-- deep social spending cuts;
-- wage freezes or cuts;
-- unrestricted free market access for western corporations;
-- corporate-friendly tax cuts;
-- crackdowns on or elimination of trade unionism; and
-- harsh repression against those opposing a system incompatible with social democracy.
As a result, since WW II, public wealth shifted to powerful private hands, widening the gap between super-rich elitists and working households, a process more intense than ever now, including the amounts.
In 1971, the system unraveled when Nixon closed the gold window, ending the last link between gold, the dollar, and sound money. Thereafter, currencies floated, competing with each other in a casino-like environment, manipulated by powerful insiders like Soros, hedge funds, giant international banks, or governments at times cooperatively with others in their own mutual self-interest.