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Vlad_The_Impaler on scored.co
1 day ago3 points(+0/-0/+3Score on mirror)2 children
AI says there weren't really any reports of protests. Can anyone verify?
>There is no evidence of widespread public protests in the United States when President Nixon ended the convertibility of the U.S. dollar into gold on August 15, 1971. The announcement, known as the "Nixon Shock," was met with a largely positive reaction domestically, as it was seen as a bold move to address inflation and economic challenges.
The decision was made without prior consultation with international allies, which caused dismay among foreign governments and financial leaders, but not significant public demonstrations within the U.S..
The international community viewed the action as a unilateral and disruptive shift in global economic policy, but the domestic response was generally supportive, particularly among the American public who welcomed measures like the 90-day wage and price freeze aimed at curbing inflation.
AI-generated answer. Please verify critical facts.
Since the U.S. stocks are denominated in dollars, and Nixon gave green light to massively inflate, then of course stock shares are going to increase in price. This is what tricks people. Your stock shares didn't increase in fundamental value. They only increased because it takes more of the funny money to buy the same thing.
Remember we used to go to arcades? The arcades sometimes made you turn dollars in for their tokens. Even as kids we knew the arcade tokens were worthless outside of the arcade.
>AI says there weren't really any reports of protests. Can anyone verify?
Converting dollars into gold was something only foreigners did, since FDR had made it illegal for Americans to own gold coin or bullion back in the 30s. So I'm not seeing any reason citizens would have protested that loophole being closed. And did anyone even protest when FDR stole all their gold during the depression?
I don't go back to '71 but my grandpa wasn't happy about it. I'd reject on its face any publication that claims to know the general public's opinion.
They either are lying to create a bandwagon effect, or they have homogenized many opinions down to just one, which is inaccurate. There are always multiple sides to anything, and always proponents of each side.
To say "oh, the stupid Americans loved it" is a cope.
>There is no evidence of widespread public protests in the United States when President Nixon ended the convertibility of the U.S. dollar into gold on August 15, 1971. The announcement, known as the "Nixon Shock," was met with a largely positive reaction domestically, as it was seen as a bold move to address inflation and economic challenges.
The decision was made without prior consultation with international allies, which caused dismay among foreign governments and financial leaders, but not significant public demonstrations within the U.S..
The international community viewed the action as a unilateral and disruptive shift in global economic policy, but the domestic response was generally supportive, particularly among the American public who welcomed measures like the 90-day wage and price freeze aimed at curbing inflation.
AI-generated answer. Please verify critical facts.
Since the U.S. stocks are denominated in dollars, and Nixon gave green light to massively inflate, then of course stock shares are going to increase in price. This is what tricks people. Your stock shares didn't increase in fundamental value. They only increased because it takes more of the funny money to buy the same thing.
Remember we used to go to arcades? The arcades sometimes made you turn dollars in for their tokens. Even as kids we knew the arcade tokens were worthless outside of the arcade.
Converting dollars into gold was something only foreigners did, since FDR had made it illegal for Americans to own gold coin or bullion back in the 30s. So I'm not seeing any reason citizens would have protested that loophole being closed. And did anyone even protest when FDR stole all their gold during the depression?
They either are lying to create a bandwagon effect, or they have homogenized many opinions down to just one, which is inaccurate. There are always multiple sides to anything, and always proponents of each side.
To say "oh, the stupid Americans loved it" is a cope.