@KBULTRA0 @DreamDionysian This is still obscuring the main thing that happened, which is that during the wars the aristocratic class borrowed a lot of gold from the creditor class to spend on war stuff, which created jobs for clients.
@KBULTRA0 @DreamDionysian This created a strong political faction in favor of preserving war jobs, which made deflation politically unpopular and created a political mandate for redefining all contracts denominated in gold to refer to funny money controlled by aristocrats and their clients.
@KBULTRA0 @DreamDionysian Bretton Woods was part of the process by which this happened. Currencies were pegged to each other to *simulate* a gold standard for purposes of international exchange, but instead of states having accounts in money, money was now contained by a network of states.
@KBULTRA0 @DreamDionysian It was only after people got used to money having no meaning outside the system of national currencies that it became politically feasible to let currencies float freely with no reference to gold or each other.
@KBULTRA0 @DreamDionysian In the process the US financial system was reconfigured, vastly reducing the share of lending based on the underlying apolitical profitability of an enterprise, in favor of a systematic subsidy to aristocrats who are good at becoming too big to fail.
@KBULTRA0 @DreamDionysian This is the structural reason why so much of the white-collar class work at bullshit jobs, the managerial class is so depraved, VCs favor pyramid schemes over profit-maximizing behavior, etc. There's selection for becoming big by borrowing.
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