Sun, Aug 14, 2011 - 5:38pm
Nixon Ends Bretton Woods International Monetary System
Nixon defaults: (1:05) "I have directed Secretary Connally to suspend temporarily the convertibility of the dollar into gold or other reserve assets"
Richard Nixon, Sunday 15th August 1971
Here's one version of the back story: Nixon Shock, the rest, as they say is history.
Edited by: Babstar on Nov 8, 2014 - 5:31am