Friday, August 15, 2014

The Day the Gold Standard Died

-The Weekly Podcast
It was August 15, 1971 when President Richard Nixon severed the last remaining link of the U.S. dollar to gold. Since then nothing has restrained the authorities in their creation of more dollars. Their recent frenzied printing of trillions of dollars has us racing now toward a monetary crisis of resolution. Ron Paul and Charles Goyette discuss the consequences of Nixon’s Sunday night policy announcement 43 year ago, the impact of the accompanying wage and price controls, and the trajectory it has us on today.