The Pinocchio Theory: Confidence Games

The Pinocchio Theory: Confidence Games:

The second half of Taylor's book moves towards an account of how today's 'postmodern' economic system developed, in the wake of Nixon's abandonment of the gold standard in 1971, the Fed's conversion from Keynesianism to monetarism in 1979, and the general adoption of 'neoliberal' economics throughout the world in the 1980s and 1990s. The result of these transformations is the dematerialization of money (since it is no longer tied to gold) and the replacement of a 'real' economy by a 'virtual' one, in which money becomes a series of ungrounded signs that only refer to one another.

good write-up of what sounds like an interesting book...
I just pulled this quote cause I seem to be full of hate and vitriol today, so at least I can aim some of it at Nixon now...
and that feels...

NICE!

I'm actually one of those nutjobs who would like to see us return to the gold standard...