Nixon Shock: 40 Yrs. End of Gold Standard

Today marks the 40th anniversary of the new economic policy where the dollar would no longer be pegged to gold. At the time, former President Nixon promised that ending the gold standard would bring prosperity, jobs, create fair competition around the world, and allow the Federal Reserve to create monetary policy to increase the prosperity. We'll take a look at where we are 40 years later and ask, what did ending the gold standard get us? American Principles Project's Ralph Benko weighs in.

Category:

News & Politics

Tags:

• The Alyona Show
• Alyona Minkovski
• RT America
• TheAlyonaShow
• RTAmerica
• Alyona
• Show
• Fiat
• money
• gold
• standard
• Nixon
• Bretton
• Woods
• exchange
• rate
• Federal
• Reserve
• unemployment
• jobs
• Yen
• Euro
• American
• Principles
• Project
• Ralph
• Benko
• anniversary
• monitory
• reform
• economy

[flyyspit]

And a month before that the turd declared the War on Drugs another complete failure..

[llothar68]

He was a crook

[vitoduval]

Russia likes Nixon

[eedobee]

@666sigma Tell me more false degrees you have. You're lying more to yourself than me.

[666sigma]

@eedobee

Apparently, you are at the racists' table. Duuuh, gee, Tennessee.

[eedobee]

@666sigma lie to me some more

[666sigma]

@eedobee

You must be at the baby's table. I learned must of this through life experiences and an economics degree. I have successfully invested my own money and avoided the 2000 and 2008 stock market crashes. There is a 99% chance that I am doing a lot better than you. Given your views, it is probably 99.9%.

[eedobee]

@666sigma Everything you know about economics has been learnt from Ron Paul speeches.

Everyone who gives a shit ignores you children.

This is why kids sit and the kids table and let the adults talk.

[666sigma]

@eedobee

You have no clue about monetary systems. You have no idea what a currency is. The modern world is based on trade, barter. Currency is merely a mutually agreed upon means of exchange. The US could become a fiat because the US was unchallenged at the time. As usual, the US abused this position. The debasing of the currency is obvious because the government can simply print it out of thin air.

We will continue until the dollar looks like the yen.

[666sigma]

As usual, politicians lie. Defend the dollar??? The dollar has tanked since this douche bag tried to manipulate the dollar.

[goodyshare]

@OldSchoolSkill Were all U.S. dollar convertable to Gold, before this? Wasn't there way more printed dollars than gold and the supply of dollar bills were ever more increasing? I thought the gold standard disappeared in 1913, and JFK tried to bring it back months before he was killed. There's no good educational vid on this specific issue.