A century ago,l people also only made $1 for a day’s work. You can’t compare the two.

I agree. End the fed!

@ Scott B…No people were being paid more than $1 in their work week. If you’re going to make up things, at least make them believable.

it would be more awesome if you actually offered a solution to the problem and a way to stabilize our currency, but you didn’t, because you can’t, because there isn’t one

OF course there’s a SOLUTION!

JFK was implementing it when he was bumped off by THUGS!

His directives STILL STAND. He was abolishing the CRIMINAL

"Federal Reserve", which is neither "federal" nor has any

"reserves"! Kennedy was issuing "United States Notes";

Constitutional currency ISSUED BY CONGRESS, free of debt!

Once in awhile you still find a debt-free Kennedy "United States

Note" They are easy to spot. Across the top of the bill instead

of "Federal Reserve Note" it will say "United States Note".

Without the ILLEGAL burden of debt placed upon our money by

Federal Reserve CROOKS, we pay no interest to them, thereby

negating the need for most of our INCOME TAX to go toward their

bogus "debt". Can you imagine how the mighty ENGINE of

American INGENUITY would spin into HIGH GEAR if all those

funds were available for INVESTMENT? It WILL WORK!

Monetary theory actually promotes that a little inflation is good for the economy.

How?

As an example, let’s say you had a $100 in gold and $100 in paper currency.
And you knew that the Fed was going to target inflation at 2-3% per year.

So you put the $100 in gold in a drawer because you know it will retain it’s value. But how about that $100 in paper currency which is diminishing in value a little every year? For that you invest into a 10-year CD.

Now that $100 you invested in a CD re-enters the economy. It is loaned to someone who buys something, who buys something else. In a year, that $100 will generate $500-$700 in economic activity. In other words, 5 to 7 people will get a product or services worth $100 each.

Now let’s look 10 years down the road.

You pull out your Gold and now it is worth $130. Woo-hoo! And you cash your CD for $130.

So your gold retained it’s value. But it did nothing for the economy. It just sat there.

Your $100 cash? Over 10 years, it generated around $6000 in economic activity. You could say that $6000 in wealth was created as each transaction meant someone sold and received something of $100 each time.

So from a monetary policy objective of wanting to stimulating the economy, you actually want a little inflation so people are incentivised to invest their money.

Similarly, deflation rewards people for stuffing their money in a mattress.

And having no inflation removes the incentive to spend and invest.

Makes sense?