Today, Monday, August 15, 2011, marks the 40th anniversary of the US default on the dollar’s convertibility into gold. It was the world’s de facto reserve currency and thus began an experiment with a reserve fiat currency that was doomed to failure before it began, because there has never been a successful fiat currency in all of history.. August 15, 1971 was just like any other day for most people, and President Nixon’s unprecedented decision to cut the US dollar’s gold international convertibility was largely ignored by the public. The majority of citizens didn’t understand the implications for their financial future. Contrast that to today, where a historic downgrade of US debt and a very public $2-trillion increase of the debt ceiling dominated headlines and the television news.
To read the rest of this article please click HERE
- Silver Juniors Will Provide Huge Leverage
- CFTC Explains Its Failure to Find Silver Market Manipulation
- The Boy Who Cried (over) Bitcoin
- The Silver Debate – David Morgan and Louis Cammarosano
- Gold and Silver Make A Move
- The Coming Boom … This One’s Not Gold, Silver, or Cryptos
- Most Countries Are Beginning To Stockpile Gold
- TRUMP vs. FED Signals End of 75-yr DOLLAR REGIME!
- Gold & Silver Are Loving the Gov’t Shutdown Conflict, Stock Volatility
- Retail Silver In Tight Supply?