Thursday, January 12, 2012

Is rampant increasing prices (inflation?) imminent in the united states?

in 1971 the united states went off a gold backed currency to a completely fiat currency, similar to that in germany's weimar republic and zimbabwe. since then the federal reserve has printed trillions of dollars worth of unbacked currency. a gallon of gasoline has increased from about .25 to about $2.75. a cup of coffee has gone from .10 to about $1.00. and yet the united states congress does not complain about all this unbacked currency.

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