From the Nixon Shock to Biden-Flation, by Ron Paul
Aug 23rd 2021 10:46am EDT
This month marks fifty years since President Richard Nixon closed the “gold window” that had allowed foreign governments to exchange US dollars for gold. Nixon’s action severed the last link between the dollar and gold, transforming the dollar into pure fiat currency. Since the “Nixon shock” of 1971, the dollar’s value — and the average… […]
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