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<p>[QUOTE="WingedLiberty, post: 1153690, member: 26030"]Here is a 2002-2011 U.S. Dollar value chart compared to a basket of World paper currencies.</p><p>The Dollar has lost almost 40% it's value (compared to other World paper currencies) in the past 9 years.</p><p><br /></p><p>[ATTACH]119377.vB[/ATTACH]</p><p><br /></p><p>What this chart doesnt show is the devaluation of the entire system of paper currencies (the Dollar and the other fiat (unbacked, print as much as you want) World currencies) against a physical store of weath like gold and/or silver. In that case, the dollar has lost 80% of it's value in the past decade.</p><p><br /></p><p>For Gold:</p><p>In 2001, it took 240 U.S. Dollars to buy 1 oz of Gold.</p><p>In 2011, it takes 1,475 Dollars.</p><p>In other words, it takes six times (6x) more dollars to buy 1 oz of gold using 2011 dollars vs 2001 dollars.</p><p><br /></p><p>For Silver: </p><p>In 2001, it took 4 U.S. Dollars to buy 1 oz of silver.</p><p>In 2011, it takes 40 Dollars.</p><p>In other words, it takes ten times (10x) more dollars to buy 1 oz of Silver using 2011 Dollars vs 2001 Dollars.</p><p><br /></p><p>So if you had kept the price of silver fixed at $4 an ounce for the past 10 years, your dollar would only be worth 10 cents</p><p>(10%) of it's value from 10 years ago.[/QUOTE]</p><p><br /></p>
[QUOTE="WingedLiberty, post: 1153690, member: 26030"]Here is a 2002-2011 U.S. Dollar value chart compared to a basket of World paper currencies. The Dollar has lost almost 40% it's value (compared to other World paper currencies) in the past 9 years. [ATTACH]119377.vB[/ATTACH] What this chart doesnt show is the devaluation of the entire system of paper currencies (the Dollar and the other fiat (unbacked, print as much as you want) World currencies) against a physical store of weath like gold and/or silver. In that case, the dollar has lost 80% of it's value in the past decade. For Gold: In 2001, it took 240 U.S. Dollars to buy 1 oz of Gold. In 2011, it takes 1,475 Dollars. In other words, it takes six times (6x) more dollars to buy 1 oz of gold using 2011 dollars vs 2001 dollars. For Silver: In 2001, it took 4 U.S. Dollars to buy 1 oz of silver. In 2011, it takes 40 Dollars. In other words, it takes ten times (10x) more dollars to buy 1 oz of Silver using 2011 Dollars vs 2001 Dollars. So if you had kept the price of silver fixed at $4 an ounce for the past 10 years, your dollar would only be worth 10 cents (10%) of it's value from 10 years ago.[/QUOTE]
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