Reflections on the War on Work as a War on Workers

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Reflections on the War on Work as a War on Workers | naked capitalism

Recalling what good union jobs once meant for workers and communities and describing some damage done by the war on labor

www.nakedcapitalism.com

 

[Goldhedge]

Clever title... a tongue twister...

Just finished the read.

It's amazing how the author can scrutinize the work force and work available along with the changing economics and miss the cause completely.

The Federal Reserve debt-slave monetary Act of 1913.

 

[Fatrat]

Final nail in the coffin, getting off the Gold Standard with tricky dickie...

 

[Goldhedge]

Final nail in the coffin, getting off the Gold Standard with tricky dickie...

Actually, it was 1933 when FDR removed the US from the standard.

Executive Order 6102 declared that all privately held gold of American citizens was to be sold to the U.S. Treasury and the price raised from $20 to $35 per ounce. The goal was to counter the deflation which was paralyzing the economy.[162]

The [1944] Bretton Woods system required countries to guarantee convertibility of their currencies into U.S. dollars to within 1% of fixed parity rates, with the dollar convertible to gold bullion for foreign governments and central banks at US$35 per troy ounce of fine gold (or 0.88867 gram fine gold per dollar).

On 15 August 1971, the United States "temporarily" suspended the convertibility of the US dollar to gold, effectively bringing the Bretton Woods system to an end and rendering the dollar a fiat currency.[5] Shortly thereafter, many fixed currencies (such as the pound sterling) also became free-floating,[6] and the subsequent era has been characterized by floating exchange rates.[7] The end of Bretton Woods was formally ratified by the Jamaica Accords in 1976.

In 1973, Nixon and secretary of state Henry Kissinger made a secret deal with Saudi Arabia to trade oil only in US dollars, thus pegging the US dollar to oil and birthing the petrodollar.[8]

 

[Fatrat]

Amazing how temporary that was.....