And the problem with that is that as people discover, as politicians discover, that there seems to, in the short run, be very few consequences for printing this cash. They do so. But If you went back to 1971 and you took a dollar from that time period, and you put it under your mattress and you waited until today in order to spend it, it would have less than eight cents of the purchasing power that it did in the early seventies. And that is the debasement that has occurred because of the lack of fiscal discipline going on in DC right now. Well, the parallels are even worse. (16:31–16:47)
CLAIM
Asserts that a 1971 dollar has less than eight cents of its original purchasing power today.
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