The US dollar has experienced significant overnight devaluations throughout history, including a 41% devaluation on January 31, 1934, and three consecutive 10% devaluations in 1971-1973 (December 18, 1971; January 25, 1973; and February 12, 1973), which the video attributes to corporate debt passing as money.
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The Shocking History of the US Dollar DevaluationHinzugefügt:
I want to be super clear on this.
January 31st, 1934, a 41% overnight devaluation.
December 18th, 1971, a 10% overnight devaluation.
January 25th, 1973, another 10% overnight devaluation.
And again, [laughter] just a couple weeks later, February 12th, 1973, another 10% overnight devaluation.
Dollar devaluation, the new American reality. Do you see that headline?
And that's all thanks to corporate debt passing as money.
And frankly, it shows up in the data.
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