ohhhh yeah that was https://wtfhappenedin1971.com right? I think some of the graphs that site uses are probably useable tbh.
Whenever I see that site posted I use the opportunity to post this graph and talk about how it wasn’t the gold standard but the ruling class deciding they had already won and could start increasing exploitation that caused a lot of these changes.
The removal of the gold standard was important in that it signaled the complete domination of the USD and treasury bills as the international standard. I think it’s pretty important in that it meant total capitulation of Europe to the US pushing their inflation onto other countries, thus worsening inequality there as they tried to make up for it by tightening the noose on labor.
It would be cool to have a website like the goldbug one with just graphs of shit getting worse after 1991
ohhhh yeah that was https://wtfhappenedin1971.com right? I think some of the graphs that site uses are probably useable tbh.
Whenever I see that site posted I use the opportunity to post this graph and talk about how it wasn’t the gold standard but the ruling class deciding they had already won and could start increasing exploitation that caused a lot of these changes.
The removal of the gold standard was important in that it signaled the complete domination of the USD and treasury bills as the international standard. I think it’s pretty important in that it meant total capitulation of Europe to the US pushing their inflation onto other countries, thus worsening inequality there as they tried to make up for it by tightening the noose on labor.