Nixon Ended More than the Gold Window!

Written By: The WealthCycles Staff

President Richard Nixon: widely known as the man with the unenviable duty to tell the world that the Federal Reserve Bank (delegated by the U.S. Congress to issue banknotes that would be enforced as a national currency) could no longer satisfy the convertibility of the dollars it issue. It was 1973, and the U.S. Treasury was running out of gold. The claim check to pick up the dry cleaning was about to expire.

In order for the government to continue to spend more than it took in, it would have to gain the ability to print and issue more debt unbacked by gold, which would mean the world reserve currency—the U.S. dollar—would be supported by nothing more tangible than faith alone. The closing of the “gold window” is the moment in time when Nixon famously said we were “all Keynesians now.” He was wrong: Keynesianism is not reality. While some persisted in believing in fairies, the facts regarding the path of the economy were not changed by Nixon’s proclamation.

Of course, Nixon also said: “I am not a crook.” Lawyers call this the “silent but deadly” give-away. The chart below proves the true aim of removing the link between gold and the Federal Reserve’s dollar note:

Federal Budget

So obviously (see above), the

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testiomials Akin to the movement by states to nullify federal opinion on gold and silver money, the movement forward in creating green carbon-negative energy has states opposing the central government”

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