Tuesday, September 01, 2009

The power of the Federal Reserve

(Via Random Nuclear Strikes)

After the Fed’s creation, from 1913 to 2008 (95 years), the value of the dollar, relative to the Consumer Price Index, decreased by 95%. A dollar could buy 95% fewer goods in 2008 than in 1913. Thus, if in 1913, you sat on your savings pile of $1,000,000 for 95 years, it would then be worth only $50,000 in purchasing power.

Nah...there's no reason to audit the Fed or return to the gold standard. None at all. Now you just trot off to your government approved house and your government approved pay rate, little prole boy. Never mind the man behind the curtain.

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