1792 Coin act said one ounce of gold = $19.39. Even worse than 99%!
Discussion
Absolutely. But the paper currency known as Federal Reserve note started in 1913. And it turned completely fiat at $35 an ounce. So I taking that as the start of life of the currency and 1971 as the end of the “convertibilit”. So 55 years to lose 99% against gold since it became just a worthless paper..
That happened after the Great Depression in 1934
