Odd to see no discussion of gold. In 1971 the dollar began to float in relation to gold. For most people operating in the realm of dollars their net worth decre

Odd to see no discussion of gold. In 1971 the dollar began to float in relation to gold. For most people operating in the realm of dollars their net worth decreases as the dollar price deviates from gold. For wealthy individuals, most of their wealth is not in dollars but in property and equities. As the value of the dollar decreases, asset prices increase - great if you own assets, bad if you just own dollars. Not that gold is the be-all, end-all of real money, but in the past when people owned dollars, they effectively owned a commodity with utility. Meanwhile, at the top, the wealthy are largely paid in equity with a much smaller portion of income in dollars.