Fallout from the removing of the Gold standard...

X' Marks The Spot - Wages Started Losing When The Dollar Delinked From Gold In 1971

"... it would be invaluable for the left to begin to come to terms with the crucial role the gold standard played, and again can play, in restoring a climate of equitable prosperity."

"As it happens, “X” correlates with Nixon shutting down the Bretton Woods gold standard in 1971 and the epic failure to get it fixed and restored in 1973. The drag, after a modest lag, filtered into the working economy. The rest is persistent stagnation for median families."

"It was the destruction of the (dilute) gold standard which precipitated the death, or at least long coma, of the American Dream. That, in turn, caused the ensuing degradation “in our moral, social, political and economic values” as America turned Hobbesian."

"Therefore, I respectfully ask that progressives open their hearts to exploring the possibility, just the possibility, that the gold standard would go a long way toward restoring both economic prosperity and economic justice for all..."

Read more : http://www.zerohedge.com/news/2016-06-13/x-marks-spot-wages-started-losing-when-dollar-delinked-gold-1971

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