The 1971 closing of the gold window, moved the world from a gold-based monetary system to a fiat-based system. Credit expansion then lead to indiscriminate debt and consumption replacing careful savings and investment, and many unintended consequences; economic, social, and environmental.
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1. Obesity Increase
Due to excess consumption encouragement from increased debt, food price inflation forcing people down the nutrition spectrum, compounded by flawed dietary guidelines, coincidently also introduced in the 1970s.
2. Wealth Inequality
3. Plastic Waste
4. Lower Housing Affordability
5. Global Debt Bubble
6. Increased Climate Change
