A lot of posters on the forum love to come up with figures showing how much the dollar (the American dollar, obviously) has depreciated over time, like 1 dollar in 1913 was worth 1000 dollars today (or whatever), with the general idea being that "the grass was greener and the light brighter back in the day"
However, what these forum members forget to account for is the rise in wages during the same time span. And the irony is that wages in the US have been outperforming inflation since WWII, barring a few rather short periods. It basically means that people become wealthier over years despite a declining dollar
So much for dollar inflation
Before the creation of the Federal Reserve System back in 1913,the US banking system and the US dollar were way more unstable and there were financial panic and inflation(if I remember this part of the US financial history correctly).
Nobody denies the fact that moderate levels of inflation can help for further economic growth.
The people are way wealthier now,compared to 1913,but this is caused by many other factors,that have nothing to do with the value of the US national currency and FED.Factors like WWI and WWII,technological progress,The Cold War,etc.The world wars actually boosted the US economy a lot,which looks like a paradox.