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-- Posted Monday, 20 December 2010 | | Source: GoldSeek.com
Unlike most Americans who are thrilled by new Xbox games or IPhone apps, econ geeks like me are excited by new economic data discoveries. Recently I found http://www.gti.net/mocolib1//prices/allyrs.html , a web site that has prices in the average US town of Morristown, New Jersey going back to 1900.
It’s a mother load of data from the last 110 years of what typical consumer items have cost in gold or silver backed money before 1971, and fiat bankster fraud money after 71. This 110 year price history shows beyond even the smallest shadow of a doubt the power of fiat money to, with near invisibility, rob Americans blind over many decades. My focus was data from 1913 to 2010, the tragic lifespan to date of America's greatest failure: The Federal Reserve bankster fiat looting system. For example, in 1913 a $20 bill was equal to approximately 1 ounce of gold and would buy you: 100 lbs of chicken, or 57 lbs of coffee, or 1000 eggs, or 133 lbs of beef, or 16 men’s shoes, or 250 bars of soap. In 2010 a $20 fiat paper money bill will buy you: 15 lbs of chicken, or 3.63 lbs. of coffee, or 105 eggs, or 5.01 lbs of beef, or 72% of one mans shoe, or 20 bars of soap. In 2010 an ounce of gold (avg. price of $1220 ) will buy you 732 lbs of chicken, or 221 lbs. of coffee, or 6405 eggs, or 306 lbs. of beef or 44 men’s shoes, or 1220 bars of soap. While the buying power of paper money fell by 80% to 95% the buying power of gold money has increased 250% to 700% when buying many such basic items. It boggles the mind for econ geeks like me to conger just how affluent the average American would be now if we NEVER passed the Federal Reserve act and kept gold and silver coin and redeemable- for-precious-metals note dollars. The difference over the last 97 years is tens of trillions of dollars American consumers have been robbed of as prices went up BECAUSE the value of their fiat money went down. Worse yet, every trillion of fiat dollars created out of thin air bought a trillion of real assets that are owned by, you guessed it, Banksters. There is no doubt, every increase in the total supply of money criminal Federal Reserve banksters have created out of thin air dilutes the purchasing power of the dollar and robs the poor and middle class with monetary-caused inflation. Of course, wealthy people (myself included) are the beneficiaries of monetary inflation because we own assets whose values are inflated. As an example, If bankster caused monetary inflation makes gas prices go up $1 a gallon it can easily cost a poor or middle class consumer $100-$200 a month. However, a well diversified wealthy person, also pays the higher gas tab, but is offset by, big gains in their energy holdings. Every energy price increase even makes solar panels of the affluent more valuable. The bottom line is that bankster-caused monetary inflation is, plain and simple, a nearly invisible looting scheme that robs from the poor and middle to the benefit of the already asset wealthy. Just 5 years ago less than 1 million Americans understood this looting scheme, now at least 50-100 million do. Not only is the criminal Federal Reserve system well on the way to being fully outed, its public enemy #1, Congressman Dr. Ron Paul, author of the best selling book, "End the Fed", is now the chairman of the congressional committee in charge of oversight of the Federal Reserve. There will be hearings about a Fed audit, giveaways to foreign banks, and other looting schemes. It's too soon to tell if the ultra-polite 75 year old Dr. Paul has the stones to go postal on bankster Bernanke and the Fed now that he has the power to grind the Fed into the dirt. If Dr. Paul asked for my advice it would be, it’s a mistake to be polite to monetary criminals in $1000 suits or try to gradually grind them into the dirt. Instead, by any means available, KILL the Fed that’s raped the American people for 97 years deader than a doornail - and do it quickly. "Paul kills Fed dead" needs to be as well known as "Raid kills bugs dead". Michael "Woody" O'Brien ChFC mwoodyo@hushmail.com http://www.facebook.com/#!/profile.php?id=1026276294
-- Posted Monday, 20 December 2010 | Digg This Article | Source: GoldSeek.com
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