Death of the Dollar
By Rense Johnson, Chairman, Citizens for Term Limits
Now I want to talk to you about the destruction of our Dollar. I want to ask everyone here, individually, to pick a Dollar number. How much more would it cost to hire an unskilled laborer today than it cost in the year 1913? In other words, how much value has the Dollar lost in the 90 years between 1913 and 2003?
I picked 1913 because of two significant events that occurred in that year — the Income Tax Amendment and the creation of the Federal Reserve system. The cost of an unskilled laborer was chosen because it can’t be manipulated by the government the way the CPI has been.
Wanna know the answer? To hire that 1913 unskilled laborer today (if he were still alive ) would cost 840 times what he would have cost in 1913. That’s right. Our 1913 Dollar has shrunk to one-eight hundred fortieth of a Dollar today. (1/840) That means the 1913 Dollar has lost more than 99.9% of its value, leaving us with less than a penny remaining of that 1913 Dollar.
http://www.eh.net/hmit/compare/ — From a Speech by RJ to the Oklahoma City DAR, 11-13-04
