a Medium of Exchange.................

 

"The dollar has lost 96% of its purchasing power over the last century."  This statement is the most misleading claim in all of finance.  Full stop.

     The collapse of purchasing power of the US dollar is used to scare investors, sell dubious products, and fool people into believing nonsense.  . . . 

     Let's begin with the biggest issue:  The US dollar (USD) is not a long-term Store of Value.  That was never its intended purpose.  Rather, the USD is a Medium of Exchange.  There is an enormous difference between these two cases, and those who seek to mislead people rely on their not understanding the difference.

-Barry Ritholtz, How Not to Invest: The Ideas, Numbers, and Behaviors That Destroy Wealth—and How to Avoid Them