Abandoning the Gold Standard

August 14, 2014 – The eve of the anniversary of former President Richard Nixon’s decision to cut the final cord between gold and the dollar is a time to wake up to the “resistance to dollar imperialism.”

From the article:

“Abandoning the gold standard was effectively a devaluation of the dollar. ‘If you want to buy a foreign car or take a trip abroad, market conditions may cause your dollar to buy slightly less. But if you are among the overwhelming majority of Americans who buy American-made products in America, your dollar will be worth just as much tomorrow as it is today,’ Nixon lied.”

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