“Penny For Your Thoughts” webcast hosted by Jeffrey Gundlach, Chief Executive Officer of DoubleLine.
Gundlach Presentation: TAB I Currency Debasement
January 1, 1913 – December 31, 2009
1910 vs. Today Purchasing Power
- In 1910 the price for a gallon of milk was $0.04 to $0.05
- Today, a gallon of milk is $3.19
- That’s 4.3% annual change over the past 104 years and leaves $1 of 1910 money worth $0.01 today
U.S. Dollar vs. Roman Debasement
U.S. Half Penny
- The Half Cent was authorized for production by the Coinage Act of 1792
- It was discontinued by the Coinage Act of 1857
- The Half Cent was one of several coins established by the Coinage Act established by the U.S. Mint:
How Much Longer Will the U.S. Dollar Remain the Reserve Currency of the World?
“At least 40 central banks have invested in the Yuan and several others are preparing to do so, putting the mainland currency on the path to reserve status even before full convertibility” – Jukka Pihlman, Standard Chartered
Chinese Yuan Appears to be on its Way Toward Reserve Currency Status