this post was submitted on 18 Apr 2024
782 points (98.5% liked)
Political Memes
5409 readers
3697 users here now
Welcome to politcal memes!
These are our rules:
Be civil
Jokes are okay, but don’t intentionally harass or disturb any member of our community. Sexism, racism and bigotry are not allowed. Good faith argumentation only. No posts discouraging people to vote or shaming people for voting.
No misinformation
Don’t post any intentional misinformation. When asked by mods, provide sources for any claims you make.
Posts should be memes
Random pictures do not qualify as memes. Relevance to politics is required.
No bots, spam or self-promotion
Follow instance rules, ask for your bot to be allowed on this community.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
No. Just libertarian nonsense, ending the gold standard ended the Great Depression. 1971 marked the total abandonment of it but it was over in practice in the 30's.
Edit: Not that I'm anything close to an expert, and despite that line I tend consider the idea that inflation is good to be class warfare, but that date is a correlation, not a cause.
What actually happened in the early 70's was the Vietnam War and the rise of neoliberalism, until it seized the reins of power with Carter and Reagan.
And, yes, Carter was the start of the decline. Reagan actually had quite a few policy overlaps with him, he just hated brown people, unions, and commies a lot more. Carter might have meant well, and he's certainly got less blood on his hands than most Presidents, but the path was set regardless.
I think there's probably a pretty good argument that that final abandonment of gold sealed the doom of economic neoliberalism and modern monetary policy, but the reality is the people who push that idea are generally trying to sell you crypto and silver.