Wall Street Crash(Black Thursday)
October 24, 1929, marked the start of the U.S. stock market crash, triggering the Great Depression. Panic selling wiped out billions in wealth, and millions of Americans faced unemployment, poverty, and economic hardship. The crash shattered confidence in the financial system, leading to widespread suffering across the country.
Bretton Woods agreement
In 1944 the U.S. dollar became the world’s reserve currency, pegged to gold. However, by 1971, rising inflation and mounting debt forced the U.S. to abandon the gold standard, weakening the dollar’s value. This shift led to higher inflation, eroding Americans' savings and purchasing power.
Oil Shock
The 1973 oil crisis, triggered by an OPEC embargo, caused fuel prices to soar, leading to inflation and economic stagnation in the U.S. Americans faced higher costs for everyday goods and services as transportation and energy prices skyrocketed. The crisis significantly reduced buying power and slowed economic growth nationwide.
Second Oil Crisis
The 1983 oil crisis, driven by reduced oil production in the wake of the Iranian Revolution and the Iran-Iraq War, led to rising fuel prices and inflation in the U.S. Americans experienced higher costs for gasoline and goods, further eroding their buying power and contributing to economic uncertainty during the decade.
Dotcom Bubble
Gold has historically been viewed as a hedge against inflation. If you are concerned about the long-term purchasing power of the dollar or potential inflation, a Gold IRA could provide some protection, as gold often maintains its value in inflationary environments.
Lehman Brothers Colapse & QE
The collapse of Lehman Brothers in 2008 triggered a global financial crisis, leading to massive market instability. In response, the U.S. Federal Reserve introduced quantitative easing (QE), injecting trillions into the economy by purchasing government bonds and mortgage-backed securities. While QE stabilized markets, it also devalued the dollar and widened wealth inequality.
Pandemic Recession
Triggered by COVID-19 lockdowns, caused massive economic disruption. Millions of Americans faced job losses, business closures, and financial uncertainty. The government responded with stimulus packages, but supply chain issues and reduced consumer spending led to a sharp economic downturn, widening inequality and increasing national debt.
Fed is Created
In 1913, a secret meeting took place on Jekyll Island, Georgia, where a group of powerful bankers and government officials planned the framework for what would become the Federal Reserve System. This covert gathering laid the foundation for centralized banking in the U.S., influencing monetary policy for decades to come.