Dec. 23, 1913 — “I’ll do the deed first,” said the president of the United States, Woodrow Wilson. “And then I’ll have something to say.”
By Byron King — May 13, 2023
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The Dollar’s Lost 99% of Its Value Since 1913
And as the U.S. monetary system stood, this is how things were established on Christmas Eve, 1913, when President Wilson used four gold pens to sign a new law to create a central bank for the U.S., and to help U.S. business better function in a world still working on a classical gold standard.
Now, not quite 110 years later and in no small measure due to long-term efforts of the Federal Reserve, that old $20 American gold coin is worth nearly $2,000 just for the precious metal, let alone the scarcity premium and markup for whatever value may come with numismatic rarity.
In other words, do the math here: Over the past century and one decade, the value of a dollar has declined by 99% if you use gold as the basis for comparison.
Looking ahead, where do things go? Well, we could discuss it all day.
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Penny candy, the nickel cigar, the dime store novel, and three silver dime gas — all represent the counterfeiting of the dollar.
The Dead Old White Guys knew the result of paper money. They had seen France descend into “democratic” chaos as the franc went from a gold hockey puck to thin shirt button.
The rich got richer until the mob chopped off their heads.
Is the USA heading for the same fate?
IDK but at best it might dissolve just like the Soviet Union.
Hopefully, the ₿itcoin or gold might save us from chaos.
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