Loading ...Thanks for the comeback info. Re what comes first, chicken or egg, Oil crunch or removal of Gold standard.
There was a news blackout on that. The Dollar agreement was 1 bb Oil = 1 oz Silver, and 15 bbls Oil equal 1 oz Gold. So when the Gold backing was reneged, for too much printing 1934 to 1971, everything priced is dollar went up.
So they were forced to raise interest rates, ’71 ’81, 6% to 21% nice lip stick on a Pig, to save the Dollar, to put a head wind on a dawning runaway inflation.