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Wait, I've watched this episode before. The US owed France large amount of gold (the legal mechanism for this was called "the dollar"). France asked to redeem t

Wait, I've watched this episode before. The US owed France large amount of gold (the legal mechanism for this was called "the dollar"). France asked to redeem their dollars for gold, and the US said "nah, we're keeping it, enjoy your dollars". https://en.wikipedia.org/wiki/Nixon_shock#American_policy_response https://en.wikipedia.org/wiki/Nixon_shock#American_policy_re...

hliyan 8mo ago
That was the end of the US dollar convertibility to gold. This, unless I'm mistaken is actual French property held in US vaults.
- dtech 8mo ago
  The fear in non-US nations is that the US will not respect the agreements and refuse to hand over the gold if requested. Given all the Trump admin is doing, I don't think it's unjustified
  - cap11235 8mo ago
    [flagged]
sph 8mo ago
Tangentially related to the above Wikipedia article: https://wtfhappenedin1971.com/ https://wtfhappenedin1971.com/
slater 8mo ago
"Let me lay to rest the bugaboo of what is called devaluation." yeahhh thanks Tricky Dick, how did that work out for us...? :D