John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: John Pitera who wrote (12950)	10/29/2011 9:38:14 AM
From: Jon Koplik	4 Recommendations Read Replies (1) of 33421

Re : "oft repeated" lie (US Dollar has depreciated 98% since the creation of the Fed in 1913) -- I am SO sick and tired of hearing this. The reason it is a "specious" * * specious -- an argument that appears good at first view but is really fallacious ** ** fallacious -- containing or based on a fallacy: a fallacious assumption. tending to mislead; deceptive: fallacious testimony .... argument / "fact" is : The 98% idea is only (possibly) relevant if ... in the year 1913, you (literally) buried a jar of $10 bills (or any denomination) in your back yard, and then dug up the jar now and observed the purchasing power of those really old $10 bills. IN THE REAL WORLD, you would NOT have buried the money in your back yard, you would have earned COMPOUNDED INTEREST since the year 1913. A few of those years (around 1978 - 1982 or so) would have yielded tremendous interest, even assuming only safe 91-day T-bills. (And then, there was the other 94 or so years of interest earnings, too.) Jon. .

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