What happened in 1971 that set us on the road to perdition and debt enslavement?
(media.patriots.win)
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US dollar no longer tied to gold
Bingo
Pretty close fren. The petrodollar eliminated the need for gold standard
For some reason I thought that a big motivator was France came to call for gold in exchange for dollars and rather than pay up we decided to totally exit from the Bretton Woods Agreement?
Ok, here's some sauce: https://scholarship.law.columbia.edu/cgi/viewcontent.cgi?article=3545&context=faculty_scholarship and something more TL;DR : https://mises.org/wire/today-1971-president-nixon-closes-gold-window
I think France's relative energy independence gained from their near total reliance on nuclear had a lot to do with this schism but I forget why. Also I think France wasn't totally on board with backing Israel and was also selling arms to Mid East countries.
and FEDERAL RESERVE. (Creature From Jekyll Island)
Search Breton woods if you’d like to know more
The US dollar became a crude oil based currency, rather than gold. We forced all oil barrels across the world to be bought and sold in USD, turning our fiat currency into a commodity.
The Immigration and Nationality Act of 1965
Nice mention here, but the affect of that were not tied to this 1971 inflation. We still feel the effects of this act, however here it was the oil embargo’s starting where the sand dwellers decided to flex their muscle.
Who do you think enabled them to take us off the Gold? The ' immigrants ' who came and voted enough Dems into office.
Back in the 70s the house and usually senate were always controlled by dem rats.
The dem rats controlled the house from 1947-1995
Gold standard, women in the workplace, and computers nuked the purchasing power of the dollar.
Labor supply doubled, demand dropped, and the dollar lost value.
And the Fed started printing money like there was no tomorrow.
Listen I'm about retarded when it comes to the economy and finances but even I clearly understand how we can't just keep printing money and how it causes hyperinflation. The dems have to know this will cause a crash, but they just don't care.
They plan on cashing in after the crash, with their Great Reset.
Anyway we can fix it at this point?
Something that people don't appreciate is that we've become in practical terms much much poorer across the west. In many respects ten times poorer. All this immigration which is supposed to be making our economies far greater doesn't add up when prices have been rising faster than wages for the most essentially commodities.
Specifically house prices, these are among the worst. One of the things driving them up is immigration. A quarter to half the money average people make in their life time disappears into their house or rent or many other sinks. It's not just the amount but the amount of time. People can spend ten to forty years tied down with a mortgage.
There is now a stupid amount of money tied up in housing. Tens of trillions, hundreds world wide. It's really all artificial though. If you fix house prices then that's some tens of trillions gone poof.
People seem to forget but we're stuck in a perpetual economic catastrophe. I remember some decades ago people treated house prices like the catastrophe it was but at some point just decided to ignore it. A lot of people forget about it and overlook that there's a liberal elite on the housing ladder which has become a pyramid scheme of sorts that need to keep shoving in immigrants to keep the prices rising and rent coming in.
You've got a generation back or so that had loads of disposable income on a single pay check and only had to save for a few years for a house. Now you have a generation where their disposable income is creamed off them at every turn making it hard to save and they have to save for decades to be on track to afford the necessities and basic securities of life.
People have run the numbers and the generation now is two tier with an increasing peasant generation and landlord generation where one pays most of its income or large proportions of it to the other. Virtually everyone could afford a house a generation or so ago but now when we run the numbers we see millions that will never escape wage slavery or rent slavery that would have in previous generations.
In addition to that abodes are shrinking dramatically. You'll be very lucky to get a house with plenty of space for kids, guests and other things.
Also, what about all the things young people believe they need, but really don't. Smart phones are actually really expensive, yet everyone somehow seems to have one. What about multiple TV streaming services? What about Computers? No wonder we've become enslaved.
The funny thing about smart phones is that even if they're stupid expensive now they're also kind of not. If you pay $1000 for a smart phone well that's a lot but at least if it lasts for five years it's not a big deal.
Smart phone users are being tricked into buying a new phone every year sometimes renewing their contract thinking it's free when it's not it's being paid for on financing and bundled in with your monthly payment.
The price of contract free phones is also deliberately marked up and I think that kind of price fixing should be illegal.
Phones these days have non removable batteries that are significantly weaker after 1 year and virtually useless after 2 years.
"Planned obsolescence"
Iphones maybe. Or just cheap shit. My Samsung is coming up on 2 years, and I can listen to music at work for 9 hours, plus surf the web on breaks and still have 55 or 60 percent when I leave work.
I think a significant portion of our incomes are now spent on insurances.
Why I still do not aspire towards home ownership AKA renting land from the county and a bank
There's only so much individuals can do to escape and avoid it. Ironically the situation is worst for the urban lower classes in cities. Anyone with a bit of common sense would stop mass immigration to help slowdown or slowly deflate house prices.
Those damn house flippers have a lot to do with inflating real estate beyond what's reasonable for the average American. On top of that you get the Parks and Recreation municipal government slugs who pull down ridiculous salaries while driving up property taxes and instituting all kinds of nanny state rules and HOAs (suburban Karens).
Completely agree about mass immigration. So many times I see houses with like 15 cars outside of a 3BR and immediately I know it's probably packed full of illegal Guatemalans and Hondurans who clog up the sewers and send their kids to schools while they pull down poverty benefits. It's a damn shame.
A lot of people in the left are in denial of reality. There are underlying problems that are real but they tend to choose the same people that reinforce it, the same solutions that also make the problem worse in a feedback cycle. They also want to blame the wrong people, usually people who haven't done anything wrong just haven't found themselves in those circumstances and want to bring them on board.
There are so many truths to reality they just can't accept and do themselves in. Life is getting more expensive. I can tell you from an urban perspective literally everyone now has to get a university degree for education. Sometimes this was a false perception but it is being ratified (now they're saying all police officers need a degree).
Once for 90% of people public education was enough but then the left primarily mandated to try to have 50% of the population educated at university level as a goal and you're seeing that happening. Life is much worse. 5 GCSE's at public education level isn't enough anymore to almost guarantee success.
I'm not sure how anyone can say that life is better like that. It's the same as feminism making it so some women could work that didn't have to before to now many women, approaching most women must work.
The thing is as well that this education really isn't necessary, increasingly so nor need to be so expensive. The more of it you have the more of it is necessarily unnecessary.
Who is the one now saying to cancel student debt? The same political class responsible for this and that made the problem in the first place.
The detachment from the left and reality is huge. I can understand it being a bit harder for people not in the midst of it to quite understand all of the problems but the left are the most in denial despite it being right in front of them.
I can give you a fun thought experiment. You raise two kids, seeking to operate at replacement level. You invest in all the resources and time to cloth them, house them, feed them, get them educated, etc. However in 16 years, actually not perhaps 21 years, when they go out into the real world all those opportunities were seized upon because companies could just cheat and import people forgoing the whole huge investment in having children and come in to seize all the opportunities. By the time your kid that you've invested more and more in goes out into the real world there's nothing but scraps because of the import of people. Usually from places where it's also much cheaper to raise people.
Usually people who can come in and send money home because things like houses are half the price or much less and can buy security back home very quickly on a western wage.
The contention in cities is driven up so high that it squeezes people out of existence.
Four of our children bought their first homes in the last 12 months. Ages 20-30. None of them received any financial assistance from us.
I'm not really sure what your point is. If I pointed out for the sake of example there's now one bowl of rice per person rather and it used to be five bowl of rice per person then you say you're kids managed to get ten bowls of rice each that just makes you look like a bit of a snob.
It's also this kind of nonsensical and dangerous thinking you see in the left that has no real grasp of what society is like for each person nor how it varies. If they take all the opportunities and give them to immigrants rather than the next generation less and less people are going to have the opportunity your kids might have had.
That's just a fact, things are divided among the people. There isn't a magic resource tree and people don't magically conjure up money or wealth.
There is not a finite amount of money. The average salary went up 5x. The cost of an average house went up 5x. In essence, nothing changed.
That's not true for much of the west. The USA may have larger pockets less effected as it has a far lower population density. You should however take a look at what's happening in pockets of contention and what has happened in other western countries to get an idea of what's in store for you especially under left wing rule.
The USA is a good way behind us on the curve though if you look in a lot of areas and the growth rates it's on the same curve and in a lot of areas that's starting to sink in. You also need to be careful to look at which statistics actually matter. Median versus average and in which areas, for example the areas where there are the most jobs.
Some of the effect is hidden because the cost of useless housing goes down while the cost of critical housing goes up. I remember this from years ago the left screaming on about their being millions of empty houses and how they are geniuses because of statistics but neglected to mention many of those houses there's nothing there. No jobs, no way to make a living, just a house. Affordable housing where you can't afford it.
When you're talking about an entire society you can't take one person's case study and use that as the model for the rest. Countries are huge and complicated. Do you think Steven Crowder's success story is a good model for the average person? The average person can be Steven Crowder? Can we have twenty million Steven Crowder's? The left however have no idea what they're doing half the time. They need immigrants to boast the economy? Then salaries go down and house prices go up. The darkest element of this is that they're doing it to themselves at this point.
Good kids. Good job raising them. My daughter got one at 25... Graduating high school, getting married and then having a baby for the win.
Wow you really hit spot on why I’m moving into an rv conversion.
The American dream has become a trap for sheisters and conmen to bleed you dry at every turn.
Maybe for some it’s attainable and worth the constant cost, but for many of us it’s just a mirage.
Money printer go burrrrrrr
https://wtfhappenedin1971.com
Came here to say exactly that.
A houses cost 2.5x annual salary in 1971? So, using the same methodology.... if you make 50k a year now a house should run you 125k.
Good luck finding a decent house for 125k in many parts of the country
If you get out of the city, and out of Democrat run counties, you can find plenty of good houses for that kind of money. Yes, you may have to drive further to work, but it's a trade off, and it's how my wife and I have lived our entire adult lives - it's worth it!!
Or to look at it another way, the average house now is approx $295,000 in the country. That means the average salary should be $120,000. Right now the average salary across all groups and professions is $51,000 - less than half. Inflation is wrecking the middle class.
Remember too, that modern houses are 2-4x the size of houses built before 1975-ish. This chart may be the cost of a basic, small dwelling.
SO and I, and the 6 siblings we have between us, were raised in homes under 1000 square feet. Both built in the 40's.
New homes being built near me start at low $300k and run about 2500-3500 square feet. Figuring the lot is worth $25k, a 1000 square foot house might be built for $100-150k, which isn't too far off the chart.
People are buying more house than they need or can afford. Try finding any builder willing to build small without extreme customization though. Profit is too low for their time.
I've been hearing about this for years but now it seems to be a real thing.
3-D Printed Homes
3-D Printed Home Can be constructed for under $4,000
https://youtu.be/wCzS2FZoB-I
Gas cheaper than milk...
There were regulations on the price of gasoline that were lifted in the 80s.
Well it's something straight out of fiction for me living in Europe where fuel is two times more expensive than milk
That was still the case in non-retarded states a few months back. I was paying under $2.00 a gallon for most of 2020
Consumer electronics were outrages back then. A 25" color tv would have been around $400 back then.
a four function LED calculator would have cost about the same
I'm not even sure that was out yet. The first time I saw one was around 1976. A friend of mine's dad was an architect and had a basic calculator in his office. I was amazed.
http://www.vintagecalculators.com/html/busicom_le-120a_-_le-120s.html
Nixon took us off the gold standard. Another short-term government program that seems to stick around forever
Nowadays...
New House: $100,000 even for a tiny dump in the middle of nowhere, $400,000+ for anything decent near a city
New Car: $30,000+
Average Rent: $1,000/month even for a studio apartment
Tuition to Harvard University: $85,000/year
Movie Ticket: $10
Gasoline: $3.25/gallon
Compared to today's increased average household income, those increased costs seem pretty much in line with an inflated currency.
inflation is the main driver
That's a cheap movie ticket.
Movie tickets are $13-$18
The central banks are deathly afraid of crypto currency (and gold and silver)--no one would need their services/system anymore...bring it on!
19711913Nah, nobody here got it. It’s Medicare, Medicaid, and the other social programs introduced by the racist LBJ.
The entire world's money system has been a Ponzi scheme for a long time now and we're living through the end-game. This is why the elites want their 'Great Reset'. Stock up on durable goods, dried and non perishable foodstuffs, guns and ammo, precious metals, and food growing equipment.
Good luck, everyone.
This is my take too. Become as self sufficient as you can, store food, and hard assets. Things are going to get tough soon. My stimulus money is going to prepping for hard times.
This was after over 10 years of huge budget deficits incurred on things like the Vietnam War.
The Gold supply at Fort Knox was shrinking rapidly and would have disappeared completely.
After the 'summer of love', people stopped paying attention.
massive inflation, excess taxes/regulation, MASSIVE liability issues. It was WAY easier to live on your income then than it is now. new house like 2.5 x average income? that's probably like 5 to 10x now. healthcare costs are absurd. child care? literally unaffordable. and not that it matters but a pack of cigarettes is like $8 or more. i worked in gas stations around 2000 and it was around $3 then. The government ACTIVELY makes everything more expensive. they are trying to make gas unaffordable so people will stop driving as much for example.
The Ice Age?
I question their new house price. In 1976 we bought a new home in a outlying county from St. Louis - about 1/2 hour and paid $45,900 for it. This area is always at the lower end of the housing market.
My family bought a 5 bedroom house in a nice neighborhood for $31,000 in 1971
Adjusting for inflation, prices haven't changed much. People love to complain about the cost of stuff because they are broke because are absolutely retarded with their money.
I was born.
I am very sorry.
Go back 100 more years
Got rid of gold standard!
Multiply everything by ten and it is almost what we have today 40 years later. The exceptions are average income and college tuition.
Saved under "Informative."
Oh, I know this one, (((they))) started running the federal reserve, no seriously.
Nixon took us off the gold standard
From 2-27-2019, check it out. It's a good thing the banks/bankers have been stripped of their diplomatic immunity (thanks POTUS Trump):https://www.icij.org/investigations/world-bank/world-banks-legal-immunity-stripped-opening-door-for-lawsuits/
Nixon, Ford, and Carter happened. None of them had a clue what was necessary to fix the economy.
Nixon ended the draft and won the election in 1972. This is why the cabal got rid of him. They could not kill teenagers anymore. They emptied out ghettos and blue collar areas and turned them into cannon fodder in Vietnam.
Add a zero to everything. Average income should be $106k+. You need $120k to offset some of the tax burn.
The start of the downfall was the creation of the FED. That's when we all became slaves of the banking industry. We were warned about it by the founders.
“And I sincerely believe with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.” -Thomas Jefferson to John Taylor, 1816
“Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice.” -George Washington to J. Bowen 1787
“Bank-paper must be suppressed, and the circulating medium must be restored to the nation to whom it belongs.” -Thomas Jefferson to John Wayles Eppes in 1813
Fucking Nixon allowed us to be taken off the gold standard... made up fiat forever!
Lets get on the bitcoin standard.
GME standard.