This chart above tracks the purchasing power of the US dollar since 1914, the year that the government, through its stooges at the Fed, took command of monetary policy. Laughably, the stated mission of these central planners was to preserve the value of the dollar. Predictably, exactly the opposite resulted.
That is simply because after severing the last connection with the gold standard in 1971, the central planners took command of fiscal policy, and we have since seen an exponential growth in government debt.
The point is that the economic model that allowed the United States to rise out of abject poverty at its inception to become the most powerful economy the world has ever seen has been tossed aside in favor of a model that has proven time and again to be fundamentally flawed and always doomed to fail.
That is, that the introduction of pure Fiat Money, along with a reserve currency that is also Fiat Money has allowed central planners to perpetrate fraud on its citizens and even more so on the generations that will follow.