets (properties) that are going up in value (appreciation), plus the monthly cash flow we receive, plus the tax benefits. I hope more folks come to this realization as it will serve them well and is a good hedge against inflation also. God bless.

I'll comment on the woodstove. Same here in CT. Just not cold enough to keep it going. A trick is to just keep the windows open so you can just keep reloading instead of restarting

Mike I hear what you’re saying and I agree wholeheartedly! However, gold is a poor indicator of inflation. If it was then the 100 year chart would be more linear and continually moving upward which it has not. Back in the late 1970’s gold was worth more than it is today believe it or not! In the early 2000’s I was buying gold eagles for $275/oz off eBay of all places. Now that price was under spot at the time but I wasn’t buying from dealers either. I don’t own any gold today as it’s way too of a controlled commodity today and there’s a ton of counterfeit bars on the market.

Scale - One thing people aren't factoring in is Scale in labor. It comes down to Skill or Scale. For Example. You're able to Scale some of your labor into 1 video. Once you spend your time, you're done. The video keeps earning. Scale, Force Multiply etc.... I write code that automate processes. One piece of code I wrote last week eliminated about 1 hour a month off one person. Took me about 8 hours that now saves 12 hours annually. Some code I write can take 40 hours but will save 10 or 20 times that annually, and still use it years later. This is very different than one person cooking one burger to feed one person at the burger joint.

Do you still have the f800 and the250highboy truck? What did you do. With your kubota you owned prior to your partnership with kubota

The consumer economy is the largest driver of inflation. We buy buy buy with money we don’t have.

So I'm 73 and semi retired. We invested after we got married in 2004 and our package was worth over 3/4 million. But with the cost of living we've been drawing that down. With the market tanking it's now less than 1/2 million. Granted we have pensions and SS to help us, but it doesnt keep up with inflation. We probably will be ok to end of life, but it's not a sure thing.

I agree 100% It's a good time to be self employed - you can adjust pricing to match inflation. Looks like bad times ahead.

I like these videos on the economy, politics, the realities of living.

In 1966 I was 18 and turned 19 in October after graduating from High School. Hello Kid, LOL! Vestal High School near Binghamton, NY.

Gold was price controlled until 1974. It was then released and the price was determined by supply and demand.

Mike, spot on with inflation eating away at savings. Cost of living increases for those on Social Security is calculated differently than nationally, and reported incorrectly. 2024 social Security COL increase was reported as 3.2%. However, the cost of Medicare, which is automatically deducted from your monthly Social Security check increased5 5.45% resulting in a net Social Security "increase" of maybe 2.8%. Groceries, Gas, (mandatory expenses for retirees) are up over 25% past two years. Transportation cost is out of site given your new vehicle prices. The used vehicle prices are also impacted as well. As a retiree, I don't want my dollars depleted before my shelf life expires!

Spot on Mile ! I wish you would have picked a different year though, in 1966 I got drafted into the Army and boy it was down hill from there! They gave me quite the asian tour!

Our buying power has also been greatly reduced by TAXES too. What was the total taxes payed in 1966 compared to now?

Land is almost as good as gold in my opinion. They don’t make it anymore lol plus it seems to only increase in value. You can use land to support yourself if needed too, you can farm it, hunt on it, harvest timber etc.

Legally you could not own more than 5 ounces of gold in 1966. Limitation was not lifted until 1974.

Keep Smiling On!! 😀👍👊❤️

Good video, we are being scammed. Here is something kind of off topic. Walmart has a motor craft oil filter Fl 820s for 8.82. Rural king has it for 4.99.

I had the same story today with a good friend. It was an eye opener for her. Gold has not higher value - its the money which looses value day by day......