Mises Daily
Author:
Hans F. Sennholz
Online Publish Date:
Many people know how to earn money, but few are aware of what the Federal Reserve System, acting on behalf of the U.S. Government, is doing to their money. It is inflating and depreciating the dollar at various rates—at double-digit rates during the 1970s and early 80s and at single-digit rates ever since. The present dollar is worth no more than