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Old August 16th, 2016, 12:51 AM   #1
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It's August 15th - Where Is Your Gold? RonPaulLibertyReport

well, happy august 15th. the 45th anniversary of when nixon decided to completely remove the remaining tangible value of the USD

Dr. Paul talks a bit about gold

https://youtu.be/AQHc_OIrfPQ
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Old August 16th, 2016, 12:56 AM   #2
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Today in 1971: President Nixon Closes the Gold Window

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45 years ago today, on August 15, 1971, President Richard Nixon officially closed the gold window. While US citizens had been forbidden from owning gold or from redeeming their gold certificates for gold coins since the early 1930s, foreign governments still had the privilege of redeeming their dollars for gold. Due to the Federal Reserve’s inflationary monetary policy during the 1960s, foreign governments began to redeem more and more dollars for gold. Attempts to encourage other governments (especially France) not to redeem their dollar holdings were unsuccessful, and there was a very real threat that US gold holdings might eventually be exhausted. So President Nixon decided to close the gold window, thus severing the final link between the US dollar and gold. The removal of the restraint of gold redemption freed the Federal Reserve to engage in more inflationary monetary policy than ever. The effects of that on money supply and official price inflation figures are readily apparent.

August 15, 1971 - Richard Nixon Closes the Gold Window

The demonetization of silver in the Coinage Act of 1873 was widely assailed by its critics as the “Crime of ’73.” Isn’t it about time that Nixon’s closing of the gold window be known as the Crime of ’71?
https://mises.org/blog/today-1971-pr...es-gold-window
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Old August 16th, 2016, 01:04 AM   #3
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nixon explains the "temporary" removal from the gold standard.


https://youtu.be/iRzr1QU6K1o

sounds good as he explains it though in hindsight it was a load of shit


if 4 minutes is to long
https://youtu.be/7_Xw5tWsOQo
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Old August 16th, 2016, 01:07 AM   #4
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Quote:
Originally Posted by Sabcat View Post
well, happy august 15th. the 45th anniversary of when nixon decided to completely remove the remaining tangible value of the USD

Dr. Paul talks a bit about gold

Is Trump Deliberately Throwing The Election To Clinton? | Zero Hedge
Gold is pretty to look at and nothing more except for use in electronics. FDR took us off the Gold Standard for several reasons but the main reason way back then was because there is simply not enough gold to back the dollar. Private US citizens were not allowed to own Gold after FDR except for old gold collectable coins and jewelry. Nixon reversed FDR with private US citizen gold bullion ownership again but he did not put us back on the Gold Standard.

The Gold Standard means that real gold in your pocket is the only money excluding silver. To buy a loaf of bread today using the Gold Standard the flake of gold would be so small that you would need a microscope to see it.
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Old August 16th, 2016, 09:17 AM   #5
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Originally Posted by Twisted Sister View Post
Gold is pretty to look at and nothing more except for use in electronics. FDR took us off the Gold Standard for several reasons but the main reason way back then was because there is simply not enough gold to back the dollar. Private US citizens were not allowed to own Gold after FDR except for old gold collectable coins and jewelry. Nixon reversed FDR with private US citizen gold bullion ownership again but he did not put us back on the Gold Standard.

The Gold Standard means that real gold in your pocket is the only money excluding silver. To buy a loaf of bread today using the Gold Standard the flake of gold would be so small that you would need a microscope to see it.
Yes, what is your point? You mean we could go grocery shopping with a five dollar bill and you think that is a bad thing?
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