tag:blogger.com,1999:blog-3758330678390419129.post6086198535000610369..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: Nixon Takes the US Dollar Off the Gold StandardRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-3758330678390419129.post-56014936848291197312015-08-02T08:24:36.822-04:002015-08-02T08:24:36.822-04:00OK, so it sounds like Nixon's hand was forced ...OK, so it sounds like Nixon's hand was forced by the Fed's counterfeiting. Obviously the Fed has a long history of it. It's too bad that, after making this announcement, Nixon didn't send the Secret Service over to arrest them for counterfeiting. Robert What?https://www.blogger.com/profile/03863449539859132763noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-52864561180553928012015-08-01T22:26:30.267-04:002015-08-01T22:26:30.267-04:00Nixon gave this speech on a Sunday night, August 1...Nixon gave this speech on a Sunday night, August 15, 1971. I had been water skiing all day. My friends and I were listening to head banger music on WRIF in Detroit sitting by the lake. Then Tommy Chong announced: “Hey man, it’s the president of the United States, man.” For about 3 minutes, I thought it was part of a comedy LP. My Marxist friends were all outraged because Nixon hadn’t frozen Bob Roddishttps://www.blogger.com/profile/17263804608074597937noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-78562617873489061022015-08-01T20:41:08.401-04:002015-08-01T20:41:08.401-04:00I think he felt his back was against the wall.
I think he felt his back was against the wall.<br />Capn Mikehttps://www.blogger.com/profile/08133441332228302495noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-7494365580353514012015-08-01T20:02:25.665-04:002015-08-01T20:02:25.665-04:00My understanding of the situation isn't as com...My understanding of the situation isn't as complicated as Nixon is pretending it to be: the fed/treasury was printing more reserve notes than they were allowed according to the gold reserve ratio agreed to at Breton Woods. In other words, the fed/treasury was counterfeiting reserve notes and exporting currency note inflation internationally, devaluing purchasing power of foreign holders of Andrewhttps://www.blogger.com/profile/17515948973022881427noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-29443784945952232582015-08-01T19:10:12.982-04:002015-08-01T19:10:12.982-04:00Once again ... it's the "speculators"...Once again ... it's the "speculators" causing all the issues. But isn't that always the excuse?Jim Fedakohttps://www.blogger.com/profile/17052806627314964160noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-77172809760478397562015-08-01T18:22:46.456-04:002015-08-01T18:22:46.456-04:00So the question is, did Nixon know what he was doi...So the question is, did Nixon know what he was doing, or did he really believe that this would hurt the "international bankers"? In retrospect, he played right into their hands.Robert What?https://www.blogger.com/profile/03863449539859132763noreply@blogger.com