scandinaviany3
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Interest devaluation tool on gov site
- Thread starter scandinaviany3
- Start date
thechitowncubs
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Pompous criminals.
nate895
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It is bad too, if adjusted for the price of Gold, according to this site, the purchasing power of the dollar has increased almost two-fold in relation to the value of the dollar. That is simply not the case.
$20 in 1913 is one ounce of gold, and according to their formula, $429.14 in today's money. Whereas an ounce of gold costs you $870 today. So, their formula is obviously wrong because things that used to cost $20 back then (such as a full suit), cost around $800-900 now. The dollar cannot buy what an ounce of gold can. Of course, that might be because people didn't trust dollars due to fractional reserve banking back then, making the money worth less than if people has confidence that a $20 note was, in fact, backed up by a $20 gold piece somewhere.
$20 in 1913 is one ounce of gold, and according to their formula, $429.14 in today's money. Whereas an ounce of gold costs you $870 today. So, their formula is obviously wrong because things that used to cost $20 back then (such as a full suit), cost around $800-900 now. The dollar cannot buy what an ounce of gold can. Of course, that might be because people didn't trust dollars due to fractional reserve banking back then, making the money worth less than if people has confidence that a $20 note was, in fact, backed up by a $20 gold piece somewhere.
roho76
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Funny you mention this. That was the first thing I checked.
