Fiat Currency

Money backed by nothing since '71. "Temporary," said Nixon. It wasn't.

Since 1971 all major currencies float on sovereign credit — documented monetary history, not theory. The file's real entries: purchasing-power decline since the gold exit (BLS's own calculator shows ~87% since 1971), the Cantillon-effect literature on who receives new money first (formalized in mainstream papers post-QE), and the exorbitant-privilege economics of the reserve issuer (Eichengreen). The conspiracy layer adds intent to what the textbooks describe as evolution. The node holds the confirmed mechanics that make the intent question worth asking.