The "American Dollar", was once backed by Gold, which back in the early 1970s POTUS Richard Nixon removed America from the "Gold Standard".
The American Dollar then became backed by nothing more than "A Promise to Pay"!
In 1974, I started a job, as a HVAC Helper, making $1.74 an hour, & "If/When" I could get 10 to 15 hours overtime, even though America economically was struggling, with gasoline going above >>>.49 a gallon<<< due to the "Oil Embargo", a loaf of Bread costing .36, Steak per pound being $1.65, with Hamburger being approx. $1.10, A 5 pound bag of Sugar cost $2.97, Paying a Babysitter for watching My two sons, whom I had Custody of, cost .50 an hour. Life was not a "Total Picnic", but, I got by.
I started "living somewhat large", when I became an Installer, & getting paid $3.75 an hour, with Overtime usually being 15 to 20 hours per week.
By the time the "Iranian Hostage Crisis" was filling the daily news,...... Me, & My Two Sons, were living a Better Life, and I was making $7.75 an hour, as "Inflation was increasing", meaning the Value of the "Backed by a Promise to Pay Dollar", was increasingly losing it's Value.
America , slowly, since Nixon's time, and working it's way through POTUS's Carter, Reagan, Bush Sr. Clinton, Bush Jr, etc., Took on more, & more Debt, brought about by more spending, the Printing of the "Backed by Nothing Physical"Dollar, & Borrowing $$$ from other Nations.
America, slowly, & then increasingly, went from being "The Lender Nation of The World", to the World's "Debtor Nation", especially since 9-11.
Since 9-11,.... America's Spending took off with "Wild Abandon", like teenagers who took off with their parents car, as the parents had gone to the neighbors, with the teenagers "Partying Hardy", which ends with their wrecking the Car.
That "Car Wreck" is the American Economy/Dollar,..... Problem is,.... The Democrats, & Republicans, who I jointly call the "Uni-party", due to their "working hand in hand", when it comes to creating Laws, "Fraudulent & Unnecessary Spending", & Acts that Harm America, such as the "Homeland Security" & "Patriot" Acts, the "Affordable Health Care Act", the "Big Beautiful Bill", etc., which all are about giving more, & more "Power" to The Federal Government, & Stripping Away "State's Rights". I'm gonna add here >>> All of the "Undeclared, & Unjustified Wars"/ "Nation Rebuilding", brought on by Democrats, & Republicans, that have served to Unite Islam, Waste America's Military Power, Enrich the "Military/Industrial Complex", & Break the Military Power of the "American Juggernaut", that Saved the Free World in World War Two.
That "Car Wreck", is not only now Destroying the Middle Class, as the "Rich Elites" become far more wealthy,....... But it also has now caused the "BRICS Nations", & many more Nations of the World, that are joining the "BRICS Nations" to seek another Currency, backed by Gold, &/or Commodities, as they collectively begin to reject the "American Dollar", as well as America's now Unpayable Debt!
I spoke of what I earned in the 1970s, & What I paid, to point out, how "INFLATION" has been drastically increasing since the 1970s!
It's a Bargain, when I find Gasoline for $2.79! It's a Bargain if I can buy Steak for $5.00 a pound! It's a Bargain if I can buy Hamburger for less than $5.00 a pound! It's a Bargain if I find Bread for $2.50 a loaf!
To Hire, & Train a "Helper" in My Trade, with starting them at $12.00 an hour is not going to happen, and anymore the majority of those seeking work, want $25.00 an hour, but they do not want to do "Physical Work"!
My point, with this post, is that I Firmly Believe that an Unprecedented Economical Catastrophe, that will make "The Great Depression" look like a Mild Recession, will soon Savagely Fall upon America, despite all of the "Used Car Salesmen Assurances" gushed out to Us, by the Democrats, &/or the Republicans! Our so called "Leaders" gush about how "Inflation has fallen & the economy is booming",which is a "Wagon load of Bullcrap", when the "Full Picture is studied.
Ya'll,.... Our "Leaders" have been, are, & will continue, treating the "Working American Citizen" like a Mushroom, cuz' they purposefully want to keep "John Q. Public" in the Dark, & Feed him that "Wagon load of Bullcrap".
I have Data, Reports, News Reports, etc., that I would like to post herein, that prove how the Dollar & the American Dollar is collapsing, but I first need to fully understand how the members are to go about doing that.
