bitcal on Nostr: Nixon shock 08-15-1971 | An end to convertibility of US dollar into gold Nixon ...
Nixon shock
08-15-1971 | An end to convertibility of US dollar into gold
Nixon directed Treasury Secretary Connally to suspend, with certain exceptions, the convertibility of the dollar into gold or other reserve assets, ordering the gold window to be closed such that foreign governments could no longer exchange their dollars for gold. This marked the initial step towards a detrimental fiat system that saps our time and diminishes the worth of our work and savings.
The detrimental consequences of unlinking currencies from gold are vividly portrayed at https://wtfhappenedin1971.com/.
08-15-1971 | An end to convertibility of US dollar into gold
Nixon directed Treasury Secretary Connally to suspend, with certain exceptions, the convertibility of the dollar into gold or other reserve assets, ordering the gold window to be closed such that foreign governments could no longer exchange their dollars for gold. This marked the initial step towards a detrimental fiat system that saps our time and diminishes the worth of our work and savings.
The detrimental consequences of unlinking currencies from gold are vividly portrayed at https://wtfhappenedin1971.com/.