Business Insider brings the best Infographic on the Federal Reserve. These things are big, so the best way to read that is to go there.
The Fed is charged with maintaining the value of the dollar by keeping inflation in check. I say this data shows they have completely failed and we'd be better off without them. That implies going back to a commodity standard, like gold - which happens to be mandated by our constitution.
I just wonder if there's any gold left in Fort Knox.....
ReplyDeleteYeah, that is one of the big questions, isn't it?
DeleteIf you extend the 'value of the dollar' chart back to 1800, lots of interesting facts expose themselves.
ReplyDeleteThe most interesting is stability of value in the periods where there is no national bank or excessive war debt.
Your segment in the 20th century shows clearly where Federal Reserve policy killed the monetary recovery after the crash of 1920; and how policies after the Bretton Woods agreement destroyed the remaining value of our money.
Cheers,
Hans
... in the NC woods
Hans - if you go to the last link in there, it's to something I wrote last winter on whether or not we could go back to a gold standard. There's an Excel chart I did that goes back to 1800, and then some newer data.
DeleteGood stuff, Mr Graybeard ... thanks.
DeleteHans