And then one night, the dollar was no longer as good as gold. From Mike Maharrey at moneymetals.com:
A colleague recently discovered a website called “WTF Happened in 1971?”
The entire main page is filled with charts and graphs. All of them show some kind of significant shift beginning in 1971. There are over 75 of them!
Here are just a few examples:
Here is some more data from graphs on the website:
- African-American incomes virtually stopped catching up to white incomes in 1971.
- Median male income has flatlined compared to real GDP per capita since 1971.
- The number of 2-income families has surged since 1971.
- Price inflation has surged since 1971.
- A can of Campbell’s tomato soup has undergone significant shrinkflation since 1971.
- Housing prices have skyrocketed since 1971.
What in the World Happened in 1971?
Clearly, something significant happened in 1971 causing a tremendous economic shift.
What was it?
President Richard Nixon severed the dollar’s last connection with the gold standard, making it a purely free-floating fiat currency.
Amazing link. Thank you.
No more gold standard?
Was Tricky Dick ordered to open the way for PRC/CCP land to be the manufacturer for Clown World?
Time will tell.
Even former Caporegime Michael Franzese made a comment about isn’t it good money, I mean the government prints it?
Do they?
The FED isn’t part of the gov, it is a private banking cartel.
Alan Greenspan even said so, saying that it can’t be audited or anything else, on camera.
Like the RB Reeiicch post, this is the invisible elephant in the room.
O/T-Former Caporegime M Franzese lost $16.5 million when a compadre gave up half the account number to an Austrian bank who said all of the number or go pound sand to US gov!
And what’s up with that where the gov can crash into accounts of other countries?