The Federal Reserve’s First 100 Years: A Dismal Record

Dan Ferris reports:

As you can see, the Fed’s first century was a century of ruinous inflation. What cost $1.00 in 1913 cost you nearly $23.00 by 2012. In fact, in all ten decades after the Fed’s creation, the U.S. dollar bought less than it did in 1913.

The record is clear. The century prior to the Fed, despite setbacks, was a century of improvement in the dollar’s value. The century after it, despite enormous gains in productivity, was a century of rampant Federal Reserve destruction of the dollar’s value.

Central banking means inflation.