Draggingtree Posted August 16, 2016 Share Posted August 16, 2016 Today in 1971: President Nixon Closes the Gold Window 18 HOURS AGO Paul-Martin Foss 45 years ago today, on August 15, 1971, President Richard Nixon officially closed the gold window. While US citizens had been forbidden from owning gold or from redeeming their gold certificates for gold coins since the early 1930s, foreign governments still had the privilege of redeeming their dollars for gold. Due to the Federal Reserve’s inflationary monetary policy during the 1960s, foreign governments began to redeem more and more dollars for gold. https://www.youtube.com/watch?v=7_Xw5tWsOQo https://mises.org/blog/today-1971-president-nixon-closes-gold-window Link to comment Share on other sites More sharing options...
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