Part 2/9:
The candid observation posits a pivotal question: what exactly changed in 1971 to catalyze such pronounced shifts in the economic environment? This year marked a critical moment when President Richard Nixon announced the temporary suspension of the U.S. dollar's convertibility to gold, effectively dismantling the gold standard. This decision, made amidst deteriorating market conditions, is often cited as a significant turning point in modern economic history, representing the transition from a stable economic era to one characterized by volatility and uncertainty.