Exactly 50 years ago today, on August 16, 1971, the world awakened to find the international financial and trading system in place when went to bed, gone. The previous evening, at 9PM on the East Coast, when the markets were closed, President Richard Nixon destroyed the system that had been set up in Bretton Woods some 27 years earlier. That, writes William Greider in his history of the Federal Reserve System, “was the precise date on which America’s singular dominance of the world’s economy ended.” Whether the President, an avid football plan we are told by Nicholas Evan Sarantakes’ in his study,
50th Anniversary: Nixon Slams America’s Gold Window
50th Anniversary: Nixon Slams America’s Gold…
50th Anniversary: Nixon Slams America’s Gold Window
Exactly 50 years ago today, on August 16, 1971, the world awakened to find the international financial and trading system in place when went to bed, gone. The previous evening, at 9PM on the East Coast, when the markets were closed, President Richard Nixon destroyed the system that had been set up in Bretton Woods some 27 years earlier. That, writes William Greider in his history of the Federal Reserve System, “was the precise date on which America’s singular dominance of the world’s economy ended.” Whether the President, an avid football plan we are told by Nicholas Evan Sarantakes’ in his study,