True story.
How the US defaulted on its debts and why the stock market went up | Ray Dalio posted on the topic | LinkedIn
When I was a young clerk on the floor of the New York Stock Exchange in 1971, the US ran out of money and defaulted on its debts. Now, they didn’t say it that way. But by moving away from the gold standard — the idea that people could exchange paper dollars for gold — money, as we understood i…
