The History of Gold

Prior to 1968 the US had really no circulation credit on the economy everything every dollar of debt that was issued was commodity credit then what happened guns and butter came along okay. Then we started cheating and it resulted in the French calling their goal back and Nixon closing the gold window but what's fascinating is if you if you look at the debt growth and when I say debt what I'm looking at specifically is non-financial sector debt. Everything that goes through the financial system is just circulated out it's just an intermediary out to the real economyOkay so and the debt growth in the 1970s was not that high yes we broke the tether, right? We were able to keep inflation under check because it