4 ms·
Actually a lot of today's realities can be traced curiously back to 1971 or the year before or after that. Consider the following: * End of Bretton Woods Syste
by rexreed 4y ago
Actually a lot of today's realities can be traced curiously back to 1971 or the year before or after that. Consider the following:
* End of Bretton Woods System - "On 15 August 1971, the United States terminated convertibility of the US dollar to gold, effectively bringing the Bretton Woods system to an end and rendering the dollar a fiat currency" [0]
* The Global War on Drugs - "The initiative includes a set of drug policies that are intended to discourage the production, distribution, and consumption of psychoactive drugs that the participating governments and the United Nations have made illegal. The term was popularized by the media shortly after a press conference given on June 18, 1971" [1]
* Nixon's Southern Strategy that shifted the Republican base to the South 1970-1971 [2]
* Nixon' Visit to China and the Chinese economic reform, which resulted in China being the major economic power it is today, visit planned on July 15, 1971, visit in early 1972 [3]
* The Defunding of the Apollo program - "In August 1971, just after conclusion of the Apollo 15 mission, President Richard Nixon proposed canceling the two remaining lunar landing missions, Apollo 16 and 17." The two remaining already planned missions were completed, but the program ended in 1972 thereafter. [4]
Now you might say, correctly, that every presidential term has major, world-shifting elements that are consequential. However, something happened specifically in 1971 and 1972 across a very broad set of circumstances to global economics, trade policy, criminalization, space race, politics, and more, not to mention the Watergate affair which was during the 1972 campaign. These years were absolutely pivotal to where we are today.
Further follow-on actions to the above included the devaluing of the dollar in 1972, vetoing of US National Child-care (1972), continuation of the Vietnam war, Phase I and Phase II price freezes for wages and costs (1971, 1972), Economic Stablization Act of 1971[5], Revenue Act of 1971 [6], and more. 1971 was a hot year indeed.
[0] https://en.wikipedia.org/wiki/Bretton_Woods_system https://en.wikipedia.org/wiki/Bretton_Woods_system
[1] https://en.wikipedia.org/wiki/War_on_drugs https://en.wikipedia.org/wiki/War_on_drugs
[2] https://en.wikipedia.org/wiki/Southern_strategy https://en.wikipedia.org/wiki/Southern_strategy
[3] https://en.wikipedia.org/wiki/1972_visit_by_Richard_Nixon_to_China https://en.wikipedia.org/wiki/1972_visit_by_Richard_Nixon_to...
[4] https://en.wikipedia.org/wiki/Apollo_program https://en.wikipedia.org/wiki/Apollo_program
[5] https://en.wikipedia.org/wiki/Economic_Stabilization_Act_of_1970 https://en.wikipedia.org/wiki/Economic_Stabilization_Act_of_...
[6] https://en.wikipedia.org/wiki/Revenue_Act_of_1971 https://en.wikipedia.org/wiki/Revenue_Act_of_1971