VIDEO: Nixon Ends Bretton Woods International Monetary System

Monday, February 23, 2009 20:05
Posted in category Inflation, Video
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August 15, 1971

Richard Nixon ends the Bretton Woods international monetary system and removes the gold backing of the US dollar. Nixon claimed that the move was temporary and was geared toward “Defending” the dollar.

“Your dollar will be worth just as much tomorrow as it is today!” Not Quite DICK!
PS- What’d you do with all that gold anyhow?

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