Tuesday, August 30, 2011

Breaking the Code — It's All About the Coming Collective

SEE HERE Pat Buchanan cites Lenin through Keynes on the matter of debasing the currency. Floating more and more money which isn't matched by work causes prices to rise because it makes money worth less. That's called inflation. Inflation is simply the debasing of the value of the money supply. Kings used to do it by such measures as adding base metal to the mix and expecting the resulting adulterated coin to trade at the same value. The Fed has been in charge of the U.S. currency system since it was created in 1913 INFLATION CALCULATOR $20 in 1913 would buy goods and services that today would cost $456.41 for a total factor of 22.82 or another way of expressing it would be that a $1.00 today would only buy the services that 4.38 cents would buy in 1913. Thanks Federal Reserve, for nothing and that's how much we'll have if this kind of thing continues.

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