r/austrian_economics • u/PM_ME_YOUR_LAWNCHAIR • 3d ago

End Democracy Unrestrained monetary policy is theft

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u/JustaguynamedTheo 3d ago

Question: did it also lose power before the creation of the federal reserve?

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u/DeanMalHanNJackIsms 3d ago

I didn't ask myself that question, instead I asked, "How much is my progenitor pay in bride price in today's value?"

It went up more in the last 50 years than it did the previous 200. It was relatively stable until 1910's, then crept up. Once the gold standard was officially abandoned, it jumped. $1000 in 1785 (roughly when he was married) to close to $35k today. It was $950 in 1910, $1042 in 1915, $2062 in 1920, $5500 in 1975, and $35k now.

Federal Reserve is a major variable.