Rate Of Return
CommemorativeIn 1971, Nixon abolished the gold standard; Japan's bubble in the late 1980s; the dot-com bubble in 2000; the financial crisis in 2008... Each time, it's essentially the same logic: credit inflates a bubble, everyone sells assets to repay debts, the bubble bursts, the government prints money and raises taxes, leading to currency devaluation and wealth redistribution.
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