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by dnautics
2749 days ago
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Another key thing happened in the 70s, Nixon closed the gold window allowing for devaluation of the dollar, which enabled government-led wholesale theft of the productivity of the labor class and direct transfer to bankers and government contractors (mostly defense), and indirect transfer to the financial sector and investment capitalists. The wealthy didn't make a break for it, it was handed to them on a platter, and continued to be justified on the grounds of centralized management of the economy. |
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