August 15th, 1971: Gold Window "temporarily" closed

#1

Rasputin_Vol

"Slava Ukraina"
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#1
Temporarily is a mighty long time.



I have directed Secretary Connally to suspend temporarily the convertibility of the dollar into gold or other reserve assets, except in amounts and conditions determined to be in the interest of monetary stability and in the best interests of the United States.
 
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#8
#8
When I think of "temporarily", I don't think of 45 years. When will the Gold Window re-open?
 
#16
#16
50 Years After Nixon Ended The Gold Standard One Bank Asks "Can We Continue To Do This?" | ZeroHedge

nixon%20ends%20the%20gold%20standard.jpg
 
#18
#18
A day that should live in enfamy... Yes, it was a default.



Most people think Nixon's great failure was Watergate, but that was US politics as usual and he didn't play it well. Nixon's two real blunders were opening relations with China and ending the gold standard.
 
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