American Wealth Eroding by Bill Sardi

Bill Sardi states that:

In dollar terms, what does Presidential Candidate Ron Paul mean when he says: "The standard of living is going down for a lot of people on fixed incomes." What does Mr. Paul mean when he says this is what happens when "a country destroys its money" and "destroys or eliminates the middle class." What does that mean in dollars and cents? 

It means the American people are aggregately losing the value of their banked money at the rate of $16,881 per second, $970,904 per minute, $58,254,253 per hour, $1.398 billion per day, or $510,304,260,000 per year (that’s $510 billion!). That is the most conservative figure, based upon a 7% rate of inflation. The erosion of American wealth could be as high as $780 billion/year if a higher 10% inflation rate is employed.