First published by Money Metals Exchange here: https://www.moneymetals.com/news/2023/08/17/specie-money-the-forgotten-currency-002797
<p><img src='https://www.moneymetals.com/uploads/content/specie-money-the-forgotten-currency-social.jpg'/></p>With inflation still at high levels, it is becoming overwhelmingly evident to Americans that Federal Reserve notes steadily depreciate in value as a form of currency. For example, an item that cost a silver dollar in 1913 – the year the Federal Reserve and federal income tax (16th Amendment) began – would cost close to $31.00 unbacked dollars today, as pointed out recently by Dr. Thomas L. Hogan.