I wonder what the Russian Ruble would like in a similar comparison.
And that's by the "official" inflation rate, which hasn't been anywhere near correct since about 1984.
Precisely. The dollar has lost over 98% of it's value since the Fed was created.
In 1974 the CAN$ was worth more that US$ because Canada held gold to back our dollar. Can't remember but there was a set amount of ounces of gold for each Canadian. Then P. Trudeau squandered it all.
If we (the USA) didn't have the FED; what would we use? Not a snarky comment; just genuinely curious. And how would we "back" it?
I wonder what the Russian Ruble would like in a similar comparison.
ReplyDeleteAnd that's by the "official" inflation rate, which hasn't been anywhere near correct since about 1984.
ReplyDeletePrecisely. The dollar has lost over 98% of it's value since the Fed was created.
DeleteIn 1974 the CAN$ was worth more that US$ because Canada held gold to back our dollar. Can't remember but there was a set amount of ounces of gold for each Canadian. Then P. Trudeau squandered it all.
ReplyDeleteIf we (the USA) didn't have the FED; what would we use? Not a snarky comment; just genuinely curious. And how would we "back" it?
ReplyDelete