
The Machine We Built Part 2
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What happens when money loses its anchor? In this episode of Beyond the Workforce, David Thomas Graves unpacks how two pivotal decisions, Franklin Roosevelt’s 1933 gold confiscation and Richard Nixon’s 1971 closure of the gold window, reshaped the dollar forever.
We trace how the move from gold-backed money to fiat currency turned debt into the fuel of the American economy, ignited the stagflation of the 1970s, and laid the foundation for a system addicted to credit, bailouts, and Federal Reserve intervention. From housing bubbles to quantitative easing, the story isn’t abstract economics, it’s the paycheck in your pocket, the mortgage on your house, and the retirement you’re counting on.
If you’ve ever wondered why stability for Wall Street always seems to mean instability for workers, this episode explains how we got here, and why it all started the moment the dollar lost its anchor.
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