🚨 #INSIGHT : The Gold Standard and Rising Costs of Campbell’s Soup

🚨 #INSIGHT: The Gold Standard and Rising Costs of Campbell’s Soup

📌 #Economy | #Inflation

• What Happened:
• A man highlights how Campbell’s Soup used to cost just $0.10, but after the U.S. dollar was removed from the gold standard, prices steadily rose to over $1.50 today.
• He links this rise to inflation and the diminishing purchasing power of the dollar since 1971, when the dollar’s tie to gold was severed.

• The Positives:
• The gold standard once provided stability in currency value, keeping prices more consistent over time.
• It limited the government’s ability to print excessive money, reducing hyperinflation risks.

• The Concerns:
• Since the removal of the gold standard, the dollar’s purchasing power has dropped significantly, with wages often struggling to keep pace with inflation.
• Prices for everyday items like soup have skyrocketed, forcing Americans to stretch their budgets thinner than ever.

Shred’s Take:
“Campbell’s Soup is just the tip of the iceberg. Removing the gold standard gave the government a blank check to print money, and now every dollar buys less than it did decades ago. Inflation isn’t just an economic concept—it’s robbing everyday Americans blind.”

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