The Death of the Dollar

August 6, 2010 03:57

Nothing can save our financial system in the long run. It is doomed to collapse. This is inevitable, because our government controls and manages its very foundation — the dollar.

by Vasko Kohlmayer at American Thinker

“The federal government began its takeover of the dollar in 1913 when it established the Federal Reserve Banking System. Prior to that the dollar was a real store of value. In the period from 1783 to 1913 there was a long period of currency stability with virtually no inflation. If you saved one dollar in 1800, your great grandchild could buy roughly the same amount of goods with the same dollar one century later.

In 1913 five dollars could get you the following:

15 pounds of potatoes, 10 pounds of flour, 5 pounds of sugar, 5 pounds of chuck roast, 3 pounds of round steak, 3 pounds of rice, 2 pounds each of cheese and bacon, and a pound each of butter and coffee… two loaves of bread, 4 quarts of milk and a dozen eggs.

In 2010 five dollars barely gets you two pounds of cut chicken meat.”

FULL STORY by Vasko Kohlmayer at American Thinker

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