1971: The year they broke money | Boing Boing


It’s already been hard to ignore inflation this year without the added stress of the holidays. Watching your money buy less and less each year is one of the disheartening realities of adulthood. However, that’s just the price we have to pay to live in the capitalist, Western world, right? Inflation is perfectly normal, right?

Bretton Woods is a topic that is suspiciously absent in virtually any history class, despite being one of the most pivotal moments of the 20th century. In 1971, the US dollar turned into a fiat currency and created the current system of endless inflation that we’ve come to accept as a byproduct of our Western lifestyle. Unfortunately, that’s far from the truth.

In the video linked above, YouTuber Jake Tran provides a history lesson that explains how 1971 and the end of the Bretton Woods system created the perpetually widening gap between the have and the have nots. If you want to learn how your money became weaponized to work against you, give the video a watch.





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *