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   Poul-Henning Kamp (bsdphk@fosstodon.org)'s status on Thursday, 16-Jan-2025 04:04:56 JST Poul-Henning Kamp

   This website asks what happened in 1971, showing a lot of graphs:

   https://wtfhappenedin1971.com/

   The answer is: Rich people started treating other people as things and focused only on money.

   • Embed this notice
     ploum (ploum@mamot.fr)'s status on Thursday, 16-Jan-2025 04:40:45 JST ploum

     in reply to

     • slash

     @agreeable_landfall @bsdphk : no need to look all the list. All the graph refers to one single thing: unilateral end of Bretton-woods agreements by USA, which ended the dollar/gold standard.

     At that point, the dollar became a virtual money which means it could be manipulated arbitrarily.

     All the graphs on the website can be summarized: "banks had sudden access to an infinite-money glitch and used it for their best customers, aka the rich people"

   • Embed this notice
     slash (agreeable_landfall@mastodon.social)'s status on Thursday, 16-Jan-2025 04:40:46 JST slash

     in reply to

     @bsdphk 1971 was a _significant_ year. Just scan through this:

     https://en.wikipedia.org/wiki/1971

   • Embed this notice
     ploum (ploum@mamot.fr)'s status on Thursday, 16-Jan-2025 04:42:39 JST ploum

     in reply to

     • slash

     @agreeable_landfall @bsdphk : the worst of all is not that it is some kind of historical accident.

     It was done on purpose.

     All the graphs are exactly what the people who ended bretton-woods were trying to achieve.

     There’s no complex theory here. It’s very straightforward.