Topic: 1971

The conversation traces the history of the United States monetary system from the gold standard to the 1971 "Nixon Shock." Goodwin explains the concept of energy money, noting that gold requires significant energy to extract, which naturally caps debasement. He details how the paperification of gold led to a loss of confidence, culminating in France's attempt to redeem dollars for gold and the subsequent closure of the gold window.

Matthew Leshak, a former crime reporter for the New York Daily News and author of "Fiat Food," joins the program to discuss the 1971 economic shift. Leshak argues that the decoupling of the dollar from gold serves as the connective tissue between modern health crises, military expansion, and societal decay. His research suggests that mainstream media avoids the specific link between monetary policy and the quality of the American food supply.