Americans are getting poor because the value of the dollar is falling. The dollar is falling because the Federal Reserve is creating a lot of new dollars. The Fed is creating new dollars because they believe this will increase demand. The Federal Reserve is also keeping interest rates too low. This allows banks to get loans from the Federal Reserve at very low rates and to speculate in US Treasuries and loan to the government rather than lending to average Americans. Competing currencies to the dollar such as gold would allow interest rates to be determined by the free market. Americans could save money and earn a decent return of normal interest rates on savings as prices for consumer goods fell in terms of gold. Americans would all get more wealthy after personal debt is paid off.
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