Thursday, February 21, 2013

US Dollar vs Gold Chart

This graph shows the remarkable devaluation of the US Dollar.
Look how drastically the value of the dollar falls after President Nixon took us off the gold standard in 1971. This illustrates perfectly why saving dollars is a poor idea. why would you hold onto something that continues to lose value every year? This explains why the previous quote from Thomas Jefferson is so very true. In 1913 the Federal Reserve was created and given the authority to issue currency and since then the savings and wealth of Americans has been eroded nearly to the point of non existance.