Would you believe if I tell you that your money, since 1978, is as well as made of thin air?
Just read this, it is from National Geographic Magazine ,January 1993.
In an Article called: “The Power of Money” by Peter T. White and Charles O’Rear:
But where did the Fed get that hundred million dollars?
“We created it,” a Fed official tells me. He means that anytime the central bank writes a check, so to speak, it creates money. “It’s money that didn’t exist before,” he says.
Is there any limit on that?
‘”No limit. Only the good judgment and the conscience of the responsible Federal Reserve people.”
And where did they get this vast authority?
“It was delegated to them in the Federal Reserve Act of 1913, based on the Constitution, Article I, Section 8. ‘Congress shall have the power … to coin money, regulate the value thereof. . . .’ “
So no matter how hard you earned them , theoritically it could be reduced to be only as good as just papers anytime, and maybe even without proper warning.