The first Wembley Stadium was completed in 1923, and cost £750,000 to build.
The second was completed in 2007, and cost £798,000,000.
That’s more than one thousand times as much.
Alan Rufus or Alain le Roux (“Alan the Red”) died in 1089 with an estimated wealth of £11,000, which made him the richest man in England and the 9th richest man in history (in those days, money actually meant something, think about it: eleven thousand pounds of silver…)
A pound in 1750 had more purchasing power than 150 in 2005
“In economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time… inflation is also a decline in the real value of money”
What causes inflation? “Economists generally agree that high rates of inflation and hyperinflation are caused by an excessive growth of the money supply”.
In other words, inflation is caused by printing too much money.
This makes the existing pool of notes worth less.
The dollar has lost over 90% of its value in the past 100 years this way.
Or, to put another way:
The Dollar is the new dime
“The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring permanent ruin. But both are the refuge of political and economic opportunists” Ernest Hemingway