The dollar has lost 96% of its value since the introduction of the Fed in 1913.
Does anyone happen to know how much buying power the Euro has lost since its introduction?
I can’t find any inflation calculators like I can for the dollar.
If you are looking for money base expansion figures… good luck with that. I haven’t been unable to find anything in two years.
If you are looking for CPI data since inception (2002), here’s a handy table: http://www.bls.gov/fls/flscpim.pdf
Please bear in mind that the ECB is doing its utmost to murk waters and drive home the fact that consumers prices have stabilized since 2002 (ALL price increases are always blamed on oil prices and similar external factors) so data are very hard to come by.
I second that. The Fed at least offers a somewhat accessible arsenal of charts and graphs related to monetary issues. The ECB, on the other hand … is more like your grandpa’s attic. You might find something truly valuable once in a while, but you need to wade through a lot of dust to get there.
The dollar lost 96%of its value as compared to gold since the creation of teh FED.
In Europe, during the introduction of the euro (I take 2001, even though digital euros existed before that) gold was rougly EUR300/ounce, now it is EUR966/ounce. 1-(300/966)=.69
The euro has devalued 69% against gold since its introduction in 2001. This number does of course not reflect the depreciation of the currencies of the European countries before they joined the euro.
In addition, the dollar devaluated even more in the meantime; Today’s gold is 1227/ounce, when in 1914 is was 18.99.
See this interesting chart:
This means the dollar has devalued 1-(18.99/1227)= 98.4% to gold since the creation of the fed.
When gold hits USD1899 well be at a 99% devaluation.
These are completely irrelevant. He never asked about the price of gold.
If the buying power of gold has remained relatively constant over the pertinent time period, then the price of gold in Euros is a good way to measure loss of value in the Euro.