Audit the Fed - Harry Reid exposed. Epi#4

Federal Reserve

Auditing the Federal Reserve is a concept strongly supported by Libertarians and Ron Paul. Find out what Harry Reid is doing to stop the Bills progress. Read the press release here.
http://www.reid.senate.gov/contact

http://www.gpo.gov/fdsys/pkg/BILLS-112hr459eh/pdf/BILLS-112hr459eh.pdf

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1 Chart that says it all. What 40 years of a Fiat currency has done

Federal Reserve

wages

I think this chart eloquently sums up the cost to a society of a fiat currency. In it you see that as time goes by, thanks to technological advances the productivity of workers steadily increases. You would expect that productivity to eventually flow through to the workers of the nation in terms of higher real wages. That is what happened up until Nixon cut any ties to the pseudo gold standard in 1971. From that date the US has had a purely fiat currency.


The result: For 40 years the Federal Reserve System has confiscated the improvement in wages through inflation.

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