The Federal Reserve Robs You of Your Wealth (Unless You’re Already Rich)
With costs soaring across the board, inflation is spiraling out of control.
It’s almost entirely the Fed’s fault that both your buying power and wealth have been sapped ever since the Federal Reserve was established in 1913.
In fact, just $1 of buying power in 1913 is equal to $27.25 today. Conversely, this means one of today’s dollars would buy less than 4 cents of 1913’s goods and services.
You can see how the dollar’s buying power has evaporated over the last century below:
A 1913 family might go to the grocery store and stock up for the week, spending $10 dollars. Today, that same cart full of groceries would cost $273.92, or possibly more, depending on what you like to eat. Different foods rose in price at different rates, from “only” 418% for eggs to a mind-blowing 8319% for potatoes.
But that’s ancient history, you’re thinking. Sure it would be nice to go back in time and spend less on groceries, but we make more money now. So what?
The Federal Reserve and the price of food
The Fed’s primary purpose is to promote a strong U.S. economy, which of course sounds great.
But their record of achieving those goals, though? Spotty at best.
As Brian McGlinchey puts it, “For much of its 108-year history, the Federal Reserve had either an implied or explicit mandate to preserve the value of the U.S. dollar—and it failed spectacularly.”
The phrase “preserve the value of the U.S. dollar” means the opposite of inflation. Preserving the dollar’s value makes foreign imports more affordable to American buyers and encourages other nations around the world to buy and hold dollars in their central banks. Preserving the dollar’s value means you can save money without worrying about its buying power fading into irrelevance.
Instead, today’s Federal Reserve “buys” the debt issued by the federal government to fund its spending by creating new money. These brand-new dollars dilute the value of all other dollars already in circulation, meaning prices go up, meaning inflation.
The Fed’s interventions in efforts to maintain a strong U.S. economy are mostly responsible for the incredible loss of buying power, and that’s the force that corrodes your savings.
The Federal Reserve’s inflation is a tax that no one voted for, and everyone pays.
Fed Chairman Jerome Powell wants to turn a blind eye toward inflation. But gasoline prices have increased 49.6%, overall CPI jumped 247% in just 3 months, and food prices are still rising past levels not seen since 2014. Overall we’ve seen at least a year’s worth of inflation in just four months.
The words “failed spectacularly” seems like they only begin to describe the Fed’s recent performance.
And when the agency who’s in charge of how much your money is worth fails spectacularly, there are consequences.
There are some things inflation can’t touch
As the Fed has pumped money into the economy for the past 15 years, gold’s price has more than doubled.
Zoom out 100 years, and while the dollar’s worth has all but disappeared, gold has maintained a steady store of value. That same safe, secure, reliable reputation as an internationally-accepted asset has lasted for thousands of years.
Today, one of the best ways to move into gold and silver is to convert your IRA or 401(k) into a “Self Directed” Gold IRA.
While you still can: Get a no-cost info kit on gold, and the IRS Tax Law to move your IRA or 401(k) to precious metals – with NO tax consequences.
Get your no-cost info kit on gold here. There is ZERO cost and ZERO obligation to you – we’ll even pay for shipping.
This free 20-page “insider’s” kit on Gold reveals precisely how this IRS Tax Law works, and how you can start moving your IRA or 401(k) as soon as today… without paying any taxes on the transfer. It’s all explained in this free info kit on gold.
Again, if the Fed keeps magically making new money, it probably won’t end well for most of us.
That’s why you need to get one of these info kits today – click here to get your free info kit now.