Dollars to Dust

It slips away
And all your money won't another minute buy
--Kansas

The Coinage Act of 1792 established the US dollar as the the standard unit of money in the United States. For nearly a century and a half, the value of the US dollar remained relatively constant.

1800 $1 PCGS F12 CAC

That all changed in 1913 with the passage of the Federal Reserve Act. The act instituted the Federal Reserve as the central bank of the United States. Since the Fed was created, the value of the dollar has consistently declined.

From the above graph, observe that the USD has been so debased that it is impossible to detect just where on the purchasing power scale we are vs 1913. 

Cause and effect. The Fed and inflation. Dollars to dust.