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I'm at a loss to call this article shamelessly misleading or idiotically misleading. It actually says that the dollar hasn't lost 97% of its value because if you had bought a treasury bill with that dollar you would have earned interest on it. One wonders why you can't say that the dollar has lost all of its value since if you had bought a ham sandwich with the dollar in 1913 the sandwich would now be worth nothing at all.
To belabor the obvious, once you've traded a dollar for something you no longer have the dollar, you have something else. Like if some basketball team traded me for Lebron James, it wouldn't mean that my production as a basketball player would have become anything other than zero just because Lebron James continued to be a superstar.
A static, Federal Reserve Note paper money piece tacked to a wall in 1913; never being used to purchase anything since, would not buy much today. This simple statement would be true. The article is wishy-washy, IMHO; as to a clear comparitive of values of paper money. Don't have more time today for thoughts with this; although there are many examples of the true individual value that could be available today from a $1 paper bill that was properly invested in 1913, to date. Regards, Catch
Comments
To belabor the obvious, once you've traded a dollar for something you no longer have the dollar, you have something else. Like if some basketball team traded me for Lebron James, it wouldn't mean that my production as a basketball player would have become anything other than zero just because Lebron James continued to be a superstar.
The article is wishy-washy, IMHO; as to a clear comparitive of values of paper money.
Don't have more time today for thoughts with this; although there are many examples of the true individual value that could be available today from a $1 paper bill that was properly invested in 1913, to date.
Regards,
Catch
1 divided by 25 equals 4% or 96% loss.
Calculator: (Purchasing Power of Money in the United States
from 1774 to Present)
measuring worth
Article:
explaining_measures_of_worth
This website prices everything in grams of gold:
http://pricedingold.com/sp-500/