United States President Richard Nixon’s famous speech on August 15, 1971 to end the convertibility of the United States dollar to gold. Several countries have been expropriated, because their lawful receivables on gold couldn’t be converted. This decision ended the Bretton Woods system and established the system of freely floating currencies that remains to the present day. Could something similar like this happen today again? More details: e.g. en.wikipedia.org/wiki/Nixon_Shock
Posted on: Thu, 18 Dec 2014 20:58:47 +0000
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