David Boyle / Money and Music, Ep 204
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1971 was an interesting year in music and in the world of finance. Nestled among The top 10 rock songs of 1971 you’ll find gems like American Pie by Don McLean, Won’t get fooled again by the Who, Riders on the storm by the Doors and Oye Como Va by Santana.
The Bretton Woods agreement became fully operational in 1958, where international currencies could be traded for USD, and these USD could be converted to Gold – Now guess when this all changed 1971, when US President Richard Nixon took the US dollar off the gold standard.
Socially, maybe it was 1971 when the pendulum the baby boomers set in motion began. Perhaps enough of them doing all the same thing and thinking the same thoughts at the same time perhaps created this present age more than we appreciate - they all left home, got married, popped out a few kids and bought property pretty much all at the same time– they had enough war talk from their parents, let’s live they thought – and they did.
So 50 years later, here we are in 2021... Is the music as good as it was in 1971 – eh meh, perhaps its only in the money-space where we’ll see some patterns persist.
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