August 15th 1971 was the key step in the creation of the US dollar Superbubble
Monetary systems are hard to care about until things start going obviously wrong.
The Sedan Chair Economy
Think of the world economy as a sedan chair in which the America's government and consumers are carried by the world's producers.
50 Years Ago Today
A quick note on a 'golden jubilee'. August 15th 1971 was day the US government refused to pay its debts, fixed the world monetary system in its favour, and blew the US dollar Superbubble we inhabit today.
The Next Financial Crisis Began Long Ago
A quick look at some recent events can help us predict the future of the global currency system.
Our Story Begins
In August 1971 the US government refused to give European central banks gold owed to them. The euro was set up to ensure this would not happen again.
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