Friday, August 15, 2014

Nixon Closes the Gold Window: A Day That Lives in Infamy

-Voices of Liberty
A run on gold from foreign countries repatriating their dollars made it clear that there was a lack of faith in Nixon’s Keynesian policies. To stop this, Nixon refused to allow these transactions by closing the gold window, ushering in 43 years of a fiat Dollar standard. The world has suffered the consequences ever since.

Do you think we would be better off if Nixon hadn’t nixed the convertibility of the U.S. dollar into gold?

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