[aspinswramymn]

These are my thoughts after reading a Zero Hedge article today. I'll post the charts below.

Money has always been comprised of some portion wealth and some portion debt. The ratio of one to the other is really the key IMO. When money was redeemable in "some thing of substance" it had a component of wealth. It doesn't matter what that substance is. The money makers know this. As long as it is redeemable in some thing of substance that is all that matters. When money is irredeemable (by you and me) in something of substance then the money is more debt than wealth.

My own empirical observations looking back on my own life is that things changed substantially around the mid 70's. Living in Australia and it being a bit of a backwater, those changes may have taken a few years to get underway but I can look back and see things that happened with clearly relate to major changes in the monetary system.

For me the key indicators that I recall were the introduction of a credit card system. In the begining we did not have Visa or American Express in Australia. We were fairly isolated in terms of products and so on. They were all local products. Inflation was also very low. Well below 1%. In fact so low that it's likely that inflation was not even measured back then. There was no wealth destruction so there was no need.

We had a credit card system called BankCard.This was the only system of credit cards we had until the early 80's. I had a credit card in the late 80's but I cannot recall what it was. I'm confident it wasn't bank card so it was probably a Visa.

The other thing that I recall changed and this might seem odd, was that up until the mid 70's there was a School based savings program where students could open a bank account with a Passbook. Every 2 weeks a man from the bank, which I think was Commonwealth bank (CBA today) or maybe it was Rural and Industries (Western Australias native bank) which is Bankwest today. This program ended in the mid 70's.....maybe it was closer to 78 -79.

Chart from article
These dates tie in with the abolition of the Brenton Woods agreement. So basically now I have something to backup my claims (to friends and family) that the money system of wealth became a money system of debt around the mid 70's.

While the article talks about wages stagnation I prefer to think of it as wealth stagnation destruction.

Just a few of mine own observations.

Zerohedge article link: http://www.zerohedge.com/news/guest-...age-stagnation