The Day the Dollar Died

[malaise]

http://www.youtube.com/watch?v=EtwmjcsQi1E

Sometimes I wonder how the world's best musicians seem to understand what's going on better than the professionals. Tosh wrote this in 76 - five years after the the US suspended convertibility from dollars to gold. Then came Reagan and Thatcher and here we are today about to bury Friedman, Hayek and their fucked up neoliberalism.

[seemslikeadream]

1. How'd I miss this?

:hi:

[roamer65]

2. We have Tricky Dickie to thank for the dollar's death.

He is the one who ended the gold exchange standard in August 1971. People like to blame FDR, but it is not FDR who turned the dollar into a fiat currency. He simply revalued against gold.