Hey Steemers!
Since the creation of the Federal Reserve in 1913, while most senators and representatives were away for the Christmas holiday, the Federal Reserve Act of 1913 was enacted by the few who probably didn't have families and very wealthy private bankers. They did this quietly and quickly to be able to control our money supply.
I found this cool website to show you just how much the dollars has been inflated since the year 1900. (http://www.in2013dollars.com/2010-dollars-in-2017?)
(Citation: https://inflationdata.com/Inflation/Inflation_Rate/Long_Term_Inflation.asp)
I played around with the numbers, wanting to know how much $1,000 in 1900 would be at the inflated price in 2017. Read on to find out just how bad the Fed has been screwing us out of our money, and why it's never a good idea to leave your hard earned money in the bank (at least not since 2007-2008 when 0% interest rates were introduced)!
The average inflation rate has been 2.87% per year between 1900 and 2017.
This is how much $1,000 in each decade starting with 2010 and going backwards until going back to 1900 would be worth today.
You would need $1,121.38 in 2017 dollars to have $1,000 in 2010 dollars.
You would need $1,420.00 in 2017 dollars to have $1,000 in 2000 dollars.
You would need $1,870.88 in 2017 dollars to have $1,000 in 1990 dollars.
You would need $2,967.52 in 2017 dollars to have $1,000 in 1980 dollars.
You would need $6,302.16 in 2017 dollars to have $1,000 in 1970 dollars.
You would need $8,260.95 in 2017 dollars to have $1,000 in 1960 dollars.
You would need $10,146.22 in 2017 dollars to have $1,000 in 1950 dollars.
You would need $17,466.00 in 2017 dollars to have $1,000 in 1940 dollars.
You would need $14,642.16 in 2017 dollars to have $1,000 in 1930 dollars.
You would need $12,226.20 in 2017 dollars to have $1,000 in 1920 dollars.
You would need $24,893.51 in 2017 dollars to have $1,000 in 1910 dollars.
You would need $27,541.76 in 2017 dollars to have $1,000 in 1900 dollars.
Hope you found this useful in some way!
Thanks for stopping by!
