What Happened in 1971?

[Kenzo]

Good stuff. Thanks for posting. 


Like the author, I find that level of economics confusing. I would like to see a graph (if it is even possible) of world economic metrics through history with the ebb and flow of central bank influence/authority.

Here is a chart showing the buying power of a dollar from 1799 to now:



It is relatively flat until about 1914, then it begins to rise a bit, but around 1971, it takes off like a gasoline fire.

I got that image from this article




.

Wow   it goes up like rocket.

Btw, one interesting US economy detail i learned yesterday....Russia is now No. 2 Rank Among Foreign Oil Suppliers to U.S

Russia Will Rescue Europe From Its Energy Crisis