Funny Quote from Our Former Commander in Chief...

[OtlFrutiger]

July, 23 1965:

“If anybody has any idea of hoarding our silver coins, let me say this. The Treasury has a lot of silver on hand, and it can be, and it will be used to keep the price of silver in line with its value in our present silver coin. There will be no profit in holding them out of circulation for the value of their silver content.”

—President Lyndon B. Johnson

 

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[fistfulladirt]

Too bad our 36th President Mr Johnson didn't live long enough to see a silver coin's value spike to close to $50 an oz in 1980.

 

[50cent]

he wasn't being serious, he was just trying to be funny

 

[GrizLeeBear]

It was said over 50 years ago in a different time and context. I remember the silver conversion. It was a confusing time. In the end, the masses said a dime is a dime and the change went over smoothly. That said, I've known a number of people who have held that silver all these years. They would have done much better in the stock market with compounded returns.

 

[50cent]

It was said over 50 years ago in a different time and context. I remember the silver conversion. It was a confusing time. In the end, the masses said a dime is a dime and the change went over smoothly. That said, I've known a number of people who have held that silver all these years. They would have done much better in the stock market with compounded returns.

ACTUAL image of him regretting the coinage act of 1965, "facepalm".


what is going through his mind is kinda like the ending of the bridge over the river kwai, "my god.......what have I done?"

 

[oooldman]

I am sure the Hunt brothers would agree

 

[GlenDronach]

Ahhhh....fiat currency.

If only LBJ wasn't tainted with a lot of unpopular decisions, including this one.

 

[D1MES_101]

They should have filled his coffin with clad quarters and dimes for making our coinage worth nothing