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Yes, the gold window was closed (as was predicted by The Triffin Dillema http://en.wikipedia.org/wiki/Triffin_dilemma http://en.wikipedia.org/wiki/Triffin_dilem
by digitalengineer 13y ago
Yes, the gold window was closed (as was predicted by The Triffin Dillema http://en.wikipedia.org/wiki/Triffin_dilemma http://en.wikipedia.org/wiki/Triffin_dilemma ). It was replaced by the petrodollar. Oil could only be paid for in US dollars. Lately we have seen more and more counties trading in their own currency amongst one another. (Mainly China and BRICS). The fact that the EURO does revalue gold's price to it's market price and the dollar does not is also very interesting.