https://brrr.money/ https://twitter.com/memetic_insti2t https://thefed.app/ [–]co-oper8 169 points 3 days ago This infographic deserves a Nobel prize for joirnalism. Good share! permalink embed save report give award reply [–]Stompya 96 points 3 days ago It’s a full-on website: https://wtfhappenedin1971.com/ permalink embed save parent report give award reply [–]DynamicHunter 28 points 3 days ago That cost of living infographic hurts to read. New house 2.5x average income, rent at like 15% permalink embed save parent report give award reply [–]co-oper8 9 points 3 days ago I know. I just read the whole page permalink embed save parent report give award reply [–]knuF 2 points 3 days ago You deserve a Nobel Peace prize for positive, engaging Reddit comments! permalink embed save parent report give award reply [–]co-oper8 1 point 3 days ago Aw swell! permalink save parent report give award reply [–]ebaley 1 point 3 days ago New Yorker? permalink embed save parent report give award reply [–]co-oper8 1 point 3 days ago Are you asking me if i'm from NY? permalink save parent report give award reply [–]ebaley 1 point 2 days ago A joke. Your spelling of journalism. permalink save parent report give award reply [–]co-oper8 1 point 2 days ago Oh lol permalink save parent report give award reply [–]SaneLad 213 points 3 days ago The biggest joke is that the US charges capital gains taxes on the sale of physical gold. Gains my ass. Getting taxed on inflation is what it is. permalink embed save report give award reply [–]DanTheMan_117 77 points 3 days ago Thing is, if we mined gold in the asteroid belt, it would drop 10 fold or more. Only 21 million bitcoin, ever. permalink embed save parent report give award reply [–]Threes_not_a_numberredditor for 3 months 15 points 3 days ago The cost of mining asteroids would be astronomical permalink embed save parent report give award reply [–]ElephantsAreHeavy 6 points 2 days ago Upvote for pun. permalink embed save parent report give award reply [–]CheetoPro4two0h 1 point 2 days ago two punny permalink save parent report give award reply [–]GreyHexagon 30 points 3 days ago They still charge CGT on bitcoin. This isn't anything to do with bitcoin Vs gold, it's that gold is stable and the dollar is constantly devaluing, but taxes are still calculated from the point of view of dollars. You keep something that's stable to avoid inflation, but they still tax you on it because they claim it's "increased in value." It hasn't increased, USD has just gone down the shitter. permalink embed save parent report give award reply [–][deleted] 3 days ago [deleted] [–]allofitILOVEIT 1 point 2 days ago Except you aren't keeping it if you are having to pay capital gains tax on it. Don't sell it, don't get taxed. permalink save parent report give award reply [–]GreyHexagon 2 points 2 days ago I get what you're saying but it's hard to buy milk and bread with gold. Obviously that's where bitcoin excels - it's totally possible to buy everyday shit with bitcoin (when we reach a stage where it's widely accepted.) Then the problem is with the fact that governments likely tax you on every transaction, not just buying USD. permalink save parent report give award reply [–]BruFoca 5 points 3 days ago If becomes profitable to mine gold in the asteroid belt is because the price to mine gold on the earth crust is so big that is cheaper to do in the belt. Scarcity doesn't mean that something doesn't exists, but the cost to recover it is more expensive that the price of the thing. A quick example is when the Saudis decided to flood the market with oil until the price of the oil was so low that fracking in the USA was unprofitable when everyone in the USA was broke they raised the prices. permalink embed save parent report give award reply [–]AtroposM 16 points 3 days ago If we ever go asteroid mining we already going to be a post scarcity and post currency society. permalink embed save parent report give award reply [–]FableFinale 16 points 3 days ago Only if the gains aren't hoarded by the asteroid mining companies. Did you know if you evenly distributed all the household wealth in the United States, every person would get $450,000? Imagine not a single person in the US being poor or struggling, but in fact very comfortable and well-off. We're nearly at post-scarcity levels of wealth already, it's just that nearly all of it is gobbled by the top .01%. permalink embed save parent report give award reply [–]Futonpimp 17 points 3 days ago So basically big companies need to pay ceos less and employees more? permalink embed save parent report give award reply continue this thread [–]New_Painting5190 11 points 3 days ago Give a million dollars to every single poor citizen in the US and 30% of them will be poor back again within a year. permalink embed save parent report give award reply continue this thread [–]0mega0 2 points 3 days ago Ok, what happens next? permalink embed save parent report give award reply continue this thread [–]call-me-GiGi 3 points 3 days ago People say eat the rich not realizing we are the rich sure you can split that money amongst Americans but we’ll be even more hated by those who are truly at the bottom of society. permalink embed save parent report give award reply continue this thread [–]slickVikk0 1 point 3 days ago If everyone made $450k per household imagine how bad inflation would be. 😂 permalink embed save parent report give award reply [–]kwanijml 0 points 3 days ago The economic ignorance here is just astounding. permalink embed save parent report give award reply continue this thread [–]STP_VEGAS 0 points 3 days ago And how will bitcoin be any better? At todays population there only about 300,000 Sats per person on the planet. With the likely population increase, that number can only drop. The rich are already hodling as much as they can, for a reason that can only be described as greed. Limited supply is no solution to equalized distribution, which is also known as communism. permalink embed save parent report give award reply continue this thread [–]UrinalCakeTreatsredditor for 6 weeks 1 point 3 days ago I bet the vast majority would blow that money within 6 months permalink save parent report give award reply [–]FableFinale 1 point 3 days ago Read the other comments below, I'm not necessarily endorsing it as an economy policy. It's an illustration of how much wealth the top .01% has. permalink save parent report give award reply [–]Resri88 1 point 2 days ago This is why their argument is so stupid. It aint gonna happen soon If/when it happens those companies are going to go about it the same way they do with diamonds. Keep it scarce and push the price high. permalink save parent report give award reply [–]Volwik 1 point 2 days ago* I think in 6 months a bunch of those people will be broke again...or dead. In 2 years even more. In a generation even more and in 5 even more. Do you then forcibly rebalance wealth again when inequality rears its inevitable head down the road? E: how do you(and should you) protect a society against stupid people harming themselves with their decisions while still protecting their right to make decisions, in this case with their finances? permalink save parent report give award reply [–]Unnormally2 1 point 2 days ago If that happened, all the houses would skyrocket in cost, because suddenly a ton of new people are in the market for one. permalink save parent report give award reply [–]B1ggusDckus 1 point 3 days ago Total bs. Asteroid mining is hella expensive. Also, the money for Elon's Dyson sphere must come from somewhere, I guess. permalink save parent report give award reply [–]botfiddler 1 point 1 day ago No, it still costs ressources and effort. Also, it's limited. permalink save parent report give award reply [–]Resri88 -1 points 2 days ago The asteroid mining is an invalid argument. If you are worried about that, you should be terrified about all the other cryptos coming for bitcoin permalink embed save parent report give award reply [–]DanTheMan_117 1 point 2 days ago It was a joke permalink save parent report give award reply [–]Resri88 1 point 2 days ago I see😅 permalink save parent report give award reply [–]JazzlikePractice4470 1 point 3 days ago 😂 permalink save parent report give award reply [–]ReitHodlr 1 point 3 days ago Endless supply of money! This reminds me of the very first dollar printed and borrowed + interest. If the first and only dollar is borrowed + interest, where is the money from the interest coming from? permalink save parent report give award reply [–]trollking66 218 points 3 days ago Ill take "the US dollar removed from the gold standard for 100 Alex". permalink embed save report give award reply [–]TendieTrades 55 points 3 days ago By Nixon…who was impeached…who famously said, “I am not a crook.” permalink embed save parent report give award reply [–]jt7855 8 points 3 days ago Yep, he also said he was a “Keynesian”. permalink embed save parent report give award reply [–]Zealousideal_Neck78 18 points 3 days ago* Nixon is not a crook by today's standards. In fact, what he did is very minor compared to what's going on now. Calling it more than this is just left wing partisan mischief and slander to cause discord. permalink embed save parent report give award reply [–]jrjdotmac 48 points 3 days ago Nixon used the entire US intelligence apparatus to spy on anyone he thought might pose a danger to him, his policies or his re-election. Those intelligence agencies dug up dirt on opponents and leaked that information. He then went on to win the 1972 election by winning 49 states. George McGovern only won only 1 state and DC. 520 Electoral Votes to 17. McGovern won the nomination after other democratic challengers dropped out over various scandals or dirt. Numerous laws were then passed in the aftermath, include one that forbid the NSA from listening to signal intelligence inside the US. I believe most folks see Watergate as a break-in, when that was only a single operation of thousands that were conducted across the country. Watergate was the only one where they were caught placing listening devices. Oh, and it happened to be the National offices of the Democratic National Committee. Young Nixon advisors at that time included Roger Stone and Paul Manafort. permalink embed save parent report give award reply [–]Itsthatijustdontcare 9 points 3 days ago Well I’m convinced- thanks for such a concise read. permalink embed save parent report give award reply [–]MemeLordsUnited 0 points 3 days ago So what you're saying is, dismantle the alphabet Intel agencies? I can get on board with this! None of this corruption could have been possible without them. They must be held accountable! permalink embed save parent report give award reply continue this thread [–]Quick-Wolverine-9379 1 point 3 days ago Obama did that to Trump too permalink embed save parent report give award reply continue this thread [–]kingx85x 1 point 3 days ago Sounds like the obama administration permalink embed save parent report give award reply [–]tylerhbrown 0 points 3 days ago And he recorded himself saying the n word in the Oval Office… permalink embed save parent report give award reply [–]overtoke 9 points 3 days ago *what he was ultimately charged for permalink embed save parent report give award reply [–]FLWeedman 2 points 3 days ago Fuck Nixon permalink embed save parent report give award reply [–]TendieTrades 1 point 3 days ago But he did say it…I think. permalink save parent report give award reply [–]Zealousideal_Neck78 comment score below threshold-7 points 3 days ago (1 child) [–]imnotsoho 2 points 2 days ago Nixon was not impeached. Also France was buying US gold for $33 per ounce, which was the international agreement at the time. permalink embed save parent report give award reply [–]TendieTrades 1 point 1 day ago He resigned the presidency but was in the process of becoming impeached I guess and knew he’d be fucked if he didn’t resign. permalink save parent report give award reply [–]Big-Veterinarian-823 -1 points 3 days ago When my wife (who is not American) ask me "who is Nixon?" I always reply with: "Donald Trump of the 70's". Staying on and on forever in the Vietnam war? Yeah that was Nixon. permalink embed save parent report give award reply [–]Okaymusic 3 points 3 days ago Trump got 5 Nobel peace prize nominations for ending war their the total opposite permalink embed save parent report give award reply [–]BruFoca 5 points 3 days ago List of wars or countries invaded by the USA during Trump government: permalink embed save parent report give award reply continue this thread [–]nagareteku 1 point 3 days ago Would you rather Nixon say "I am a crook."? permalink save parent report give award reply [–]Ralph_Naders_Ghost 5 points 3 days ago Judging by the chart, I'd say you got the Daily Double! permalink embed save parent report give award reply [–]maconsultant 2 points 3 days ago 💯 permalink embed save parent report give award reply [–]nofaploveitredditor for 2 weeks 1 point 3 days ago Nope. No fault divorce 1980 permalink embed save parent report give award reply [–]coinfeeds-bot 84 points 3 days ago tldr; "I don't believe we shall ever have a good money again before we take the thing out of the hands of government, that is, we can’t take it violently out of government's hands, all we can do is by some sly roundabout way introduce something that they can't stop.” – F.A. Hayek. This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. permalink embed save report give award reply [–]ok46reddit 27 points 3 days ago Congress got rid of secret voting on on amendments to bills (teller votes) in the interest of transparency. By making all of the member's votes visible this information created a market for the votes. This marks the beginning, in earnest, of the influence of lobbying dollars on the formation of laws. https://www.nytimes.com/1970/07/28/archives/house-backs-end-of-teller-votes-... When drafting legislation, the Founding Fathers relied on secrecy. They wrote the Constitution, Bill of Rights, and the Declaration of Independence in abject secrecy. This was no accident. As the following citations show, greater transparency has long been known to degrade the legislative process and provide benefits to powerful factions (lobbyists, partisan groups and monied special interests). https://congressionalresearch.org/Citations.html permalink embed save report give award reply [–]izaakfromspace 3 points 2 days ago I wish this comment was higher! Thank you for this information permalink embed save parent report give award reply [–]ok46reddit 1 point 2 days ago Hardly anyone has much awareness about this. I'm pretty sure that's by design. As you can see here, it is buried in a bunch of gold-standard nonsense. permalink save parent report give award reply [–]ricalamino 212 points 3 days ago Gold standard dismissed... permalink embed save report give award reply [–]aijoe 14 points 3 days ago "On June 5, 1933, the United States went off the gold standard, a monetary system in which currency is backed by gold, when Congress enacted a joint resolution nullifying the right of creditors to demand payment in gold." Since 1933 gold redemption has been made illegal for everyone but the government. Nixon finished it off completely by removing governments ability to redeem dollars for gold. I'm not how that explains though what happened private wages. permalink embed save parent report give award reply [–]oh_soo_swagless 17 points 3 days ago You didn’t read the article long enough pal. “The government held the $35 per ounce price until August 15, 1971, when President Richard Nixon announced that the United States would no longer convert dollars to gold at a fixed value, thus completely abandoning the gold standard.” permalink embed save parent report give award reply [–]aijoe 9 points 3 days ago "The government held the $35 per ounce price until August 15, 1971". That doesn't at all conflict with what I just said bud. 1933 change took everyone else off the standard in the US but the government. The government itself left the standard in 1971. permalink embed save parent report give award reply [–]Pooper69poo 9 points 3 days ago When Nixon did that, he did in the U$D for good, it stopped having even a proxy peg to something of real value, and moved to ‘confidence’ as its main value: (world reserve currency, trade in staple modern energy source:Oil, international settlement, etc.) thus the dollars you hold were now as truly worthless as they were after 1933, and the gov. could request as many pieces of paper as they wanted to be printed at any time with no requirement of showing an equivalent amount of gold to back it, thus properly devaluing it. permalink embed save parent report give award reply [–]Ok-Volume8372 2 points 3 days ago Truly the gold standard was abandoned by the Bank of England in 1914, to finance World War 1 permalink embed save parent report give award reply [–]apextek 11 points 3 days ago Vietnam waning, the hippie movement, Nixon wasn't doing so hot, Lots of assassinated civil rights leaders,... Post summer of love hangover permalink embed save parent report give award reply [–]itsallalive 21 points 3 days ago This doesn’t explain why the average female income continued to increase in relation to GDP while males plateaued. permalink embed save parent report give award reply [–]kwayzzz 61 points 3 days ago Its because prior to then the household only needed one adult working to afford a quality life. permalink embed save parent report give award reply [–]itsallalive 6 points 3 days ago I do think removing the gold standard was a factor, but women entered the workforce when they acquired reliable birth control. permalink embed save parent report give award reply [–]parishiIt0n 12 points 3 days ago Fact: no women ever worked before reliable birth control permalink embed save parent report give award reply continue this thread [–]cryptocurrencyking9 -4 points 3 days ago* As it should be now and was intended to be by whatever creator y’all believe in design. Now more people feel they have to work outside the home to keep basic necessities. That negatively affects children women and of course men because now women generally stating in America specifically are more bitches and more masculine than they have been in the past & men are way less authoritative much more emasculated and dominant in relationships. Our “leaders” definitely don’t give a shit about us just profits. permalink embed save parent report give award reply [–]JudoTrip 2 points 3 days ago What the fuck did I just read? permalink embed save parent report give award reply continue this thread [–]_Tangent_Universe 10 points 3 days ago Globalisation is the cause for that - decent paying unskilled labour jobs (aka factory jobs) moved out of the US. The wages of the top 25% have easily kept up with inflation - if you are a professional you’ve been doing fine. If you are unskilled you are out of luck for the past 50 years. And it’s going to get worse with automation permalink embed save parent report give award reply [–]Zealousideal_Line629 24 points 3 days ago More women were being forced into the workforce due to the 'keeping up with the Jones' syndrome. This increased their income. Plus that was the time women got all uppity about equality and fair pay. permalink embed save parent report give award reply [–]kwayzzz 17 points 3 days ago “Keeping up with the Jones” syndrome is propaganda. It was out of necessity. Prior to this a household could easier afford to have only one person working while the other tended to the children. permalink embed save parent report give award reply [–]uns5dies 5 points 3 days ago That's not true. They created new needs for us such as tourism, shopping, dining out once a week, entertainment... People used to had simpler lives back then, not 10 pairs of shoes and 30 shirts neither travelling so often permalink embed save parent report give award reply continue this thread [–]TendieTrades 4 points 3 days ago Keeping up with the joneses started with The Wyndclyffe Mansion. The 80-acre land it rests on was purchased by the wealthy Elizabeth Jones in 1853. The 24 bedroom mansion in New York was so grand it prompted a 'building boom' as all neighbours started upgrading their houses & the saying "Keeping up with the Joneses" was born. permalink embed save parent report give award reply continue this thread [–]wen_mars 1 point 2 days ago We went from homes where 3 generations lived together, the kids helped out with farm work and nobody had cars to homes with only 2 generations where the parents need a car each so one can drive the kids to school before work and the other can pick them up after work. permalink save parent report give award reply [–]kwayzzz 1 point 2 days ago All of that transition took place far earlier than the 70’s. permalink save parent report give award reply [–]Krypto_Kane 42 points 3 days ago They needed more taxpayers .. so they convinced women they can do anything a man does but better.. remember the slogan??? permalink embed save parent report give award reply [–]metal_bassoonist 26 points 3 days ago We can do it! (We can be fiat debt slaves just like men) Most feminists aren't gonna like that truth. Introducing women to the workforce essentially doubled the supply of labor, not overnight, but over decades. As the supply increased, the price of labor stagnated because inflation rose proportionally to the supply of labor increase. permalink embed save parent report give award reply continue this thread [–]Zealousideal_Line629 1 point 3 days ago I have to say I was very impressed when I found out they could bring home the bacon and fry it up in a pan. permalink embed save parent report give award reply [–]PaintTraditional2252redditor for 3 months -1 points 3 days ago More women were being forced into the workplace, so the children had to be put in schools so the government could indoctrinate them with their agenda rather than their parents' good values. This is why we have so many social agendas in society today. If children learn their values around the dinner table and are not forced to believe things, they don't really understand.. We wouldn't have so much division in society. But we do, and the government benefits from that. permalink embed save parent report give award reply [–]Zealousideal_Line629 0 points 3 days ago Agreed. permalink embed save parent report give award reply [–]LayPessimist 0 points 3 days ago Which is why I do home schooling. permalink embed save parent report give award reply continue this thread [–]cryptocurrencyking9 0 points 3 days ago Some were forced a lot of women demanded being in the workforce don’t remove that accountability from those women who wanted to function like men like dummies. All of that needs to be reversed it’s doesn’t benefit families or relationships or children or myself having most women in the workforce when they are designed to nurture not be a machine permalink embed save parent report give award reply [–]lenoqt[🍰] 2 points 3 days ago Do you have a source for this? I would love to see it, not trying to invalidate your comment btw. permalink embed save parent report give award reply [–]itsallalive 0 points 3 days ago Look at the graphs OPs attachment. permalink embed save parent report give award reply [–]lenoqt[🍰] 2 points 3 days ago Holy fuck, thanks! permalink embed save parent report give award reply [–]RationalLibraryCoins 0 points 3 days ago It's unfortunate that in a post about dropping the gold standard leading to human beings being compensated less for more work, you focus on the "horrors" of women having the opportunity to be more successful. permalink embed save parent report give award reply [–]cryptocurrencyking9 -1 points 3 days ago What or why do you believe women having opportunities to be successful in what exactly permalink embed save parent report give award reply [–]apextek 1 point 3 days ago* cant be summed up ij one sentence but women were for the first time entering the work force as woman rights surged and men of the same age were fighting in nam or protesting the war permalink save parent report give award reply [–]uns5dies 1 point 3 days ago Women that worked before used to be from poor families thus their income was very low as they were only in shitty jobs. Women from upper classes started to work more, study more in universities, etc. So they got into better paid jobs permalink save parent report give award reply [–]-_-_---____-----__redditor for 4 weeks 1 point 3 days ago Inevitable. Bitcoin is far superior to gold. permalink embed save parent report give award reply [–]lordsamadhi 44 points 3 days ago How are people seemingly okay with the government no longer being obligated to peg the currency and thus print endlessly if they so desire? Before 1971, the public did not allow this. The founding fathers were very against this. Yet, our entire population appears to be taking their poison-pill without question. And Bitcoiners are the crazy ones?? permalink embed save report give award reply [–]Stompya 25 points 3 days ago Kennedy opposed decoupling the currency. Hmmm permalink embed save parent report give award reply [–]link_nukem28 8 points 3 days ago because most people don't even know about things like this permalink embed save parent report give award reply [–]RationalLibraryCoins 4 points 3 days ago I had someone recently try to argue against BTC that "at least the dollar is backed by gold". People also have no idea about fractional reserve banking. The money people have in banks that's backed by nothing doesn't even really exist permalink embed save parent report give award reply [–]grahamkrackers 2 points 3 days ago They will fight tooth and nail to defend the system that suppresses them permalink embed save parent report give award reply [–]what_no_fkn_ziti -1 points 3 days ago How are people seemingly okay with the government no longer being obligated to peg the currency The us dollar is pegged to jobs, stable currency, and long-term interest rates instead of arbitrary shiny metal. permalink embed save parent report give award reply [–]lordsamadhi 2 points 3 days ago How so? Can you point me to some reading to support your claims? I don't think the dollar is pegged to anything. The people working those jobs are being lied to... their value being partially siphoned by a government who can use inflation to their advantage. "Stable currency"? The dollar is pegged to stable currency? Huh? Long term interest rates via the fixed income market. Yea, I agree with this one, but ONLY if the people keep believing in this fake house of cards. This is really just another way of saying it's pegged to "faith". No scarcity or thermodynamics built in. The dollar is the original Proof of Stake system. permalink embed save parent report give award reply [–]ThyC0BRA 1 point 3 days ago I’m not sure if I’m qualified to go into this, as it’s been quite a while since I read about it: When a human is born in the US, the social security number issued corresponds to the issuance of a corporation “lost at sea” - and I shouldn’t be going on about it but the person issued the SSN pays taxes, and I’m not exactly sure how… but the government reaps the benefits of the taxes from the corporation “lost at sea” - you see, they know it isn’t lost, but you don’t get to claim any of it. I’ll show myself out. permalink save parent report give award reply [–]HearMeSpeakAsIWill 0 points 2 days ago That arbitrary shiny metal has an inherent scarcity. There are only so many gold atoms in the world. That makes it something of a collector's item. What's the limiting factor on the number of US dollars that will ever be printed? That's right, there isn't one. Jobs go up? That means inflation, so better print more dollars. Jobs go down? That means we need economic stimulus, so print more dollars. Regardless of the number of jobs, "more dollars" is the preferred policy. That's not what pegging means. Long-term interest rates? Yes, eventually they are forced to raise them to prevent the whole house of cards from collapsing. Small comfort to those holding cash, especially over the last few years, who already saw their wealth eroded by government profligacy bordering on the criminal. permalink embed save parent report give award reply [–]therealcpain 1 point 3 days ago The point is pegging a currency to something that can’t be created out of thin air. permalink save parent report give award reply [–]a_wild_thing 1 point 2 days ago As of right now the citizens of the worlds wealthiest nations do not understand the difference between a fiat monetary system and and commodity based monetary system. It is that simple. Ignorance coupled with a strong belief that government will do right by their citizens. The inflation we are seeing now is the single best opportunity we’ve had since the Nixon shock to explain to people that if there is no cost to making new money, it may as well grow on trees and in time it’s value will reflect that. permalink save parent report give award reply [–]Coinsworthy 8 points 3 days ago Club of Rome happened. permalink embed save report give award reply [–]Salti21 8 points 3 days ago Nothing is by accident. permalink embed save report give award reply [–]Deathdar1577 8 points 3 days ago How about this: https://en.wikipedia.org/wiki/Nixon_shock permalink embed save report give award reply [–]oh_soo_swagless 2 points 3 days ago This is one of the few possible answers I have seen in the comments. permalink embed save parent report give award reply [–]martinsoderholm 1 point 3 days ago How about this: https://www.youtube.com/watch?v=CgqhywW9Cto permalink save parent report give award reply [–]masstransience 5 points 3 days ago Nixon happened to 1971. permalink embed save report give award reply [–]AllCredits 8 points 3 days ago Gold standard my guy permalink embed save report give award reply [–]nzcheyafalco11 5 points 3 days ago pRoGrEsS permalink embed save report give award reply [–]seansy5000 12 points 3 days ago Record corporate profits…. Aaaaand there goes the middle class. permalink embed save report give award reply [–]trufin2038 6 points 3 days ago Looking at the wrong year for sure. The question is what happened in 1913. permalink embed save report give award reply [–]Pradiis 8 points 3 days ago Also machines started to raise productivity. permalink embed save report give award reply [–]metal_bassoonist 5 points 3 days ago Yea but prior to that, workers received part of the fruits of that increase in their wages. Machines had been increasing productivity for thousands of years. Trickle down economics used to kind of work. Now they tell us we should be happy to even have a job. permalink embed save parent report give award reply [–]tensigh 2 points 3 days ago We also started importing a lot into the U.S. around that time, too. permalink embed save parent report give award reply [–]jt7855 3 points 3 days ago The fix is in. That is what happened in 1971. Now we all are paying for their nonsense. Every generation since is paying for a system that benefits only those closest to the printer. Also, so those in power can use the US to pursue their ideological endeavors. permalink embed save report give award reply [–]flygande_kanin 3 points 3 days ago Wow actually 1971 is a year well known in China, when everything changed overnight after Henry Kissinger visited China and China-US relations became good and China replaced Taiwan as a permanent member of the United Nations Security Council. permalink embed save report give award reply [–]Th3Bratl3y 1 point 3 days ago Bingo. permalink save parent report give award reply [–]CryptoMemesLOL 4 points 3 days ago Everybody should know what happened in 1971. This is where the printer game started. permalink embed save report give award reply [–]ultimatemuffin 4 points 3 days ago Drug war permalink embed save report give award reply [–]dirtyhandsome 16 points 3 days ago How is this related to Bitcoin? permalink embed save report give award reply [–]Recent_Opportunity34redditor for 3 weeks 70 points 3 days ago The Nixon administration removes the US dollar from the gold standard in 1971, thereby beginning the process to allow for infinite money supply. This article and its graphs suggest that this decision could be linked to the ensuing inflation, economic and monetary policies that spawned from this decision. Bitcoin, having a fixed and finite supply, it could be reasoned would curb some of these trends. ...at least that was my take away. permalink embed save parent report give award reply [–]637282726272828272[S] 12 points 3 days ago good! permalink embed save parent report give award reply [–]SaneLad comment score below threshold-11 points 3 days ago* (4 children) [–][deleted] 3 days ago [deleted] [–]martinsoderholm 1 point 3 days ago The de-pegging of gold happened globally, but the effects seen on those graphs did not. Why? Nixon also made another massive change in late 1970. IMO, this better explains the effects seen in the US, but not globally. https://www.youtube.com/watch?v=CgqhywW9Cto permalink save parent report give award reply [–]floorcondom 24 points 3 days ago Can we not downvote the guy for asking a question? permalink embed save parent report give award reply [–]HighlySuccessful 4 points 3 days ago If he goes to a car subreddit, opens up a post about a very well known issue with all modern engines and says "How's this related to cars?", people will either think: a. he's taking a piss, b. he's clueless. That will definitely prompt some downvotes. Maybe some will take it genuinely and reply "cars have engines" trying to help the guy out, but I'm sure there wouldn't be many. permalink embed save parent report give award reply [–]dirtyhandsome 2 points 3 days ago Hey, you seem to be knowledgeable. Can you ELI5 how this post is related to bitcoin? permalink embed save parent report give award reply [–]metal_bassoonist 5 points 3 days ago Because we're talking about reserve currencies. Used to be gold, now it's made up government monopoly money, it could and should be bitcoin. Tldr bitcoin fixes this permalink embed save parent report give award reply [–]shoestars 4 points 3 days ago Not the guy you asked but in 1971 we went off the gold standard and central banks started increasing the money supply with nothing to back the currency. Btc is a “hard money” like gold. The idea is that switching to a “btc standard” would fix many of the problems that plague our society. “Fix the money, fix the world” is something I’ve heard thrown around before. Basically bitcoin is a superior form of money to the fiat currency we use today. There are many reasons also why bitcoin is better than gold, but that’s another whole separate discussion lol permalink embed save parent report give award reply continue this thread [–]andersonle09 0 points 3 days ago That would be true if this was a currency subreddit. This is more like going to a Tesla subreddit and posting data about how ICEs are an inefficient way to convert fuel into energy. It is tangentially related, but it it is hard for everyone who is not knowledgeable about engines to draw a straight line; especially since there are probably people on the subreddit who just like Teslas and don’t really care about efficiency. permalink embed save parent report give award reply [–]floorcondom 1 point 3 days ago You could know how to code within bitcoin and still not know about going off the gold standard. Its a learning process that takes time. permalink save parent report give award reply [–]dirtyhandsome 2 points 3 days ago Thank you. Today is a weird day. Half of the comments i’m getting are along the lines of “I don’t know why you get downvoted”. Honestly, I don’t know either. Asking an honest question here. I clicked the link and it’s just a million graphics with no explanation as to why it is posted to a bitcoin sub. permalink embed save parent report give award reply [–]BashCo 1 point 3 days ago It's probably because people can't tell your question is an honest one because there are so many insincere trolls griefing the sub these days. permalink embed save parent report give award reply [–]dirtyhandsome 0 points 3 days ago Maybe the bear is making people bitter. Maybe they bought at ATH, maybe they’re unhappy with their lives.. who knows. I always try to see the upside in things! Thank you! permalink embed save parent report give award reply [–]RealCanadianMonkey 3 points 3 days ago "I don't believe we shall ever have a good money again before we take the thing out of the hands of government, that is, we can’t take it violently out of government's hands, all we can do is by some sly roundabout way introduce something that they can't stop.” – F.A. Hayek. permalink embed save parent report give award reply [–]bearCatBird 2 points 3 days ago It’s one of the primary reasons bitcoin was invented. To separate money/economy from the state. permalink embed save parent report give award reply [–][deleted] -4 points 3 days ago Pick up a book my dude permalink embed save parent report reply [–]ricardotown 0 points 3 days ago The armchair economist, thinking they understand global politics and monetary policy, have a very tenuous grasp on both math and money. So they focus on a single variable and use it to shape their entire world view and entire economic view. This sad truth will be used to ruin Bitcoin in the future as it tends towards more radical, uneducated "libertarians" and pushes itself into the "Liberty Dollar" space rather than the legitimate peer-to-peer cash space. permalink embed save parent report give award reply [–]a_wild_thing 1 point 2 days ago Before answering it might be best to ask, what is Bitcoin to you? A speculative investment where number go up and you can sell for a handsome profit? Or something else? permalink save parent report give award reply [–]Albertsongmanredditor for 3 months 2 points 3 days ago The middle & lower class contribute to 70% of the GDP. Failure to properly compensate after massive gains in productivity mitigates a strong economy. Those classes are the spenders. We are going into a debt spiral. True and pure capitalism compensates the spectrum of all employees properly. permalink embed save report give award reply [–]imsoupercereal 2 points 3 days ago* I know it doesn't fit the narrative, but we can't exclude other factors like computing abilities and improvements in communication. permalink embed save report give award reply [–]pentarh 2 points 3 days ago Petrodollar born permalink embed save report give award reply [–]RealPennyMuncher 2 points 3 days ago Gold standard ended bro permalink embed save report give award reply [–]Gamma-512 2 points 3 days ago Post coup per Kennedy assassins permalink embed save report give award reply [–]JasonHears 2 points 3 days ago The Nixon Shock permalink embed save report give award reply [–]AceVentura1224 2 points 3 days ago Nixon is what happened. permalink embed save report give award reply [–]AgenceElysium 2 points 3 days ago 20th century: women enter the workforce. 21st century: children enter the workforce. permalink embed save report give award reply [–]LeastResearch787 2 points 3 days ago Nixon permalink embed save report give award reply [–]Swole_Monkey 2 points 3 days ago That’s actually nuts it‘s immediately reflected in this chart 🤯 permalink embed save report give award reply [–]Futhamucker1 2 points 2 days ago We got fucked permalink embed save report give award reply [–]1avrce1 2 points 2 days ago We left the gold standard in 1971 if I remember correctly. permalink embed save report give award reply [–]strog91 5 points 3 days ago People forget that 1971 is also the year we normalized relations with China and started trading with them. Most of what you see in the charts was caused by opening trade with China. permalink embed save report give award reply [–]_Tangent_Universe 4 points 3 days ago I completely agree. The charts even show this - the salaries of the top 25% have kept up with inflation but the bottom 10% has stagnated. If the problem was with moving off the gold standard then it would have impacted all salaries - but it’s only the unskilled end that have been impacted. So yeah - there has been inflation but if you were a professional you’ve done fine. If you were a factory worker you were rekt permalink embed save parent report give award reply [–]martinsoderholm 2 points 3 days ago A less known fact is that Nixon also opened up committees to lobbyists in late 1970. https://www.youtube.com/watch?v=CgqhywW9Cto permalink embed save parent report give award reply [–]kytheon 4 points 3 days ago Looks like a lot of married couples with children… two years after the summer of ‘69 permalink embed save report give award reply [–]Zealousideal_Line629 3 points 3 days ago And before the divorces of 77' permalink embed save parent report give award reply [–]r4wbon3 0 points 3 days ago That summer seemed to last forever…. permalink embed save parent report give award reply [–]itsallalive 3 points 3 days ago Reliable birth control allowed women to consistently enter the work force. This increased productivity, household per-capita income, and wage competition. Their wages steadily improved thereafter while males plateaued. permalink embed save report give award reply [–]_Tangent_Universe 2 points 3 days ago Male wages in the bottom 10% plateaued - top 25% did fine. Globalisation reduced the numbers of relatively well paid unskilled (factory) jobs. China opened up in the 1970s and the writing was on the wall. If we were still on the gold standard when globalisation kicked in we’d still have seen the same relative wage impact. permalink embed save parent report give award reply [–]QAnonRetard 1 point 3 days ago Is this true? Can you give a source for this claim you are making? permalink save parent report give award reply [–]itsallalive 1 point 3 days ago Out of laziness and an unwillingness to debate I’d rather just let you assume it to be made up. permalink save parent report give award reply [–]QAnonRetard 1 point 3 days ago I'm not trying to debate at all. Just any source that proves what you are claiming regarding reliable birth control, as I'd like to read further about it. permalink save parent report give award reply [–]Chucktownchef 1 point 3 days ago This had much do with Govt telling moms they will be taken care of by the govt if they don’t get married. This has led to a demise of our culture and the family structure. Govt will send you a check and make sure you stay comfortable with being poor. permalink embed save report give award reply [–]OnlyBubbleredditor for 3 days 1 point 3 days ago Nothing happened by accident permalink embed save report give award reply [–]DSAdqqefvef 1 point 3 days ago War on drugs might be related to this too, the UN convention narcotics was also in 1971 permalink embed save report give award reply [–]tensigh 1 point 3 days ago There were a few others things, aside from the aforementioned gold standard. - International travel by jet airliner became more common, paving the way for imports - International phone lines became common use, again, paving the way for imports permalink embed save report give award reply [–]BanginBentleys 3 points 3 days ago 100% Trading with China boomed then as well. permalink embed save parent report give award reply [–]tensigh 2 points 3 days ago A lot of things happened around that time; even though the oil embargo started 2 years later, by 1971 the situation was getting difficult. It wasn't just one thing that caused change. permalink embed save parent report give award reply [–]SPedigrees 1 point 2 days ago That didn't start until the millennial when we stupidly extended permanent normal trade relations status to China, but Nixon opened the doors to it in 1971 when he visited there. permalink save parent report give award reply [–]BackgroundSea0 1 point 3 days ago* The rise of neo-capitalism happened. This was also the beginning of the time period in which the Supreme Court started abolishing common sense campaign finance laws in the name of "free speech," allowing corporations to much more easily buy politicians in Washington. The petro dollar also became a thing during this time. And let's not forget about the attacks on unions that began in the late 70s and 80s, destroying worker rights in this country. In other words, a multiprong attack to rob the middle class so the elite could consolidate more wealth. permalink embed save report give award reply [–]db2 -1 points 3 days ago Conservatives pretending to be Republicans happened. Now the party is gutted and mostly conservatives breaking shit for immediate gratification like small children. permalink embed save report give award reply [–]gaylord9000 0 points 3 days ago I'd say it's more like republicans pretending to be conservatives. permalink embed save parent report give award reply [–]raffiv 0 points 3 days ago Automation became a thing and continued to progress over the last 50 years. permalink embed save report give award reply [–]parishiIt0n 3 points 3 days ago Fact: automation was invented in 1971 permalink embed save parent report give award reply [–]LTCN1963 1 point 2 days ago Well that's just something wrong if you ask me my friend. permalink save parent report give award reply [–]nofaploveitredditor for 2 weeks 0 points 3 days ago No fault divorce in 1980. permalink embed save report give award reply [–]Ridebmx43 0 points 3 days ago Women were allowed to get credit cards without their husbands permission permalink embed save report give award reply [–]gtrhergfsdfgb 1 point 2 days ago Damn is that something real? I thought it was about Nixon. permalink save parent report give award reply [–]RomanDad 0 points 3 days ago Women entered the workforce en masse. Doubled productivity. Halved wages. permalink embed save report give award reply [–]OkRoad6218 -1 points 3 days ago Good thing BTC is backed by real world commodities… wait permalink embed save report give award reply [–]BlackPlagueCat 4 points 3 days ago What is Gold backed by? Nothing, it's just a finite resource. Usefulness derived by it's desire to be had for that very fact. If you could go dig up 4 pounds of gold in your back yard, it wouldn't be sold in jewelry stores as a "premium material" at high prices. Bitcoin is also finite and useful for it's ability to be out of the hands of the government, which is something Gold can't do- seeing as they regulate the trade; an important utility of it's own. permalink embed save parent report give award reply [–]slump_g0d 1 point 3 days ago Bet you feel real smart saying that permalink save parent report give award reply [–]PoDunkYuppie 0 points 3 days ago Everybody’s previous answer, plus a few… https://cointelegraph.com/magazine/2020/09/24/wtf-happened-in-1971 permalink embed save report give award reply [–]Disastrous_Dealer_12 0 points 3 days ago The Powell memo to the US Chambers of Commerce. permalink embed save report give award reply [–]novathekatredditor for 1 week 0 points 3 days ago We went off the gold standard. Why are you posting this in a bitcoin subreddit though? permalink embed save report give award reply [–]360alaska 0 points 3 days ago Women fully joined the work force, if you double the amount of workers you half what everyone gets paid. permalink embed save report give award reply [–][deleted] 3 days ago (2 children) [–]sios01 -2 points 3 days ago Boomers became adults. permalink embed save report give award reply [–]funkybeatz911 1 point 3 days ago Best resource permalink embed save report give award reply [–]iam_aryan007 1 point 3 days ago Woah 1971 looks like most important year permalink embed save report give award reply [–]johnnyestring 1 point 2 days ago It's just right and we should do some study over that year. permalink save parent report give award reply [–]LaunchATX 1 point 3 days ago Great Society programs maybe? permalink embed save report give award reply [–]GreyHexagon 1 point 3 days ago I love this site. I like to imagine how life would have been if 1971 was all just a bad dream. permalink embed save report give award reply [–]link_nukem28 1 point 3 days ago A little later there was a thing called citizens united aka corporate bribes to politicians permalink embed save report give award reply [–]samfishx 1 point 3 days ago Does anybody have any steel man arguments for and against the gold standard/Bitcoin vs fiat? I don’t feel like I’ve ever heard any arguments for or against either that haven’t been extremely slanted. permalink embed save report give award reply [–]StackOwOFlow 1 point 3 days ago all those Boomers’ parents fucking like rabbits led to consequences. and you had an era of “free love” permalink embed save report give award reply [–]daviguima 1 point 2 days ago They really need to guess the right thing right now mate. permalink save parent report give award reply [–]NvrIdle 1 point 3 days ago Lol, president Nixon. Duh… permalink embed save report give award reply [–]Dalichuk 1 point 2 days ago Thanks for telling about it, we are going to search about it. permalink save parent report give award reply [–]whysoseriousjune3 1 point 3 days ago Cocaine hell of a drug permalink embed save report give award reply [–]btcgreys 1 point 2 days ago People were having some tough time with that place. permalink save parent report give award reply [–]ebaley 1 point 3 days ago It started long before 1971. This was just the final death throe. permalink embed save report give award reply [–]Automatic-Area5144 1 point 3 days ago Gold standard permalink embed save report give award reply [–]AnxiousQuestioner 1 point 3 days ago A lot of drugs. A bunch of ideas. And “How can we profit the most on this massive generation of people”. Mixed with boomers being such a high percentage of votes for most of their life. They always had the ability to make a change with their vote. We can barely impact the vote because the older people are still all voting while the newer generation are less likely to vote mainly because they hate the government or the candidates. At least throw your vote to Harambe. Don’t let your name be an empty vote to be filled by a malicious actor permalink embed save report give award reply [–]andrew7231 1 point 3 days ago Everybody was mad The Beatles broke up permalink embed save report give award reply [–]dstibbe 1 point 3 days ago August 15th? permalink embed save report give award reply [–]jpmllr89 1 point 3 days ago Neoliberalism permalink embed save report give award reply [–]NNiikkyy 1 point 2 days ago What does that mean? Sorry I just don't know about it. permalink save parent report give award reply [–]SPedigrees 1 point 2 days ago Fake liberals would be a better term. permalink save parent report give award reply [–]jpmllr89 2 points 2 days ago Liberalism over time turns into its opposite. permalink save parent report give award reply [–]jpmllr89 1 point 2 days ago It's a trend in modern liberalism that takes the freedom of the individual to the extreme while promoting profits at all costs. permalink save parent report give award reply [–]SPedigrees 1 point 2 days ago* Neoliberalism began a couple decades later with Clinton's 3rd way centralism. permalink save parent report give award reply [–]jpmllr89 1 point 2 days ago Lmao permalink save parent report give award reply [–]Far-Ad-8261 1 point 3 days ago Women started to get more rights after case Moritz v. Commissioner. Women entered the economy more broadly which lowered salaries and increased productivity. permalink embed save report give award reply [–]57seconds 1 point 3 days ago I got born permalink embed save report give award reply [–]CaptainAntwat 1 point 3 days ago Just wait, within the next 2years you’ll be asking wtf happened in 2023/24. Digital dollar permalink embed save report give award reply [–]Puzzleheaded_Heat502 1 point 3 days ago It’s empowering women not doubling the workforce by making both partners work. permalink embed save report give award reply [–]MakeTotalDestr0i 1 point 3 days ago women entered the workforce permalink embed save report give award reply [–]iAmBaTmAn1388 1 point 3 days ago After the immigration act of 1965 a few years prior foreign labor started arriving in droves, driving down wages permalink embed save report give award reply [–]foulminionredditor for 3 weeks 1 point 3 days ago Starbucks was founded in 1971 and, as a result, people kept staring at charts to find correlations rather than getting sleep. permalink embed save report give award reply [–]coti20 1 point 3 days ago So, yes. But isn't that productivity vs. income graph not corrected for inflation and other factors? permalink embed save report give award reply [–]mab336 1 point 3 days ago Hippies permalink embed save report give award reply [–]jumpingjactrader 1 point 3 days ago they lowered the voting age to 18 permalink embed save report give award reply [–]martinsoderholm 1 point 3 days ago Sunshine laws in the US opened up the committees to lobbyists. https://www.youtube.com/watch?v=CgqhywW9Cto The effects shown on those graphs on the wtf-site did not occur globally. But the entire world went off the gold standard, so why not? permalink embed save report give award reply [–]mavtastickush66 1 point 3 days ago Women’s rights movement permalink embed save report give award reply [–]throwaway12222018 1 point 3 days ago Widespread adoption of computers and the Internet happened. permalink embed save report give award reply [–]EROSENTINEL 1 point 3 days ago Deviated from the gold standard permalink save report give award reply [–]EmotionalBreakfast27 1 point 3 days ago I was born in 1971 permalink save report give award reply [–]Seddy01 1 point 3 days ago Capitalism happened. permalink save report give award reply [–]btc-x24 1 point 3 days ago Rise of technology, partially anyways permalink save report give award reply [–]Michael47ORredditor for 3 days 1 point 3 days ago This started when Nixon suddenly stopped redeeming foreign owned dollars for their gold counterpart. The moment the dollar was not tied to gold the whole system is built on fraud. permalink save report give award reply [–]Natsurulite 1 point 3 days ago WTF happened in 1971?!? The first of the baby boomers began entering the workforce, that’s what happened permalink save report give award reply [–]Plastic_Ad6524 1 point 3 days ago Rise of technology, more people then jobs and monetary system change. permalink save report give award reply [–]Noob313373 1 point 3 days ago Consumer electronics started. Manufacturing boost. Same people, but more output. Goal of every economy permalink save report give award reply [–]MinnesnowdaDad 1 point 3 days ago The Nixon shock was a series of economic measures undertaken by United States President Richard Nixon in 1971, in response to increasing inflation, the most significant of which were wage and price freezes, surcharges on imports, and the unilateral cancellation of the direct international convertibility of the United States dollar to gold. permalink save report give award reply [–]VirtuousScoundrel 1 point 3 days ago ITT: lots of really uninformed takes on how well the gold standard was working. permalink save report give award reply [–]Electrical_Alps2457redditor for 1 week 1 point 3 days ago money printer go brrrrrr permalink save report give award reply [–]HomegrownMike 1 point 3 days ago Fucking Nixon. Fucking politicians. Let’s go Bitcoin!!! permalink save report give award reply [–]BenzOpated 1 point 3 days ago Why was milk do expensive back then ? permalink save report give award reply [–]Wide_Television_7074 1 point 3 days ago How can the US re-establish a partial gold peg? Is it possible? permalink save report give award reply [–]AfternoonLate9833 1 point 3 days ago I was born. permalink save report give award reply [–]QuartzPuffyStar 1 point 3 days ago The "deep state" made its first big move. permalink save report give award reply [–]Gitanochild 1 point 3 days ago Fuck Me 🫠 permalink save report give award reply [–]BahreClaw 1 point 3 days ago 1971 the US dollar officially became a fiat currency. permalink save report give award reply [–]mottledshmeckleredditor for 5 weeks 1 point 3 days ago It's the year Nixon too the US off the gold standard. permalink save report give award reply [–]ReishLionRight 1 point 3 days ago President Richard Nixon's actions in 1971 to end dollar convertibility to gold and implement wage/price controls were intended to address the international dilemma of a looming gold run and the domestic problem of inflation. This is a copy paste but that happened permalink save report give award reply [–]Low-Practice5025 1 point 3 days ago Guess I was born at the wrong time permalink save report give award reply [–]Loljebeck 1 point 3 days ago New world order was birthed in 1971 via the World Economic Forum Make the rich even richer and the poor even poorer. https://en.m.wikipedia.org/wiki/Klaus_Schwab permalink save report give award reply [–]tpot72 1 point 3 days ago Probably Nixon taking US off the Bretton-Woods system, allowing the country to print money without the need to be backed by hard currency. Most other nations followed, and the price of gold skyrocketed past the pinned $35/oz price it had hovered since the US went off the gold standard in 1933 permalink save report give award reply [–]Severe_Airport1426 1 point 3 days ago End of gold standard permalink save report give award reply [–]General-Decision-576 1 point 2 days ago Cocaine permalink save report give award reply [–]OwnerAndMaster 1 point 2 days ago The actual answer would get me banned from this sub permalink save report give award reply [–]rayjensen 1 point 2 days ago What permalink save parent report give award reply [–]ErrareUmanumEst 1 point 2 days ago This website is the best way to orange pill someone permalink save report give award reply [–]roofiokk 1 point 2 days ago I believe it was right around 1970 that we went off of the gold standard... permalink save report give award reply [–]csantini91 1 point 2 days ago Controlled Substances Act (1970) a year prior. a year without cannabis might have caused this permalink save report give award reply [–]Imperial_12345 1 point 2 days ago 1971 happened permalink save report give award reply [–]tilz0-R 1 point 2 days ago Gold as reserve currency? permalink save report give award reply [–]FrontTonight1814 1 point 2 days ago Isn’t it the detachment of the dollar from the gold standard? permalink save report give award reply [–]Cirewess 1 point 2 days ago On top of taking off the gold standard, they also started pushing Welfare big time permalink save report give award reply [–]imnotsoho 1 point 2 days ago The war on Unions didn't start with Reagan, he just put it into overdrive. Take a lookat the 4th chart. permalink save report give award reply [–]hamletgr 1 point 2 days ago I guess it was connected to women and Nixon matter or something like that, I don't know much about it and still people are not answering that in a correct way lol. permalink save report give award reply