The Federal Reserve system was created in December 1913 with the stroke of the pen by then President Woodrow Wilson.
Since that time, consumer purchasing power has fallen from $1,000 in December 1913 to … $40 today.
Since 2007, the purchasing power of the dollar continues to fall along with average hourly wage growth YoY.
Thanks a heap, Woody.
Courtesy Anthony Sanders for Confounded Interest blog via Zero Hedge (More Zero Hedge articles Here)
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