The Time the United States Ran Out of Money
May 13, 2025
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4:05Now PlayingThe Time the United States Ran Out of Money
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as posted by the channelIn 1971, the US ran out of money and defaulted on its debts. Now, they didn’t say it that way. But by moving away from the gold standard, money as we understood it ended.
I expected the stock market to plunge, but it went on to rise nearly 25%. That surprised me. But when I looked into it, I discovered the exact same thing happened in 1933 and it had the exact same effect.
Here’s why.
#principles #raydalio #history #economics
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