missingnoEvery graph about the US
Every graph about the US
AirBreather
WTF Happened In 1971?
https://inflationdata.com/articles/2022/08/10/u-s-cumulative-inflation-since-1913/ "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 the hands of government, all we can do is by some sly roundabout way introduce something that they can't stop." - F.A. Hayek…
WashedupcynicFor those that don’t know, 1971 is when President Richard Nixon ended the convertibility of U.S. dollars into gold for foreign governments. The final abandonment in 1971 moved the U.S. to a pure fiat money system, where the currency’s value is based on government decree rather than a physical commodity like gold.
Reagan slashed taxes for the wealthy and introduced the whole idea of trickle down economics.
These fuckers have been stealing from us for half a century.
The Currency’s value is not based on government decree but they do have the ability to alter it by changing the money supply though the value can change independent of their actions. Frankly, having a fiat currency that represents a portions of that nations economic output makes alot more sense than something like precious metals but the guardians of that fiat currency in the US have class interests that stand at odds with most of the country and the use of the US dollar as a reserve currency was a temptation that America couldn’t handle.