Nixon’s Impact on the Dollar vs. Gold

I stumbled across these nicely-designed charts whilst surfing the interweb. On August 15th, 1971, then-President Richard Nixon ended the pseudo-international gold standard known as the Bretton Woods system; Bretton Woods was a flawed and doomed system to begin with (a story that deserves it’s own article later own), but at least it vaguely resembled some type of check on the inflationary power of the Federal Reserve. Look at the chart, and see how the value of the dollar has plunged over the years, beginning on that fateful day exactly.

https://i1.wp.com/www.zerohedge.com/sites/default/files/images/user3303/imageroot/2013/08-2/20130905_nixon1.png

https://i1.wp.com/www.zerohedge.com/sites/default/files/images/user3303/imageroot/2013/08-2/20130905_nixon2.png

 

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