Conspiracies

 
MESH
 
1913 Dec 24th Jekyll Island, Creation of Fed Reserve
 
1963 Nov 22, JFK Assassination
 
Clint Murchison
 
Gulf of Tonkin
 
Major General Smedley Butler book "War is a Racket"
 
FDR, WW2 OSS Pearl Harbor
 
Project 47 MK Ultra
 
Nixon Gold Standard
 
World Trade Center 1993 Bombing
 
1997 Operation Earnest Will Persian Gulf
 
USS STARK
 
Bridgeton Tanker
 
JFK
 
Robert K
 
911
 
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NIXON
 
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GHB
 
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Donald Rumsfield
 
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Token Gulf
 
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Edgar Casey
 
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Barry Jennings
 
Milton William Cooper
 

Nixon Gold Standard

 

Today, the United States lives with federal budget deficits of more than $1 trillion each year, interest rates that are artificially held below market levels, aggregate debt that is growing much faster than the economy, and a chronic trade deficit that is larger than whole industries.

Yet each of these problems could be tamed and mollified, in my view, with a true gold standard. Of course, the world used to be on a type of gold standard known as the Bretton Woods Agreement. Tracing the history of this gold standard and its demise ultimately led me to one man US President Richard Milhous Nixon the man who untethered the chord linking currencies to gold; the man who sold the world fiat money.

What happened? How did we get from there to here? And what lessons can we draw from this relatively recent economic history to inform where we should be going?

Source: http://blogs.cfainstitute.org/investor/2013/03/13/president-nixon-the-man-who-sold-the-world-fiat-money/
 
The Nixon plan known as the Nixon Shock stunned the world. From the end of World War II until Nixon released the Kraaken, the various world currencies had been pegged to the USD, which was pegged to the price of gold. At any time, another country could literally take their U.S. Dollars and exchange them for gold from the United States gold reserves. The tension between all these different pegged currencies and USD/gold provided the backbone to the world economy, and (at least in theory) provided a reasonable price range around which economies could operate. It gave certainty.

Well, I should say, it gave certainty until it didn't. I guess that's a bit like saying it worked until it didn't work, but that's exactly what happened with the first Bretton Woods system. Let's take a closer look.

In 1971, America was stuck with a bit of an economic crisis. Inflation had jumped up to nearly 6 percent, primarily because of Vietnam and the deficit spending necessary to pay for the war. The debts made investors nervous about hanging on to U.S. dollars, and the market reflected this. The world threatened a gold run essentially trading in all our dollars back for all our gold. As more gold left the system, the problem would become worse until, finally, there would be no more gold (and presumably no more

Source: http://www.benzinga.com/news/11/08/1858099/the-day-richard-nixon-killed-the-gold-standard
 

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