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The Nixon Shock. How Nixon stopped backing the dollar with gold
- mvkel 15y agoI thought gold stopped backing up the dollar in the 1930s, just after the great depression?
- davidw 15y agoPlease, Obi Wan, save us from the gold standard discussions, you are our only hope.
- febeling 15y agoI can understand this fear. Gold standard discussions are usually extremely dull and turn religious in no time. But the article describes the political context, people and decision-making of this historic event. Much was guided by thought of TV audience response and the next election result. Those concerns are not necessarily the best ones to build a financial system on. Still this is what shaped the decision.
- davidw 15y agoMaybe someone should go build an Econ News, so we can send people there to bludgeon each other about the same topics over and over again, and we can stick to startups, hacking, and random, interesting, non-political articles.
- pwg 15y agoSingle page link: http://www.businessweek.com/printer/magazine/the-nixon-shock-08042011.html http://www.businessweek.com/printer/magazine/the-nixon-shock...