$1,000,000 In 1910 would get you 7619 ounces of gold, compared to 802 ounces today – a 98,3 % decline in purchasing power. Between 1800 and 1930 the price of an ounce of gold moved between 19 and 23 dollars.
The disappearance of the Gold Standard and allowing it to be traded publicly is what cause this.
But the creation of the Federal Reserve was still a bad idea.
And come off it with the Glen Beck blame. Selling gold is just an advertisement that pays for Glen Becks show.
The same way GE supports Obama.
the collapse of the gold standard in the 70’s + the printing of money + fractional reserve banking (with close to 0% reserves)
Because fiat money eventually reaches it’s true value of zero. I think an economist said something like that. I can’t remember who.
That puts inflation at a bit under 1% a year, sounds pretty good to me.
…maybe you are not aware of the problems of deflation?
Because that is how the ruling class lives like a parasite, feeding off of the rest of us.
You better learn to like it or people will start to think that you’re crazy.
Well it’s more like since we got off the gold standard isn’t it?
Because liberals ruined our economy with their entitlement programs and laws.
Glenn Beck’s blatant shilling for Goldline.
(It’s called “humor”. Try it, you’ll like it.)