WTF Happened in 1971?! The Surprising Consequences of Moving to Fiat Money for the US Middle Class
WTF happened in 1971?! Check out the video to learn why!
Welcome back to Bold TV with Ashton Cohen. Be sure to like, comment, and subscribe to Bold TV for all things Bold.
It's a question that a lot of people have been asking, and it's also a movement that attempts to raise awareness about the absurd effects of the United States' departure from the gold standard in 1971.
The value of the dollar plummeted, and government printing and expenditure began to soar, once we departed the gold standard.
As a result, inflation has soared since 1971, and the US dollar has lost nearly 90% of its value in comparison to gold.
Prices have gone parabolic since we abandoned the gold standard, as measured by the consumer price index. Rich people decided to secure their wealth by exchanging their dollars for hard assets like real estate and equities as a result of the move away from the gold standard and toward a fiat system. This resulted in a tremendous increase in the value of these assets.
Since 1971, there has also been an enormous disparity between property appreciation and income in America's most coveted cities.
You can also see many hours an average American must work to acquire a share of the S&P 500 index. And, of course, the end outcome of all of this is insane levels of wealth inequality.
The income disparity between the ordinary American and the top 5% of earners since 1971. But that's not all: the end of the gold standard, the depreciation of the dollar, and the consequent wealth disparities have altered American culture in a variety of ways.
Our politics, in particular. Since 1971, our two major parties' political division, which has increased.
Can we blame America's current difficulties on the end of the gold standard? Let us know in the comments below.
Make sure to subscribe to Bold TV, and follow us as we keep you up to date on all the latest news.
Subscribe to BOLD TV: https://rb.gy/rotbrq
Subscribe to Ashton Cohen: ELECTile Dysfunction Podcast on Apple Podcasts: https://podcasts.apple.com/us/podcast/ashton-cohen-the-electile-dysfunction-podcast/id1565208599
Subscribe to Ashton Cohen: ELECTile Dysfunction Podcast on Spotify: https://open.spotify.com/show/6siXVSwM2OWz3itH90YRNA?si=v5MUMEpwTSG_sVGPOKHP8w
Subscribe to Ashton's channel on Youtube: youtube.com/c/ashtoncohen
Follow on Twitter: https://twitter.com/theashtoncohen
Follow on TikTok: https://vm.tiktok.com/ZM8nQjHta/
Follow on Instagram: instagram.com/theashtoncohen
Follow on Facebook: https://www.facebook.com/theAshtonCohen
#bitcoin #finance #history
-
14:53
Winston Marshall
4 days agoTrump Just Said THIS On X...It Will Surprise You!
108K80 -
38:37
Patriots With Grit
14 hours agoRestoring Our Republic: Taking Back Our Border | Kim Yeater, Eddie Cornell & Scotty Saks
78.5K12 -
51:54
TheTapeLibrary
1 day ago $5.56 earnedDisturbing Haunting of a Witches' Prison | The True Story of The Cage
65K8 -
0:30
steveinman
1 day agoBrotherly Love
100K8 -
2:58:53
Jewels Jones Live ®
1 day agoVIOLENT RHETORIC | A Political Rendezvous - Ep. 92
109K58 -
1:13:17
Exploring With Nug
1 day ago $8.64 earnedMissing Person's Remains Found In Virginia Well
101K40 -
2:00:56
Tate Speech by Andrew Tate
21 hours agoEMERGENCY MEETING EPISODE 76 - GYAL DEM
359K558 -
23:06
MYLUNCHBREAK CHANNEL PAGE
1 day agoThe Old World is in The Catacombs? - Part 3
90.4K39 -
LIVE
Right Side Broadcasting Network
5 days agoLIVE REPLAY: Pres. Trump Holds a Rally in Wilmington, NC on Jobs, Inflation, & the Economy - 9/21/24
3,571 watching -
47:18
Vigilant News Network
1 day agoShocking Details Emerge About Trump’s Would-Be Assassin and “Wife” | The Morning Catch Up
99.7K70