The Devaluation of the Dollar

• The Constitution is clear about the monetary powers of the federal government.
  - Congress must maintain the value of the dollar by making only gold and silver legal tender and must not "emit bills of credit."
• In 1933, $20 could be redeemed for one once of gold..  No it can be redeemed for nothing.
• This gives the government the ability to print money out of thin air whenever it sees fit, causing massive inflation.
• The new cash is given to banks who distribute it first to the well-connected who get to use it at current prices.  Buy the time the cash makes its way to you, prices have risen and somehow you actually have less actual wealth than you started with.