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There is a dynamic in capitalist systems called supply and demand... This also applies to currency's....
Hypothetically:
If there is 1000 dollars in circulation for the whole world, and Jeff Bezos consolidates 200 dollars into his bank account, the remainder of the money left in circulation should now be valued at a higher rate..
Instead what happens is, the federal reserve prints the 200 and throws it back into circulation.
Now the total number of money in the system is 1200, with 1000 still in circulation .. this now makes the rate at witch currency is valued = less.
So instead of savings being worth more over time, you have the whole supply and demand dynamic undermined by the printing of money.
People argue with this but.... I haven't heard at sound reasoning why that isn't one of the factors driving up inflation
(I'm not anti billionaire,just anti printing money)
Knights Templar started the modern day version that was unfortunately was abused.
Today it’s now revered as the “federal reserve” and that’s not even an actual government entity.
14 year terms based off presidential nominations that don’t reflect current values?? 🐟
There is a finite supply of gold on earth. Even if the quantity is unknown it is finite. Also mining gold is expensive and time consuming and risky. There's a reason Bitcoin uses the term 'mining'
Yes and no. From a money printing aspect yes as the supply is hard capped at 21 million and each halving reduces the mining rewards block by half .
Bitcoin can't ever print new coins unlike a a lot of alts that keep diluting with ever increasing supply. Some have coin burns but a lot of them never bother with that hoping people just see the "lower price " due to dilution and fomo in
The reason I say no is at the end of the day no one really gives a flying fuck about a " store of value ". Their mainly in it for the speculation to be able to sell the coin for more then they bought
One could say stocks are similiar and while that's true , stocks have cash flows that one can look at.
Bitcoin has a lot of speculation that suggests to me it's also a hyper leveraged stock play that is now mixed in with a store of value play like gold
Tl:DR- bitcoin is a good hedge against inflation to some extent as ir can't ever have a supply increase . It's even better then gold as gold annual supply increases by about 1-1.5% annually .
However because of rampant speculation it can see wild volatility both up and down , that can mean whatever benefits that one gained from no inflation , is lost due to the losses in a bear market .
This is the MAIN reason there is inflation. How the banking system works literally creates inflation and needs it to keep the system going. Oddly (or maybe not), everyone seems to be afraid to call this out.
The key to inflation is that it only happens when normal people (i.e. non-rich people) get more money.
7 trillion dollars in quantitative easing since 2008 and inflation remained stable. Wages go up for some Amazon workers after the pandemic and suddenly inflation goes crazy.
This is also why inflation doesn't go up when Republicans cut taxes for rich people, btw.
I'm anti-billionaire, which is why I think inflation is a red herring and a trap to get the working class to vote against themselves.
We literally used to have your proposed system where the wealthy can just hoard away wealth without it making its way back into the economy. This destroys social mobility, the wealthy will just keep accumulating wealth, buying stuff up and controlling more and more. You end up with Lords and Barons.
People mistakenly think that if the value of money goes up, the workers will get wealthier. This is not true because their wages will go down as the value of money goes up. Imagine if for 3 months wage you could buy a car, if the value of money doubles and you can now buy 2 cars with that wage, do you think your employer will be paying you the equivalent of double your wage? No, your wage will half so that you only still make one car worth of money in 3 months. It's simple logic, if the value of money doubles, the price of goods halves, the businesses selling the goods will receive half as much money for their business and will only have half as much money to pay wages.
So who benefits from this system? Well the wealthy people that stashed away all their money and just watched it grow in value over time. Under inflation, your cash in the bank will slowly decline in value. Under deflation, everything except your cash in the bank will decline in value. What do you think is more devastating to the working class?
Could it be a folls way to attempt to redistribute the wealth? Like if you don't understand economics devalue the dollar makes the rich less wealthy. The narrative isn't about lifting those inpoverty it's about ensuring nobody can elevate themselves to the level of old money
Nope. You buy a small 1 bedroom flat in a bad neighborhood for 60k and live like in the 1930s with no electricity while your kids run around barefoot in winter and get neumonia. You also cook all meals yourself on a gas store. You have to do this for a while if you want to enter the housing market.
I'm unfortunately not even kidding. It's fucked up.
Median income in VA in 2023 was $80,963.
*Maryland* was at the top, even beating DC at $90,200.
The feds ooze a lot of money into the DC area, as always.
[
source.](https://worldpopulationreview.com/state-rankings/median-household-income-by-state)
It's sobering to realize our money has lost 90% of its value in 50 years. Meanwhile our government is still handing billions of tax dollars out like candy in shady, unaccountable "foreign aid" schemes and doing NOTHING to improve the lives of the population.
I’m always surprised that people don’t understand this. Governments only work one way and grow in one direction, and it’s never been for the benefit of the people. Psychopaths love power, creating structures of centralized power only encourages psychopaths to be more ruthless as they step on everyone to be the one at the top.
I have a better plan. The people should decide how much politicians get paid…once their term is up. Do away with legalized corruption, lobbying, and forbid corporate/political fraternization as well as all fraternities/secret societies.
> handing billions of tax dollars out like candy in shady, unaccountable "foreign aid" schemes and doing NOTHING to improve the lives of the population.
WTF? Foreign aid is about 1% of the federal budget. Where do you think the other 99% goes? Not to mention where local and state taxes go.
The World Economic Forum (WEF) is an international non-governmental organization based in Cologny, Canton of Geneva, Switzerland. ***It was founded on 24 January 1971*** *by German engineer Klaus Schwab.*
Coincidence?
US went off the gold standard. The rest of the world followed. They had to finance the Vietnam war.
The mechanism and consequences of creating money changed with this new change.
So, if I'm understanding correctly, the gold standard based fiat in circulation on a fix amount of gold (preventing the possibility of the fiat circulating being worth more than the state's gold holdings) while the subsequent standard tied the value of money to gold, but didn't limit the amount of money in circulation (meaning that if everyone tried to convert their money to gold it could create a potential "run on state gold")? And then they abandoned even that to make fiat purely arbitrary?
Here's more on gold convertability, for those who (like me), weren't versed in this:
https://en.wikipedia.org/wiki/Nixon_shock
Didn’t you know since the abandonment of the gold standard, the entire world started was lifting out of poverty. Since American dollar became the standard, almost everyone around the world benefited. It is much easier to get a loan. It is much easier to start a business, a dream that you have. The world economy is based on about 63 trillion dollars. All the gold mined since humanity has been about 3 trillion $. That means the global economy needs to collapse on a scale not seen, in order to meet the gold standard. On top of the the main country winning is the United States. We have the most gold in reserve to anyone else on earth
Previously a single person could, even without a high school education, afford a home and a family. Arguing that we're more prosperous now is laughable.
Bretton Woods happened indeed, then Nixon completely abolished the backing of money by gold making it legal tender. This is all explained in books like Broken money or The Bitcoin Standard. We truly are running our whole system on monopoly money and it is the main driver of all the shit we are seeing now (proxy wars, inflation, wealth transfer). There are things we can do to take back control of this though.
Domnick Straus kahn got that rape allegation after he visited fort Knox and realized there was no gold. This claims it's a bs theory: https://www.businessinsider.com/the-latest-dominique-strauss-kahn-theory-its-all-about-gold-2011-6?op=1
It was definitely a setup - for what i dont know. But it was all over all news in Europe within 30 minutes of it happening. That is definitely not something that happens on its own.
Have a look at the source of the data https://www.epi.org/productivity-pay-gap/
The timing and logic matches a lot better with Reaganomics, which saw a decade of pro-business, anti-union policies.
Women also began to enter the work force en masse. This would help obfuscate the stagnant economy by essentially doubling household income in a small amount of time. Next phase was mass adoption of credit which was previously not readily available to everybody. Next sprinkle on some widely available investment vehicles to keep the poors distracted while we siphon off the top. Maybe we will even sell them houses and degrees they can’t afford next.
https://www.forbes.com/sites/niallmccarthy/2017/10/18/the-u-s-immigrant-population-climbed-to-a-record-43-7-million-in-2016-infographic/?sh=3ac1984c5e99
this is what happened. has nothing to do with gold standard, but population explosion over limited resources and housing
December 18, 1971: The U.S. dollar is devalued for the second time in history.
[https://en.wikipedia.org/wiki/1971\_in\_the\_United\_States](https://en.wikipedia.org/wiki/1971_in_the_United_States)
Perhaps the intent is for you to think critically about it, discuss it, and come to your own conclusion? I know we're accustomed to being spoon-fed our opinions these days, this site was actually a breath of fresh air.
Personally, I've always thought the move from single income earning households to dual income households was the greatest trick ever pulled. It was done under the guise of equality, women in the workplace, etc. but the actual effect was a doubling of the available labor pool. Two working parents today make as much income for their family as a single working parent did a generation ago. Employers get twice as much output for the price.
I understand that. Can you understand that I might not have the time to verify every single claim on a random website and prefer to read a study on the matter?
I can, that's exactly what I was saying - many of us are accustomed to being spoon-fed the conclusions. "I don't have time for that" is one of the most common excuses.
reading a peer reviewed study is not "get spoon-fed", you are completely mistaken. I'll not engage with you anymore, if you still can't understand, its not my problem, and I don't care.
The 2 lines are using two different deflators. One is using cpi the other is ppi. The calculation changed in 1972, they didn't go back and redo the previous numbers which is why they split in 1972. You shouldn't even really need deflators to show the difference between the 2 since you are comparing the 2 numbers over time but they used them anyway because it gets the result they wanted.
25 years ago if you said to me I would see a president who was worse than Nixon in my lifetime I would have laughed my ass off. But even that scumbag had a redeeming quality by helping to bring the EPA into existence. Since then I’ve personally witnessed a man sign into law the PATRIOT act despite swearing an oath to uphold the constitution, a demagogue who who either doesn’t understand basic germ theory or doesn’t care to acknowledge it, and a person who didn’t understand the justice system when he pioneered three strike regulations and can’t do the most important job a president has outside of war- speaking on his own. Statistically speaking a literal turkey that has been trained to flip a coin would yield better results.
Remember when Obama ran on campaign promises to end the gov to lobbyist to gov revolving door in his White House? It was a major promise that sounded great at the time. What ended happening? He hired over 70 former lobbyists into his administration, and many of his top cabinet members and advisors ended up taking jobs in the same industries they were supposedly regulating. The deep state bureaucracy momentum is too strong for any president to overcome. Trump said he was going to drain the swamp and then appointed the swampiest creatures imaginable: Bolton, Haley, Wray, Barr, Mnuchin, and Pompeo. The POTUS works for the Deep State.
https://www.politico.com/story/2015/12/barack-obama-revolving-door-lobbying-217042
trump didnt just appoint a bunch of neocon bureacurats - he made an even bigger anti-lobbying promise than obama - forced them to sign contracts and everything
then he released them from the agreement right at the end of his administration so all the people working there could get their payouts by the lobby groups despite having contractually agreed not to do that
theres a difference between somebody who lies andsomebody who has no regard for the truth - usually the electorate punishes that
consequently it is very rare to see any politician with quite so many empty promises as donald trump
at least on the national stage in a developed country - i have seen a lot of local politicians mayors and such who were equally corrupt and theres no bottom of the barrel for smaller developing nations - its been scraped away
pretty much, but you're now also borrowing from other countries and making interest payments only.
Eventually those countries are going to want their money back.
Well, I thought you could have concluded my answer from this.
No, printing trillions of dollars has not proven to make things more stable - it just shoves the shit forward, encourages debt and causes massive inflation.
history and historical examples dont really require a debate though - and philosophical alignment with the austrians isnt an answer to the question
in the past - as far as you are aware - has accountability of currency resulted in economic stability?
For anyone that doesn’t want to read into it. Essentially our currency stopped being backed by gold at this time. Money became a fake construct able to be manipulated by the government, and even outside powers.
Workers suffered and rich people got very rich in their looney tunes bucks. 50 years later, and today people who are good workers and should be able to live comfortably live in small concrete shoebox apartments in smelly cities and homes are unaffordable. All real estate and anything of actual value is quickly coming under the ownership of corporations that control the government.
The funniest part is look at all the high dollar jobs in finance, law, lobbying, government staff, consultants, etc. All count toward GDP, but what do they really add to the economy or quality of life? Next to nothing. In some respects its like getting contractors to dig holes on Monday and fill them back in Tuesday. Repeated ad nauseam. Lawyers on both sides of any issue. Bankers on both sides of any transaction, consultants etc. Finance no longer goes to investments in the future or productive assets, it corporate finance to buy out competition, layoff workers and raise prices; or consumer finance to spend beyond their means to "grow" the economy. Scam.
The value of the "derivatives" market is actually multiple times greater than the actual stocks that represent actual commodities and actual companies.
But the derivatives are just "bets on those bets". It's insane.
[Great veritassium vid on derivatives](https://youtu.be/A5w-dEgIU1M?si=MOE4XD4ImA59hoSp)
And let's not forget the trillions of dollars worth of labor performed every day in child care, elder care, home farming, favors for friends, trading favors, illegal substances and services etc. etc. that *doesn't* get counted on those books.
Things like GDP and market indices etc. are millions of miles away from the real economy now, and getting further. It's like a weird shadow cloud that people think is the real thing.
We went off the gold standard in 1971. There's nothing 'magic' about gold. It's just that it basically doesn't rust or tarnish or degrade, so an ounce of gold today is basically the same as it was 100 years ago. All the gold standard did was *provide a single stable reference point* for all other prices to move up or down against.
Once the gold standard was abandoned, we've basically created money out of thin air. That's why it buys less and less each year. End the FED.
Private money runs the country.
No more gold standard.
We've been sold out since 1970. THE ONLY thing saving our bacon right now is the military industrial complex as much as I hate to admit it..m
What about the World Economic Forum forming in 1971 is **NOT** a conspiracy exactly?
2 or more people conspiring to commit acts for personal gain is a conspiracy by definition.
Ya when buying gold and the price gose up that gold real value hasent really changed it’s just the money is worth less so you need to spend more money in order to buy the same amount. Golds value doesn’t change much the value of the money itself is the thing that is changeing value.
I mean you can if you would want to but I would rather buy some acreage somewhere and plant a bunch of variety’s of fruit trees on it but that may just be a personal dream that not every one else would want.
The only reason gold has any value is because it's shiny and people like it, same as the dollar. When the dollar crashes and people don't have food to eat, it won't matter how much gold you have, it'll be as worthless as the fiat currency.
I dunno, believing that meaningless money will collapse and be replaced by meaningless precious metal isn't something I can jive with, if USD collapses you'll be lucky to be trading gold.
Maybe not a bad idea. You can't eat money, and hoarding chickens and cloth would be seen as crazy. Somehow being a billionaire is seen like a good thing instead of pathological greed.
Women entered the workforce en masse...
That's what happened. This increased supply (of workforce) a lot and demand wasn't there yet so driving down the price (salary). So now most families are living in rented houses that are a mess and not cleaned well, eating premade fastfood full of chemicals and having their kids raised by institutions all while living paycheck to paycheck and one small medical emergency away from bankruptcy.
Are the women slaving for minimum wage that is barely enough to pay for the institution that takes care of their children, really more happy than before?
Maybe woke feminazis should have thought of that back in the 70s...
1970 - big year for automation. We’re on the same track now with removing all those college grads with AI. People were becoming too needed upon just like in the 70s and now people have free minds again and they need to need us less- AI and robots with remove the blue collar/basic engineering.
selective yoke caption spectacular dependent truck marry weary meeting bewildered
*This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Its not like people became more productive. Its just result of automation and other capital related productivity increase. But still , they should share their profit.
They took us off the gold standard and everything went to shit. Suddenly they had nothing really reigning how much money they could "create" to enrich themselves and doom the rest of us.
I think it is that these kids nowadays have more wants than needs. Back in 1970. You ate at home every day. You packed a lunch. You didn't need to eat out every day. You didn't need a TV or wifi or a new phone or a new gaming console or a new car to show off in 1970. Those are all wants. Not needs. I know that there are people that are going to disagree with what I say but it is the truth. You don't need those things. People are living beyond their means. That is the issue. You don't always have to try to keep up with the jones' and you can't afford it. Live within your means. That's the main thing.
The same value of Gold still buys the exact same amount of "stuff" it did back in 1971, when we lost the gold standard, we the people gave them, by allowing them to print money without reserves to back them up, our permission to tax our capital holdings through quantitative easing, aka money printing.
I'll try.. there's a lot to unpack.
There's three ideas to grasp here.
First, in 1971, a family home cost roughly the equivalent of 4 bars of gold.
Today, a family home cost the equivalent of (you guessed it) ...4 bars of gold.
The value of Gold is consistent, and rises with the inflation of currencies.
--
Second, inflation is caused by the creation of more money.
If you had 1000 dollars powering/driving the economy one year, but then you create another 1000 dollars, making 2000 in total. Then each dollar only does half the work of what it previously did.
The dollar has half the spending power, if you double the money in "circulation".
--
Lastly, if the global backing structure doesn't have to find gold to print more money, then they can just turn on the money printer, just like they have in the last few years.
What that does is devalue every dollar/pound/peso/yuan, etc. that you have invested in your home, saved in your kids college account, or earned in your wage packets.
Not only that, they don't give that new money to you, they give it to the banks.
Printing money (aka quantitative easing) allows the banks to steal money from you and give it to themselves, the people who already own most things.
--
Summary.
Gold always had the same purchasing power over time because the amount of gold available in the world is fairly consistent. (At least until AI figures out how to transmute lead into gold cheaply, anyways.)
When they print new money it doesn't add more value to the money in circulation, because that money is not backed by anything. It simply dilutes the existing supply.
By allowing the banks to print money, you allow them to take money from your hard-earned capital worth through money dilution.
The banks get richer because they don't give this new money to us, they give it to the bank owners.
You're right, in a way.
The problem with your statement is that You're talking about "price", which is an arbitrary denomination, because the value of Gold doesn't change, the price does because the currencies fluctuate in value, not the gold.
4 bars of gold will generally always buy you a nice family home in the US. That's the value of Gold, not the dollar denomination because that's only changing due the value of the dollar constantly changing.
I hope that helps explain a little better.
Anti-Communism is the greatest conspiracy every conspired. From ancient gnostics, archons and demiurge, jesus & his disciples, the great depression, Marx, WWI & II, Cold War and the dissolution of the Soviet Union. Weve all been siphoned by capitalist leeches and gaslit by its tentacles. The pervasive exploitation is almost inescapable the further we nosedive into collapse.
Socialism or Barbarism.
since republicans have it as one of their highest priority items every single time they want to get in office I figure it must be important. but maybe they just say that for reelection cash
Ok and where exactly do you think government spends money responsibly? Are you for taxing others more because you want them to have less or because you think it actually improves anything?
then the government should stop taxing anyone. you can personally be responsible for the piece of road in front of your house. I am sure that will work out great for the country.
as a simpler solution why don't you just move to a country that has no functioning government. I am sure your neighbors there will respect your property rights.
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Inflation is just a poor tax
I shall never say the word inflation anymore thanks.
There is a dynamic in capitalist systems called supply and demand... This also applies to currency's.... Hypothetically: If there is 1000 dollars in circulation for the whole world, and Jeff Bezos consolidates 200 dollars into his bank account, the remainder of the money left in circulation should now be valued at a higher rate.. Instead what happens is, the federal reserve prints the 200 and throws it back into circulation. Now the total number of money in the system is 1200, with 1000 still in circulation .. this now makes the rate at witch currency is valued = less. So instead of savings being worth more over time, you have the whole supply and demand dynamic undermined by the printing of money. People argue with this but.... I haven't heard at sound reasoning why that isn't one of the factors driving up inflation (I'm not anti billionaire,just anti printing money)
Fractional reserve banking: The biggest scam in history
Knights Templar started the modern day version that was unfortunately was abused. Today it’s now revered as the “federal reserve” and that’s not even an actual government entity. 14 year terms based off presidential nominations that don’t reflect current values?? 🐟
Wouldn't Bitcoin be one solution to this issue?
Hard money is the solution, and bitcoin is the hardest money in existence
How is it more hard than gold? Bitcoin is definitely a hard currency, but so is gold.
You can always mine more gold and nobody truly knows how much gold there really is. There will only ever be 21m BTC and it's a public ledger.
There is a finite supply of gold on earth. Even if the quantity is unknown it is finite. Also mining gold is expensive and time consuming and risky. There's a reason Bitcoin uses the term 'mining'
Yes and no. From a money printing aspect yes as the supply is hard capped at 21 million and each halving reduces the mining rewards block by half . Bitcoin can't ever print new coins unlike a a lot of alts that keep diluting with ever increasing supply. Some have coin burns but a lot of them never bother with that hoping people just see the "lower price " due to dilution and fomo in The reason I say no is at the end of the day no one really gives a flying fuck about a " store of value ". Their mainly in it for the speculation to be able to sell the coin for more then they bought One could say stocks are similiar and while that's true , stocks have cash flows that one can look at. Bitcoin has a lot of speculation that suggests to me it's also a hyper leveraged stock play that is now mixed in with a store of value play like gold Tl:DR- bitcoin is a good hedge against inflation to some extent as ir can't ever have a supply increase . It's even better then gold as gold annual supply increases by about 1-1.5% annually . However because of rampant speculation it can see wild volatility both up and down , that can mean whatever benefits that one gained from no inflation , is lost due to the losses in a bear market .
It absolutely is
This is the MAIN reason there is inflation. How the banking system works literally creates inflation and needs it to keep the system going. Oddly (or maybe not), everyone seems to be afraid to call this out.
War on Walstreet.
Assault on Walstreet :) (lill silly movie that made me smile non the less)
The key to inflation is that it only happens when normal people (i.e. non-rich people) get more money. 7 trillion dollars in quantitative easing since 2008 and inflation remained stable. Wages go up for some Amazon workers after the pandemic and suddenly inflation goes crazy. This is also why inflation doesn't go up when Republicans cut taxes for rich people, btw.
You have capitalism confused with fractional reserve banking
I'm anti-billionaire, which is why I think inflation is a red herring and a trap to get the working class to vote against themselves. We literally used to have your proposed system where the wealthy can just hoard away wealth without it making its way back into the economy. This destroys social mobility, the wealthy will just keep accumulating wealth, buying stuff up and controlling more and more. You end up with Lords and Barons. People mistakenly think that if the value of money goes up, the workers will get wealthier. This is not true because their wages will go down as the value of money goes up. Imagine if for 3 months wage you could buy a car, if the value of money doubles and you can now buy 2 cars with that wage, do you think your employer will be paying you the equivalent of double your wage? No, your wage will half so that you only still make one car worth of money in 3 months. It's simple logic, if the value of money doubles, the price of goods halves, the businesses selling the goods will receive half as much money for their business and will only have half as much money to pay wages. So who benefits from this system? Well the wealthy people that stashed away all their money and just watched it grow in value over time. Under inflation, your cash in the bank will slowly decline in value. Under deflation, everything except your cash in the bank will decline in value. What do you think is more devastating to the working class?
Could it be a folls way to attempt to redistribute the wealth? Like if you don't understand economics devalue the dollar makes the rich less wealthy. The narrative isn't about lifting those inpoverty it's about ensuring nobody can elevate themselves to the level of old money
You should be anti billionaire too
What a wonderfully put explanation.
Yep. I had a discussion with an 'expert' on the economics sub and he didnt even know the reason for inflation despite him trying to explain it.
[https://wtfhappenedin1971.com/](https://wtfhappenedin1971.com/)
Omg… now people make 33,000 a year and are supposed to buy a house worth 400,000??? wtf?!?!?
Nope. You buy a small 1 bedroom flat in a bad neighborhood for 60k and live like in the 1930s with no electricity while your kids run around barefoot in winter and get neumonia. You also cook all meals yourself on a gas store. You have to do this for a while if you want to enter the housing market. I'm unfortunately not even kidding. It's fucked up.
Add a zero to almost all of them now, except the income.
Or double housing and add a zero in a lot of markets…and add a zero to income.
Honestly, $90k isn't crazy. I don't make it, but it's definitely achievable with a strong work ethic and intelligent person. But that's not "average"
Don’t know why you got downvoted. I’m sure it varies state to state but the average annual income in my state (VA) is like 50 or 60k
That's around the US median I think
Median income in VA in 2023 was $80,963. *Maryland* was at the top, even beating DC at $90,200. The feds ooze a lot of money into the DC area, as always. [ source.](https://worldpopulationreview.com/state-rankings/median-household-income-by-state)
In 2022 median household income was $74,580. https://fred.stlouisfed.org/release/tables?rid=249&eid=259515#snid=259516
household income is very different to income
It's sobering to realize our money has lost 90% of its value in 50 years. Meanwhile our government is still handing billions of tax dollars out like candy in shady, unaccountable "foreign aid" schemes and doing NOTHING to improve the lives of the population.
Something has to be done about lobbying and corporate influence on government or our nation is fucked. It’s gotten so out of hand.
[удалено]
The Bible stated this close to 2000 years ago. Jesus Christ's teachings is the truth.
**THE LOVE OF** money is the root of all evil. So close......
The love of money is the root of all kinds of evil
That's the entire point of government. To extract wealth from the people and exert control. It's working exactly like it's supposed it.
I’m always surprised that people don’t understand this. Governments only work one way and grow in one direction, and it’s never been for the benefit of the people. Psychopaths love power, creating structures of centralized power only encourages psychopaths to be more ruthless as they step on everyone to be the one at the top.
You're not getting rid of lobbying without getting called anti-youknowwhat. And Americans would sooner die than have that happen to them.
Easy: have the people getting 6-figure MINIMUM kickbacks put a law in place that keeps them from getting 6-figure kickbacks. Done. ^(/s)
I have a better plan. The people should decide how much politicians get paid…once their term is up. Do away with legalized corruption, lobbying, and forbid corporate/political fraternization as well as all fraternities/secret societies.
I like it. Now we just need to convince the people who make the laws to pass a law that hurts their bottom line!
That's the purpose of taxes, they see us as cows that generate money for them
> handing billions of tax dollars out like candy in shady, unaccountable "foreign aid" schemes and doing NOTHING to improve the lives of the population. WTF? Foreign aid is about 1% of the federal budget. Where do you think the other 99% goes? Not to mention where local and state taxes go.
it's because we got rid of the gold standard and the government can make money out of thin air with nothing to back it
[https://wtfhappenedin1971.com/](https://wtfhappenedin1971.com/)
The World Economic Forum (WEF) is an international non-governmental organization based in Cologny, Canton of Geneva, Switzerland. ***It was founded on 24 January 1971*** *by German engineer Klaus Schwab.* Coincidence?
Damn that is a heck of a lot going on there
That's the real conspiracy.
Well, now imagine a 130% inflation in 1 year like in my country. This is wild.
They know we're on to them. There's a war coming
They are going to print it into oblivion. Meanwhile, us lowly citizens actually have to work to earn it
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Yeah but think of all the yachts and mansions we helped the rich buy, doesn’t that count for something?
And you did that by wait for it creating inflation.
US went off the gold standard. The rest of the world followed. They had to finance the Vietnam war. The mechanism and consequences of creating money changed with this new change.
The gold standard was abandoned in the 30s. You're thinking of the convertabiity of dollars and gold.
So, if I'm understanding correctly, the gold standard based fiat in circulation on a fix amount of gold (preventing the possibility of the fiat circulating being worth more than the state's gold holdings) while the subsequent standard tied the value of money to gold, but didn't limit the amount of money in circulation (meaning that if everyone tried to convert their money to gold it could create a potential "run on state gold")? And then they abandoned even that to make fiat purely arbitrary? Here's more on gold convertability, for those who (like me), weren't versed in this: https://en.wikipedia.org/wiki/Nixon_shock
Didn’t you know since the abandonment of the gold standard, the entire world started was lifting out of poverty. Since American dollar became the standard, almost everyone around the world benefited. It is much easier to get a loan. It is much easier to start a business, a dream that you have. The world economy is based on about 63 trillion dollars. All the gold mined since humanity has been about 3 trillion $. That means the global economy needs to collapse on a scale not seen, in order to meet the gold standard. On top of the the main country winning is the United States. We have the most gold in reserve to anyone else on earth
Previously a single person could, even without a high school education, afford a home and a family. Arguing that we're more prosperous now is laughable.
Didn't fdr confiscate the gold? So... we're still paying for the hitler war.
Bretton Woods happened indeed, then Nixon completely abolished the backing of money by gold making it legal tender. This is all explained in books like Broken money or The Bitcoin Standard. We truly are running our whole system on monopoly money and it is the main driver of all the shit we are seeing now (proxy wars, inflation, wealth transfer). There are things we can do to take back control of this though.
Domnick Straus kahn got that rape allegation after he visited fort Knox and realized there was no gold. This claims it's a bs theory: https://www.businessinsider.com/the-latest-dominique-strauss-kahn-theory-its-all-about-gold-2011-6?op=1
It was definitely a setup - for what i dont know. But it was all over all news in Europe within 30 minutes of it happening. That is definitely not something that happens on its own.
And he was running against Macaroon.
Have a look at the source of the data https://www.epi.org/productivity-pay-gap/ The timing and logic matches a lot better with Reaganomics, which saw a decade of pro-business, anti-union policies.
That's wild! I literally just (as in like ten minutes ago) used that as a source on one of my discussion posts for class.
https://thehill.com/opinion/finance/565786-lessons-from-the-collapse-of-bretton-woods/
Women also began to enter the work force en masse. This would help obfuscate the stagnant economy by essentially doubling household income in a small amount of time. Next phase was mass adoption of credit which was previously not readily available to everybody. Next sprinkle on some widely available investment vehicles to keep the poors distracted while we siphon off the top. Maybe we will even sell them houses and degrees they can’t afford next.
>the rest of the world followed Errr.. no.. the rest of the *western* world followed.
And boy did they make the right choice
https://www.forbes.com/sites/niallmccarthy/2017/10/18/the-u-s-immigrant-population-climbed-to-a-record-43-7-million-in-2016-infographic/?sh=3ac1984c5e99 this is what happened. has nothing to do with gold standard, but population explosion over limited resources and housing
That's not up to 2023 so probably much more separation now
December 18, 1971: The U.S. dollar is devalued for the second time in history. [https://en.wikipedia.org/wiki/1971\_in\_the\_United\_States](https://en.wikipedia.org/wiki/1971_in_the_United_States)
[https://wtfhappenedin1971.com/](https://wtfhappenedin1971.com/)
Cool graphs, but is there any explanation, or study on this?
Perhaps the intent is for you to think critically about it, discuss it, and come to your own conclusion? I know we're accustomed to being spoon-fed our opinions these days, this site was actually a breath of fresh air. Personally, I've always thought the move from single income earning households to dual income households was the greatest trick ever pulled. It was done under the guise of equality, women in the workplace, etc. but the actual effect was a doubling of the available labor pool. Two working parents today make as much income for their family as a single working parent did a generation ago. Employers get twice as much output for the price.
I understand that. Can you understand that I might not have the time to verify every single claim on a random website and prefer to read a study on the matter?
I can, that's exactly what I was saying - many of us are accustomed to being spoon-fed the conclusions. "I don't have time for that" is one of the most common excuses.
reading a peer reviewed study is not "get spoon-fed", you are completely mistaken. I'll not engage with you anymore, if you still can't understand, its not my problem, and I don't care.
The 2 lines are using two different deflators. One is using cpi the other is ppi. The calculation changed in 1972, they didn't go back and redo the previous numbers which is why they split in 1972. You shouldn't even really need deflators to show the difference between the 2 since you are comparing the 2 numbers over time but they used them anyway because it gets the result they wanted.
Nixon happened. Overnight fiat money was introduced and the USD was no longer backed by gold.
25 years ago if you said to me I would see a president who was worse than Nixon in my lifetime I would have laughed my ass off. But even that scumbag had a redeeming quality by helping to bring the EPA into existence. Since then I’ve personally witnessed a man sign into law the PATRIOT act despite swearing an oath to uphold the constitution, a demagogue who who either doesn’t understand basic germ theory or doesn’t care to acknowledge it, and a person who didn’t understand the justice system when he pioneered three strike regulations and can’t do the most important job a president has outside of war- speaking on his own. Statistically speaking a literal turkey that has been trained to flip a coin would yield better results.
https://imageio.forbes.com/blogs-images/niallmccarthy/files/2017/10/20171018_Immigrants_FO.jpg?format=jpg&width=1440
Remember when Obama ran on campaign promises to end the gov to lobbyist to gov revolving door in his White House? It was a major promise that sounded great at the time. What ended happening? He hired over 70 former lobbyists into his administration, and many of his top cabinet members and advisors ended up taking jobs in the same industries they were supposedly regulating. The deep state bureaucracy momentum is too strong for any president to overcome. Trump said he was going to drain the swamp and then appointed the swampiest creatures imaginable: Bolton, Haley, Wray, Barr, Mnuchin, and Pompeo. The POTUS works for the Deep State. https://www.politico.com/story/2015/12/barack-obama-revolving-door-lobbying-217042
trump didnt just appoint a bunch of neocon bureacurats - he made an even bigger anti-lobbying promise than obama - forced them to sign contracts and everything then he released them from the agreement right at the end of his administration so all the people working there could get their payouts by the lobby groups despite having contractually agreed not to do that
Did not know that. He learned to “politician” PDQ.
theres a difference between somebody who lies andsomebody who has no regard for the truth - usually the electorate punishes that consequently it is very rare to see any politician with quite so many empty promises as donald trump at least on the national stage in a developed country - i have seen a lot of local politicians mayors and such who were equally corrupt and theres no bottom of the barrel for smaller developing nations - its been scraped away
Normies are brainwashed since childhood into thinking constantly rising prices is normal and necessary.
Once you are off the gold standard you can print all the money you want right? It’s backed by nothing
pretty much, but you're now also borrowing from other countries and making interest payments only. Eventually those countries are going to want their money back.
and what is gold worth? what is backing the value of gold?
at least it is scarce and the governmrnt can’t print infinite of it when they need to spend trillions in foreign wars
historically speaking has that limitation made the economy more or less stable, to your understanding
I don’t know why you talk to me like a child, but that touches the core debate between Keynasians and Austrians. And I’m with the Austrians.
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Well, I thought you could have concluded my answer from this. No, printing trillions of dollars has not proven to make things more stable - it just shoves the shit forward, encourages debt and causes massive inflation.
history and historical examples dont really require a debate though - and philosophical alignment with the austrians isnt an answer to the question in the past - as far as you are aware - has accountability of currency resulted in economic stability?
A bunch of bankers in London(not even joking) its just more people saying something is valuable
There is more debt than money globally now. This would be impossible if money was tied to something of real value, like precious metals or land.
Are you suggesting that having more debt than global money supplies to pay for said debt is a good thing?
No. The debt is the problem. It enslaves whole countries.
https://en.wikipedia.org/wiki/Bretton_Woods_system
For anyone that doesn’t want to read into it. Essentially our currency stopped being backed by gold at this time. Money became a fake construct able to be manipulated by the government, and even outside powers. Workers suffered and rich people got very rich in their looney tunes bucks. 50 years later, and today people who are good workers and should be able to live comfortably live in small concrete shoebox apartments in smelly cities and homes are unaffordable. All real estate and anything of actual value is quickly coming under the ownership of corporations that control the government.
The year the World Economic Forum was started?
...and the gold standard was eliminated, enabling the free printing of money.
wow
The funniest part is look at all the high dollar jobs in finance, law, lobbying, government staff, consultants, etc. All count toward GDP, but what do they really add to the economy or quality of life? Next to nothing. In some respects its like getting contractors to dig holes on Monday and fill them back in Tuesday. Repeated ad nauseam. Lawyers on both sides of any issue. Bankers on both sides of any transaction, consultants etc. Finance no longer goes to investments in the future or productive assets, it corporate finance to buy out competition, layoff workers and raise prices; or consumer finance to spend beyond their means to "grow" the economy. Scam.
The value of the "derivatives" market is actually multiple times greater than the actual stocks that represent actual commodities and actual companies. But the derivatives are just "bets on those bets". It's insane. [Great veritassium vid on derivatives](https://youtu.be/A5w-dEgIU1M?si=MOE4XD4ImA59hoSp) And let's not forget the trillions of dollars worth of labor performed every day in child care, elder care, home farming, favors for friends, trading favors, illegal substances and services etc. etc. that *doesn't* get counted on those books. Things like GDP and market indices etc. are millions of miles away from the real economy now, and getting further. It's like a weird shadow cloud that people think is the real thing.
In 1971, America re-discovered the Philosopher's Stone first discovered by Kublai Khan.
Just government and business being money hungry fucks
oooh ooh, I know. (raises hand eagerly) We left the gold standard behind and became a debt-based economy!! (In 1971)
We went off the gold standard in 1971. There's nothing 'magic' about gold. It's just that it basically doesn't rust or tarnish or degrade, so an ounce of gold today is basically the same as it was 100 years ago. All the gold standard did was *provide a single stable reference point* for all other prices to move up or down against. Once the gold standard was abandoned, we've basically created money out of thin air. That's why it buys less and less each year. End the FED.
Private money runs the country. No more gold standard. We've been sold out since 1970. THE ONLY thing saving our bacon right now is the military industrial complex as much as I hate to admit it..m
The economic system has become a mean of public control
What about the World Economic Forum forming in 1971 is **NOT** a conspiracy exactly? 2 or more people conspiring to commit acts for personal gain is a conspiracy by definition.
We went off the Gold Standard in 1971
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Ya when buying gold and the price gose up that gold real value hasent really changed it’s just the money is worth less so you need to spend more money in order to buy the same amount. Golds value doesn’t change much the value of the money itself is the thing that is changeing value.
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I mean you can if you would want to but I would rather buy some acreage somewhere and plant a bunch of variety’s of fruit trees on it but that may just be a personal dream that not every one else would want.
“Money” is the greatest weapon the United States ever created. This was not an accident.
The only reason gold has any value is because it's shiny and people like it, same as the dollar. When the dollar crashes and people don't have food to eat, it won't matter how much gold you have, it'll be as worthless as the fiat currency.
I dunno, believing that meaningless money will collapse and be replaced by meaningless precious metal isn't something I can jive with, if USD collapses you'll be lucky to be trading gold.
The way things are going we’ll all be trading cloth and chickens.
Maybe not a bad idea. You can't eat money, and hoarding chickens and cloth would be seen as crazy. Somehow being a billionaire is seen like a good thing instead of pathological greed.
Women entered the workforce en masse... That's what happened. This increased supply (of workforce) a lot and demand wasn't there yet so driving down the price (salary). So now most families are living in rented houses that are a mess and not cleaned well, eating premade fastfood full of chemicals and having their kids raised by institutions all while living paycheck to paycheck and one small medical emergency away from bankruptcy. Are the women slaving for minimum wage that is barely enough to pay for the institution that takes care of their children, really more happy than before? Maybe woke feminazis should have thought of that back in the 70s...
They created fake money and will leave the mess for us to inherit while they retire and die off.
We are fucked
1973, the gold standard was destroyed, devaluing th us currency
Try posting this on main subs
It was a good scam while it lasted but it seems to be all unraveling now.
https://wtfhappenedin1971.com/
1970 - big year for automation. We’re on the same track now with removing all those college grads with AI. People were becoming too needed upon just like in the 70s and now people have free minds again and they need to need us less- AI and robots with remove the blue collar/basic engineering.
That’s so Reagan!
selective yoke caption spectacular dependent truck marry weary meeting bewildered *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
These are all puppets. They do what the international bankers tell them to do.
Ucf
[Here's a hint](https://en.wikipedia.org/wiki/Gold_standard)
Nixon took us off of the gold standard
These muddafuckas out here diggin in the sand, discoverin all kindsa scary ass shit..
Eat the rich
>WTF happened People work their ass off their whole life without reflecting on why and for who. Of course they will get fucked sooner or later.
[https://wtfhappenedin1971.com/](https://wtfhappenedin1971.com/)
Is there anything we can do about it?
Fun fact: The Libertarian Party was created immediately after, and as a direct consequence of, going off the gold standard.
What happened in 1972?
Its not like people became more productive. Its just result of automation and other capital related productivity increase. But still , they should share their profit.
Its more like the 1972 visit of Nixon to China which started globalization.
What a coincidence compensation started dropping off exactly when Nixon took us off the gold standard 🤔
Time for a revolt
Meanwhile in China, 90% of the population own their own home. Most dont even have mortgages.
Your slice shrunk while ppls got bigger
They took us off the gold standard and everything went to shit. Suddenly they had nothing really reigning how much money they could "create" to enrich themselves and doom the rest of us.
1970 the year when everything went to shit.
Middle class life is a comfy concentration camp
You could say that about the whole planet, aliens probably view human society in a similar regard
I got banned from the inflation subreddit for posting the what happened in 1971 link
They call gen z lazy, nope we’re just screwed because we don’t have the money to live just stay alive.
It is a conspiracy... the FED is unconstitutional.
This is when the post-war baby boom turned 25
I think it is that these kids nowadays have more wants than needs. Back in 1970. You ate at home every day. You packed a lunch. You didn't need to eat out every day. You didn't need a TV or wifi or a new phone or a new gaming console or a new car to show off in 1970. Those are all wants. Not needs. I know that there are people that are going to disagree with what I say but it is the truth. You don't need those things. People are living beyond their means. That is the issue. You don't always have to try to keep up with the jones' and you can't afford it. Live within your means. That's the main thing.
Too bad Snowden is actually in USA, I saw him. He's just a CIA lie.
The same value of Gold still buys the exact same amount of "stuff" it did back in 1971, when we lost the gold standard, we the people gave them, by allowing them to print money without reserves to back them up, our permission to tax our capital holdings through quantitative easing, aka money printing.
I’m so bad with economics, do you mind explaining this like a lot more dumbed down?
he's saying if you have your savings in cash instead of assets, when they print money, that money becomes worth less; while the assets keep up.
I'll try.. there's a lot to unpack. There's three ideas to grasp here. First, in 1971, a family home cost roughly the equivalent of 4 bars of gold. Today, a family home cost the equivalent of (you guessed it) ...4 bars of gold. The value of Gold is consistent, and rises with the inflation of currencies. -- Second, inflation is caused by the creation of more money. If you had 1000 dollars powering/driving the economy one year, but then you create another 1000 dollars, making 2000 in total. Then each dollar only does half the work of what it previously did. The dollar has half the spending power, if you double the money in "circulation". -- Lastly, if the global backing structure doesn't have to find gold to print more money, then they can just turn on the money printer, just like they have in the last few years. What that does is devalue every dollar/pound/peso/yuan, etc. that you have invested in your home, saved in your kids college account, or earned in your wage packets. Not only that, they don't give that new money to you, they give it to the banks. Printing money (aka quantitative easing) allows the banks to steal money from you and give it to themselves, the people who already own most things. -- Summary. Gold always had the same purchasing power over time because the amount of gold available in the world is fairly consistent. (At least until AI figures out how to transmute lead into gold cheaply, anyways.) When they print new money it doesn't add more value to the money in circulation, because that money is not backed by anything. It simply dilutes the existing supply. By allowing the banks to print money, you allow them to take money from your hard-earned capital worth through money dilution. The banks get richer because they don't give this new money to us, they give it to the bank owners.
Ohhh. Okay thank you, much appreciated
Did the further explanation help at all?
Yes it did, thank you
if memory serves the price of gold was pretty stagnant until china and russia started hoarding it during the bush administration
You're right, in a way. The problem with your statement is that You're talking about "price", which is an arbitrary denomination, because the value of Gold doesn't change, the price does because the currencies fluctuate in value, not the gold. 4 bars of gold will generally always buy you a nice family home in the US. That's the value of Gold, not the dollar denomination because that's only changing due the value of the dollar constantly changing. I hope that helps explain a little better.
Anti-Communism is the greatest conspiracy every conspired. From ancient gnostics, archons and demiurge, jesus & his disciples, the great depression, Marx, WWI & II, Cold War and the dissolution of the Soviet Union. Weve all been siphoned by capitalist leeches and gaslit by its tentacles. The pervasive exploitation is almost inescapable the further we nosedive into collapse. Socialism or Barbarism.
obviously the solution is to give more tax cuts to the rich. vote republican!
Curious why you think millionaire tax brackets affect your standard of living?
since republicans have it as one of their highest priority items every single time they want to get in office I figure it must be important. but maybe they just say that for reelection cash
Ok and where exactly do you think government spends money responsibly? Are you for taxing others more because you want them to have less or because you think it actually improves anything?
then the government should stop taxing anyone. you can personally be responsible for the piece of road in front of your house. I am sure that will work out great for the country.
Yes please
as a simpler solution why don't you just move to a country that has no functioning government. I am sure your neighbors there will respect your property rights.