I remember when Nixon closed the redeemable Dollars for Gold 'window' in 1971.
- Nothing that was represented by .Gov or reported by the media had anything to do with the real reason...much less the actual consequences of this heinous and barbaric act.
THEN:
- The 'temporary' 1971 halt of convertibility is still in effect 52 years later.
- The USD has declined 99% since 1971.
- The Dollar today is worth 1% of its 1971 value.
Note: While the US public was effectively hoodwinked, China back in 1971 had already twigged to the consequences.
SINCE:
- The USD has lost 80% against the Swiss Franc.
TODAY:
JP Morgan is still correct in his assessment that "Gold is MONEY; everything else is CREDIT."
1 comment:
My bullion company had been around for 30 years but went belly up in 2022 and everyone has lost everything. My stash wasn't huge (unlike some) but the lesson I learned is that you need to hold the physical metal yourself or its high risk.
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