Economics & Investing For Preppers
Today, in lieu of our regular column of Economics & Investing news items, I’m posting my retrospective on the long-term legacy of currency debasement in the United States. I chose to do so this week because Richard M. Nixon’s Day of Perfidy was 50 years ago, earlier this month. The U.S.: 50 Years in Currency Fantasyland It was 50 years ago, in August of 1971, that the United States finally severed its last vestige of a gold standard. This came when President Nixon announced that the Treasury “temporarily” ceased redemption in gold of U.S. Dollars presented by foreign governments. He …