August 15th is the 55th anniversary of the Nixon shock this year. This is when the last vestiges of the gold standard was ended and we went to pure debt based fiat currency.
A good visual of the damage this had done is here at www.wtfhappenedin1971.com
Last edited by MoneyMan
Those are some good visuals that really push how things got screwed up afterwards. It has been awhile since I viewed that though.
I remember this day, I understood the ramifications back then but sadly most did not.
On Aug 17, 2026, Prospector49 said:
I remember this day, I understood the ramifications back then but sadly most did not.
I was very little and I didn't know what it meant, nor did my family members unfortunately. Luckily I caught on in the late 90s to the laughter of many of those same family members.
On Aug 17, 2026, Prospector49 said:
I remember this day, I understood the ramifications back then but sadly most did not.
Man, would have been crazy to live through that era.
On Aug 17, 2026, MoneyMan said:
Man, would have been crazy to live through that era.
It's crazy such a monumental moment went largely unnoticed by Americans.
On Aug 19, 2026, DavidB said:
It's crazy such a monumental moment went largely unnoticed by Americans.
It really is. August 15 this year was the 55th anniversary of this and three days later we hit 40 trillion. If the government was fiscally responsible and we stayed on a gold backed currency, housing would actually be cheaper today than in 1971. Many things would be way cheaper.
On Aug 20, 2026, MoneyMan said:
It really is. August 15 this year was the 55th anniversary of this and three days later we hit 40 trillion. If the government was fiscally responsible and we stayed on a gold backed currency, housing would actually be cheaper today than in 1971. Many things would be way cheaper.
They couldn't let the peasants get ahead too much after all. 😐️
On Aug 20, 2026, rockfleece said:
They couldn't let the peasants get ahead too much after all. 😐️
Yeah and once you think you're getting ahead, someone changes the rules. 🫨
