Hope you are well. Today I want to talk with you about currencies, specifically the devaluation of the U.S. Dollar.
In 1970, minimum wage $1.45, doctor’s visit $5.00 = 3.44 work hours.
In 2017, minimum wage $7.25, doctor’s visit $150.00 = 20.69 work hours.
In 1970, minimum wage $1.45, cost of a gasoline $0.25/gallon,
1 work hour purchased 5.8 gallons.
In 2017, minimum wage $7.25, cost of a gasoline $2.68/gallon;
1 work hour purchases 2.7 gallons.
Let us consider:
$1 U.S. Dollars = $20 Mexicanos Pesos
When we consider that those $20 Mexican Pesos are really $20,000; because the Mexican peso dropped the last three zeros to facilitate transactions which were made cumbersome and impractical by the big figures.
Perhaps in reality the dollar is in the same situation, except the currency has never added the three zeros, to then drop them later.
$1,000 dolares =$20,000 pesos
$1 dolar = $20 pesos
The dollar’s devaluation maybe more profound than what it seems on the surface.
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