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Gold standard’s 1971 end caused increased inequality

“The real reason for increased inequality since the early 1970s. The end of the gold standard.”

“… [This video of President Richard Nixon] is the moment where the USA took a huge wrong turn. This is where we detached from financial reality. This is where the fiat insanity truly began. Its one of the most important moments in American history, and yet most Americans know little about it.

This is Richard Nixon making a mistake of colossal scale, and one which may in the end undermine the very economy he said he was trying to defend,” by Nick Sorrentino, co-founder and editor of AgainstCronyCapitalism.org.
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Posted by Steve on May 12, 2014 at 12:01 am | Permalink

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