In the period from 1913 to 2007, the Fed — implementing its mission to "stabilize the price level" — destroyed over 97 percent of the purchasing power of the dollar. (For comparison's sake, note that the value of the dollar had increased slightly during the 100 years before the Fed was created.)
Jerzy Strzelecki
Jerzy Strzelecki lives in Warsaw, Poland, where he is an investment banker and former undersecretary of state in the Polish Ministry of Privatization. He is an alumnus of the Warsaw University and Stanford University in the area of sociology.
