This is the clearest explanation I have heard of what taking the dollar off the gold standard (thanks to the Federal Reserve Bank) has done to the value of our money:
In 1933, Americans were paid $20.67 for each ounce of gold they surrendered. If they had simply lost one of those ounces behind the sofa, today they could exchange it for over $1,200. But if they had taken that $20.67 and misplaced it until today, that amount of money would only buy what a mere $1.32 would have bought them the day they turned in their gold.
Virtual buckeyes to Tammy Bertram and Teri Cain Owens, via Facebook.