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From 1776 to 1912 (136 years), the value of the dollar, relative to the Consumer Price Index, increased by 11% ... After the Fed's creation, from 1913 to 2008 (95 years), the value of the dollar, relative to the Consumer Price Index, decreased by 95%

The article goes on to argue that "The Federal Reserve System is fraudulent. Whatever its stated purpose, its effect is to create a hidden mechanism of deficit spending by politicians, through the insidious invisible taxation of monetary debasement (inflation)." However, I disagree.... Having studied what the stable monetary policy from 1776 to 1912 did ... and what the unstable monetary policy of the Federal Reserve from 1913 to 2008 has done ... Its clear to me, it is much preferable to have the unstable monetary policy ... our economy during the second period of time has been far superior by an order of magnitude than the economy before the federal reserve. Thus the slow debasement of the dollar (95%) over the last 95 years has been *good*, and to the benefit of America.

The article goes on to argue: "The Federal Reserve System is fraudulent. Whatever its stated purpose, its effect is to create a hidden mechanism of deficit spending by politicians, through the insidious invisible taxation of monetary debasement (inflation). With printed money, the Government can buy services for its voters before the effects of inflation are felt. The voters money buys less the following year, as the new money has raised prices, and they are often none the wiser." My comments on this are at Hope for America: I don't agree. Having studied the economy of this country from 1776 to 1912, and from 1913 to 2008, it is quite clear to me that the overall economy has been much better off in the last 95 years. Thus, although the currency has been debased (95%) in 95 years, this is what we want ... a slow debasement of the currency, it helps the economy overall. The real risk these days, is we are heading to a fast debasement of the currency, and are likely to hit 10% to 20% inflation in a few years. That would be truly bad [Though not as horrible as another great depresssion, which would probably happen if we were not printing money as fast as we are these days].

""I need a clear-cut purpose if I'm going to get hurt out here or if I'm going to die.""