Crime of 1873

Categories: Ethics/Morals

There's only one reason to own silver. So you can melt it down into bullets and shoot werewolves.

If you’re looking for a second reason, well...you’re plum out of luck. But silver bugs are still barking about U.S. Grant and his contempt for bimetallism.

Back in 1873, the U.S. Coinage Act signed by Grant left the silver dollar out (the U.S. had been operating on a silver standard in the early part of the 19th century). This was called a "crime" because it made it impossible for silver owners to convert their shiny metal into legal tender. Historians argue that it was the catalyst that led the U.S. to adopt the Gold Standard, which remains the single dumbest economic idea (after communism).

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