🇺🇸 U.S. dollar has gone 55 years without being backed by anything; after a “temporary” move that was never reversed.
🔹President Nixon cut the dollar’s link in August 1971, and in his own speech described this suspension as temporary.
🔹That temporary fix became the entire global financial system—together with gold, which rose from $35 per ounce at the time of that day to today's $4,383.
🔹President Nixon cut the dollar’s link in August 1971, and in his own speech described this suspension as temporary.
🔹That temporary fix became the entire global financial system—together with gold, which rose from $35 per ounce at the time of that day to today's $4,383.