Happy Nixon Shock anniversary!

On this date 54 years ago, the US "temporarily" went off the gold standard.

Median income in 1971 was $10k/yr, and gold was $35/oz. Yearly earnings paid in gold was 286 oz.

How about 2025? Median income is $62k/year, and is gold $3.3k/oz.

Yearly earnings paid in gold is 19 oz.

Our median earnings, the average of what our scarce time is worth, dropped 93% in those "temporary" years. Cheers! 🍻

https://wtfhappenedin1971.com/