Wasn't 1971 the formal end of the linkage between US "currency" and gold, thus removing any and all restrictions on printer go brrrrrrrr?
That thing in your wallet and that you are working for isn't money. More like Mardi Gras beads. And the inflationary system is blowing up. Maybe intentionally.
Wasn't 1971 the formal end of the linkage between US "currency" and gold, thus removing any and all restrictions on printer go brrrrrrrr?
That thing in your wallet and that you are working for isn't money. More like Mardi Gras beads. And the inflationary system is blowing up. Maybe intentionally.
US was the last country on a gold standard (albeit a bastardized one). Meaning all countries around the world learned they count on the USD because it was the that would keep its' value. Then, on August 15, 1971 Nixon closed the gold window and nobody could exchange their dollars for gold anymore. In effect, the monetary system turned into a fiat one overnight as did the entire international economy.
US was the last country on a gold standard (albeit a bastardized one). Meaning all countries around the world learned they count on the USD because it was the that would keep its' value. Then, on August 15, 1971
Nixon closed the gold window and nobody could exchange their dollars for gold anymore. In effect, the monetary system turned into a fiat one overnight as did the entire international economy.
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