We all keep hearing how minimum wage is never enough and prices keep going up. Why? Devalued money is why. Our dollar is based on debt not actual value. Remember when a dime was a dime’s worth of silver? Me either I wasn’t born yet. We just grew up with this federal reserve fiat money. What value the government gives government can take away. The more you print with no value to back it up the less it’s worth. That means it takes more to buy the same product than it used to. Thomas Jefferson warned us of this :
“I believe that banking institutions are more dangerous to our liberties than standing armies . . . If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] . . . will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered . . . The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.” — Thomas Jefferson — The Debate Over The Recharter Of The Bank Bill, (1809)
Here’s a cool US Inflation Calculator. See for yourself
This week in history was a bad week for the private ownership of gold. On August 28, 1933, President Franklin Delano Roosevelt issued an executive order prohibiting the “hoarding” of gold by Americans. Private citizens were required to surrender any “gold coin, gold bullion, and gold certificates” they owned. The order also placed limits on the export of precious metals.
–SNIP– The printing presses have never stopped since.
Read more by Chip Wood at Personal Liberty
What’s really in your wallet?
YouTube, 4:11, http://www.youtube.com/watch?v=hTWSJGxOVLY
Thomas Jefferson and Andrew Jackson understood “The Monster”. But to most Americans today, “Federal Reserve” is just a name on the dollar bill. They have no idea of what the central bank does to the economy, or to their own economic lives; of how and why it was founded and operates; or of the sound money and banking that could end the statism, inflation, and business cycles that the Fed generates.
Video by Mises Media (Ludwig von Mises Institute) at http://www.youtube.com/watch?v=YLYL_NVU1bg