In August 1971, Richard Nixon went on television and detonated the global financial system. By severing the U.S. dollar from gold, the Nixon Shock ended Bretton Woods, ushered in fiat money, and unleashed a new era of credit, speculation, and inequality. What followed wasn’t just inflation and currency volatility—it was a fundamental rewiring of housing, wealth, and power.
In this episode of Built to Divide, Dimitrius Lynch traces how the end of the gold standard collided with housing policy, stagflation, and a rising market-first ideology. As public housing construction collapsed, Section 8 vouchers expanded, the mortgage interest deduction quietly became America’s largest housing subsidy, and real estate lobbying reshaped Washington. Jimmy Carter framed housing as a moral obligation—but crisis, inflation, and backlash undercut reform. Then came Milton Friedman, Margaret Thatcher, Ronald Reagan, and the think-tank machine, turning deregulation, tax cuts, and privatization into governing doctrine.
The result? Housing shifted from shelter to leverage. Neighborhoods hardened. Inequality accelerated. McMansions replaced porches. Master-planned enclaves rose as public responsibility retreated. And the rails were laid for subprime lending, securitization, and collapse.
This is the episode where money floats, housing fractures, and the modern economy takes its irreversible turn.
Episode Extras - Photos, videos, sources and links to additional content found during research.
Episode Credits:
Production in collaboration with Gābl Media
Written & Executive Produced by Dimitrius Lynch
Audio Engineering and Sound Design by Jeff Alvarez
