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What is frackling?

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∙ 13y ago

Updated: 5/28/2024

method to extract natural gas

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What would one million dollars in 1970 be worth today?

In 1862 the United States passed a law known as "The Legal Tender Act" as a part of this law was 'the Parity Act" which stated in relevant part that all legal tender will hold the face value of the note. So in essence a dollar in 1933, 1950 and in todays money is still worth the same because 'law' says it MUST be. The buying power of that money however does change, in 1950 a loaf of bread cost $0.14 per loaf today it would cost $2.00 per loaf (avg) - so if we use that buying power as a guide the dollar in 1950 was worth 7.5 dollars in 2009 (simplified). Source: 73D Congress 1st session report #43 (1933)

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