VANCOUVER ( Silver Gold Bull) -- It is common knowledge the U.S. dollar has lost approximately 98% of its value since 1913. That was the year the Federal Reserve was given a monopoly to print all U.S. currency, In exchange for that colossal privilege it was given a statutory mandate to protect the value of the dollar.
How/why has the Federal Reserve been such a total failure in its statutory mandate? The most obvious reason is these private bankers never had any intention of protecting the value of the dollar. As I explained in
Naturally, the other corporate oligarchs are wholeheartedly in favor of this institutionalized program of theft-by-currency-dilution since they are also big winners. As the value of these paper currencies are (deliberately) destroyed by banker over-printing, the inevitable (and immediate) consequence is that the wages of all workers are rapidly driven lower in real dollars.
Regular readers will recognize the chart below, showing how (in real dollars) the average wages of U.S. workers have been falling steadily/rapidly for over 40 years. The result is that average U.S. wages have fallen by