Yup, $20 used to buy an ounce of gold. Now it takes over $1,300 Federal Reserve Notes to buy an ounce of gold. The dollar is still a trade item, but it is not a reliable store of value.
things do start to head north after FDR removed the gold standard and then it really takes off after the "Great Society" junk brought in by Johnson.........
Would be interesting to see this overlayed with a graph of population and workers wages adjusted to inflation.
What do you expect to happen when currency is produced out of thin air? Inflation. This is like 6th grade economics.
The Creature From Jekyll Island.... And removal from the gold standard... Two BIGGEST screw-ups....ever!!!!
when i was 13 i read in playboy(yes..i read playboy & looked at the girls!!! wasn't i supposed to!!) about the bankers & politians doing away with the gold standard!!! instead of going to the bank w a gold or silver note & getting an ounce of gold for a $20note the feds would "hold it for us"!!!! hey Obama & the rest of ya asholes... how's that working out for ya????
Matt 6:24 “No one can serve two masters. Either you will hate the one and love the other, or you will be devoted to the one and despise the other. You cannot serve both God ... and money.
yes, it's called inflation...it means the elites found a new method to siphon off wealth from the underclasses. In theory, which is really false propaganda, it's just the nature of the economic model that prices will rise and everyone will have to pay more. The reality: wealth is removed from the poor and the wealthiest receive that, which more than pays for any increases they see plus far more, as the owners of the corporations that rake in the profits.
Dropping the gold standard and embracing the federal reserve, two biggest kicks in the nuts to working people ever.
Stronger evidence exists that removing the gold standard causes inflation than exists to support climate change Guess which one the govt wants to fix
The Federal Reserve is quite simply a bank. They thought about calling it The Bank of the United States of America and then thought better of it disguising it with the name of The Federal Reserve.
CPI driven by consumers and consumption. Big consumption not really in the picture until after Great Depression and WW II.
Nixon took us off the gold standard in 1970s That let the FED turn the printing presses into overdrive.
I can see the the exponential growth starts way back in 1913, but the graph doesn't really start to take off until about 1970. I wonder if it is really Nixon's fault for closing the gold window in 1971?
This is a shame they steal and steal and cant get enough money no matter how much the taxpayers give them!
That's exactly what it looks like. Look at how much it spiked during the 70's which is when the last remaining ties to the gold standard were cut.
the dollar was on the GOLD STANDARD from about the 1820s till 1920 and that's when this mess began... >:( >:O
There have been MORE and DEEPER "corrections" since the Fed came into existence than before. The Fed was supposed to "smooth" out the economy so there wouldn't be downturns. ANother government program that has worked so well.
Paul you are comparing monkeys and hand grenades. Anything built for war is built for the express purpose of destruction, electronics (not just VCR's) are designed for another purpose then the destruction of other peoples property...
I used to tech on military avionics at a manufacturing plant. That stuff is designed not to be fixed or reverse engineered. Not a single component has part a number or value on it. If you miss-placed any component while repairing it becomes scrap because you don't know what it is.
I still fix some stuff. Now days you gotta use tweezers and a magnifying glass to handle those surface mount components.
This chart actually shows the dramatically falling value of the dollar, not the cost of goods in real value.
It's not only Tax Payers, but all users of a nation's currency, that are being robbed by a nations deficit spending. The paying of Taxes is evidence, of earning without equal extraction of subsidies; evidence of producing MORE than what is needed for himself alone. How has this become a negative? When one produces more than he can or desires to consume, that which is left over, is added to the true social wealth. It is this surplus that creates wealth, increasing the standard of living for all. It is the poorest, who's only asset is the currency in their bank account; those who's future is singly reliant upon their contracted wage and the false security of social security, that feels the greatest pain from the inflation of the monetary supply. Yet I see these people advocating for more and more pain. It is beyond reason.
Hmmm. You've not given this issue very much critical thought. If the supply of currency were static, how might it be possible for the prices on all goods and services to rise simultaneously, and continuously, for the last 70 years? The only way this is possible is with increases in the supply of money.