What Happened in 1971?

Ethink: To understand what exactly happened in 19 71, you really have to go back a lot further to understand what a gold standard really was. In 18 hundredn all sorts of banks could issue these, and sometimes those banks would fail. And every time the bank failed, it was because there ended being more paper floating around than there was gold. The first real big systemic default of golds came in 19 33 with f d r, the new deal. So this is the idea of liking mu. Some you hear bick owners talk about, like, we have these forest fires that clear out the brush,. And if you always constantly put out every single forest fire, then a massive