T1B

August 15, 1971.


Dick Nixon announced, as Wikipedia puts it, that the United States
unilaterally terminated convertibility of the dollar to gold.



Nixon: ... building the new prosperity...

bwaaa...


We got greased by this shitbag.




$1.00 in 2010 had the same buying power as $0.18 in 1971

http://www.dollartimes.com/calculators/inflation.htm




Discuss.

Yeah, that damned old inflation has just been killing us for the past 30 years.

pork bellies

Roach wrote:Today a cent has more than $.01 worth of aluminum in it

Uhm... the actual number would be "exactly $0.00 worth of aluminum."

Dinsdale wrote:

Roach wrote:Today a cent has more than $.01 worth of aluminum in it

Uhm... the actual number would be "exactly $0.00 worth of aluminum."

Good thing to because the acid in a vinegar or citrus based marinade can break down the aluminum and possibly spoil the flavor.

Mikey wrote:Yeah, that damned old inflation has just been killing us for the past 30 years.

August 15, 1971 was 40 years ago.


Anyway...

The average yearly inflation from 1914 to 1971 was 2.45%.
The average yearly inflation rate from 1971 to 2010 was 4.34%.

Which is better for us?

But much more damning than that is the fact that our national debt in 1971 was 400 billion dollars.
Now it's 14.5 trillion dollars.

Gettin' off the gold standard is fuckin' TITS, man!!

Just print up a bunch of jack to pay for shit you couldn't afford to buy.

Don't you wish YOU could do that?


Only the fed can 'legally' conterfeit.