We’ve Been Impoverished and It’s Only Going to Get A Whole Lot Worse
December 30th, 2011
The dollar is losing value, but this fact is not just some recent phenomenon. In case you missed the charts comparing the decline of the US dollar to the Roman silver denarius, what they show is that the US dollar has, over the course of the last one hundred years, experienced a steady decline amounting to about a 95% loss in purchasing power, closely mimicking the fall of the world’s reserve currency circa the 2nd and 3rd centuries.
Every single day our central bank and the US government utilize the stealth tax known as inflation to make you poorer by increasing your cost of living. It’s so subtle that most Americans don’t even notice – or care.
In just the last decade alone, Brits have lost about 43% of their purchasing power for the most essential of all goods – food and energy.
Ordinary families have been crippled by the rocketing cost of essential goods over the past decade, a report has found.
The price of basic purchases, such as food and fuel, soared by 43 per cent over the decade from 2000.
These rising costs – far above general inflation – have already wiped out most of the gains in living standards made by families on low and modest incomes in the early 2000s, before the downturn began, according to research.