Why 1907 needed scrip

Enid Buzz posted this ad from an Enid clothing store in 1907.

On account of scarcity of currency reminds us that the Panic of 1907 was a huge but brief Innovative Disruption, sponsored by Innovative Disruptor Edison. Scrip was born in this depression, and resurrected in 1933 when FDR broke the banks to restore the real economy.

The prices also remind us of a difference. Ladies coats ranged from $5 to $30, which would be $100 to $600 in today’s money. These were presumably discounted from the usual prices. We expect to pay considerably less now because we’ve given up our real economy. We no longer pay people to make clothes, which means a very large group of skilled workers are no longer trading their skills for real money that stayed in America. Instead we indirectly enslave Chinese and Vietnamese workers to make our clothes, leaving all the profits in the hands of the robber barons.

NONE OF OUR MONEY RETURNS TO THE PEOPLE WHO SPEND IT.  ALL OF OUR MONEY GOES TO CHINA OR BEZOS.

Slavery by proxy, war by proxy.

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