Since recorded history back in ancient Babylonia, THC, the length of time/duration of any global "fiat" system was measured by a ratio of current vs a base period, not particularly in calendar days/years.
It has been documented --altho' in THIS messy office I'd be hardpressed to lay my hands on said documentation,--- it has been documented that every nationality who's current FIAT value has fallen to 5% of its historic basis, has disappeared off the face of the earth, as far as remaining a "going concern" to use a current buzz phrase.
A student of our unique monetary history is a middle-aged gentleman named R.E. McMasters. Maybe poking around in some of his archives if they even exist in public domain will provide you the bibliography of my above statement. Seems to me like that's who started the ball rolling for my thinking and caused me to pursue answers to a similar question myself about 3+ years ago.
The US base system is for the US$ being 1:1 is the year, 1920
The current value of the US$ by any number of scholarly, economic think-tank types is hovering around the .05:1 vs the 1920 basis.
Futuristic Extrapolation from said historical reference point to the present...
....has any number of thinking people overhere very concerned re: the viability of our democracy.
Clinton's repeated pulling of Russia's, Japan's, and China's lion whiskers doesn't portent much hope for immediate improvement in that economic ratio, either.
Most people, pseudo-economists like Ron Reece and Hutch come to mind, love to point out non-existant inflation overhere for all practical purposes...they quote less than 2% a year for the last oh, 8-10 years I guess is the cocktail party-set...
....but you could line them all up against the firing squad wall, and to the bitter end, not one of them will give you an answer when you ask them to multiply 2% per year inflation times the last 9 years when it has been so low.
No, THC, those types would rather die first than admit that inflation exists. Thus we are pushing that US dollar ratio (.057:1) even closer to the our potential extinction as a nation and as a political plutocracy.
God help us all when the Americans finally wake up...and I personally think Y2K will just be an excuse for our undoing...
we sewed the ecomomic seeds of our demise/demotion many many decades prior!
Regards,
O/49r |
