The consumer price index over time in the US, note the creation of the Federal Reserve, and the subsequent change of pace. Also note the subsequent change of increase when the gold standard was completely removed from the US Dollar in the early 1970's. H/t ZeroHedge
Increasing prices as related to an increasing currency without a commensurate increase in wages? Check.
A currency increase unrestrained by any backing requirement? Check.
A currency quadrupled in quantity over the past 10 years and not yet reflected in this chart? Check.
Dire consequences to follow? History says, Check.
Increasing prices as related to an increasing currency without a commensurate increase in wages? Check.
A currency increase unrestrained by any backing requirement? Check.
A currency quadrupled in quantity over the past 10 years and not yet reflected in this chart? Check.
Dire consequences to follow? History says, Check.
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2 comments:
Look at that corner from 1973 where Nixon de-linked the dollar from gold to prevent the French from pillaging Fort Knox. Ouch!
Might show up differently on log scale, but YOWCH.
Yeah, the hockey stick from the Bretton-Woods agreement is remarkably severe.
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