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Very frustratingly vague page. I think it's supposed to be implying that this happened: https://en.wikipedia.org/wiki/Nixon_shock https://en.wikipedia.org/wiki/
by burkaman 3y ago
Very frustratingly vague page. I think it's supposed to be implying that this happened: https://en.wikipedia.org/wiki/Nixon_shock https://en.wikipedia.org/wiki/Nixon_shock, and that bitcoin would somehow fix all these issues.
Anytime someone just lists a bunch of graphs without telling you which graphs they left out and what their analysis is, you can probably ignore them. Even in many of these cherry-picked graphs, 1971 appears to be in the middle of some ongoing trend and is not an inflection point.
- mikhailfranco 3y agoYes, and No. Something happened, for sure. Presenting raw charts is a Rorschach Test for what you might imagine is the cause. The trend, in the US, was catastrophic deficits, caused by guns (Vietnam War, Apollo space program) and butter (Great Society and welfare). An unsustainable trend is ... unsustainable. Something broke... The French raided the gold from Fort Knox, Nixon called it.