>Remember that the "general global rejection" only started with the Nixon Shock in the US in 1971 Nope - most countries already rejected it. The mismatch allow

>Remember that the "general global rejection" only started with the Nixon Shock in the US in 1971 Nope - most countries already rejected it. The mismatch allowed them to extract gold at under market prices from the US, since we tried to claim we were on it, and when it became clear that the US was being taken advantage of, we dropped the pretense. The US has not held enough gold to back it's money for well over 100 years. Holding the pretense till 1971 was to lessen gold bugs from freaking out.