40 Years Ago Greenback Divorced Gold as Nixon Dropped the Bombshell
Some financial analysts have suggested that it is about time to get back to gold standard that was severed 40 years ago in mid-August 1971. John Tamny of Real Clear Markets while discussing with Jared Bernstein, the CNBC contributor on whether the United States should return back to gold standard observed that severing dollar links with gold was a monumental blunder and the biggest mistake of modern times. John further said that the decision of President Richard Nixon to sever the final link of the US dollar to gold was a devaluation of the dollar and history… Continue reading