(Specifically - the dollar in 1913 - is now worth 3 cents - and we never had a clue why it is so, do we? Duh! - CL)
Read it all:
https://www.lewrockwell.com/2025/05/no_author/the-magic-trick-2/ And yet, the Fed’s illustration can be regarded as effective. After spending several minutes taking in the above complex relationships, an individual would be unlikely to ask, “What did they leave out of the illustration?”
Well, what’s missing is the Fed itself.
As stated above, back in 1913, one of the goals in the creation of the Fed was to have an entity that had the power to create currency, which would mean the power to create inflation.
