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<p>[QUOTE=&quot;jolumoga, post: 26769994, member: 41780&quot;]Bzzzt! According to ChatGPT, around 1925 the average American had about $100 in savings - the middle class may have had more. This seems plausible given the wages in those times (annual income was $1200-1500 - other sources put it at $5,000, which seems a bit dubious as that would be almost $100k today, but I digress - oh, Perplexity gives a median at $3,800). Because the money was gold-backed, this meant the average American had 5 ounces of gold stored by the bank. This was their money by law. Sure, they did not physically have possession of this gold, any more than a typical investor doesn&#039;t hold physical stock certificates when they click to buy a stock online today. But not having physical possession does not mean you don&#039;t have ownership - sort of like how we may owe money to a creditor, but it&#039;s still money owed to them even if we have it in our possession right now. So, when the gold standard was broken, the gold was stolen. And Congress signed off on this.[/QUOTE]</p><p><br /></p>

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