10-11-2021, 07:50 PM
(10-11-2021, 05:01 PM)BIAD Wrote:(10-11-2021, 02:46 PM)Kenzo Wrote: Wowit goes up like rocket...
And don't forget, in 1971, President Richard Nixon separated the dollar's economic value from gold too.
Odd really considering in the United States at the time, it was illegal for US citizens to hold gold between until 1974 due
'problems' during the Great Depression.
Up to 1944 -when The Bretton Woods Agreement was accepted as international monetary system, the US controlled
two thirds of the world’s gold.
By the way, in the 1971 -four months before President Nixon's reversal of the Bretton Woods agreement, the United
Kingdom also lifted all restrictions on gold ownership.
This must've had an effect.
They made private ownership of gold illegal here so that the government could hoard all the gold, so that they had something to anchor the value of the dollar to. When they untethered the value of a dollar from the value of gold, there was no longer a reason for the government to hoard gold, so they made private ownership legal again, because then the population felt they were again able to hold something of "value".
Little did the population realize how badly the value of that gold they held was going to be manipulated, or how badly the value of the dollars they held and could get much more easily was going to be decimated due to that manipulation...
... so the rich got richer, and the poor got poorer, but only the rich knew it was coming.
.
Diogenes was eating bread and lentils for supper. He was seen by the philosopher Aristippus, who lived comfortably by flattering the king.
Said Aristippus, ‘If you would learn to be subservient to the king you would not have to live on lentils.’ Said Diogenes, ‘Learn to live on lentils and you will not have to be subservient to the king.’
Said Aristippus, ‘If you would learn to be subservient to the king you would not have to live on lentils.’ Said Diogenes, ‘Learn to live on lentils and you will not have to be subservient to the king.’