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It also coincides with the end of the Bretton Woods system, the last remnants of a gold standard in 1971. From there it was fiat currency, adoption of the U.S.
by brbsix 10y ago
It also coincides with the end of the Bretton Woods system, the last remnants of a gold standard in 1971. From there it was fiat currency, adoption of the U.S. dollar as reserve currency to the world, and rapid globalization.
- Spooky23 10y agoGreat point, I forgot about that in this context. Also the broad availability of consumer credit.