I crunched some numbers to get a sense of what a minimum wage income and the median family income in the U.S. would look like if they'd increased as much as the the price of gold has increased since t...
Viability of a gold standard (at least one with exchange at a fixed rate) ended with the creation on Eurodollars. If every bank can create new dollar claims then those dollars can be used to drain gold reserves from central banks.
I believe Nixon had to suspend convertibility or face having London print new money and slowly transfer all of the US’s gold bank into London’s pockets:
I believe Nixon had to suspend convertibility or face having London print new money and slowly transfer all of the US’s gold bank into London’s pockets:
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