Loading ...That sounds good for the USA in general. Another major reversal if we ever see it happen. Because the so called alleged dominance caused lower living standards after 1971, when they de-pegged the gold backing.
I feel the “dominance” was somewhat mandated, to shut down US production, move them off shore and bring in the imports of people and products. Before the gold backing at $35 from 1934, was removed, the foreign countries redeemed half our Gold supply by 1971. What a sucker the USA was.
We stop them from taking gold at $35 when it was worth $140, so after that, 1971 they absorbed our industries. By the way, on this day in 1970 the US Gov’t created the Environmental Protection Agency. Now take a guess why they created it??? To over ride the future loss (after ’71) of wealth producing jobs, and replace with wealth absorbing service jobs.
Nothing matters anymore. Natural trends are in motion.