Nixonomics at the New York Times
May 7, 2011
Gary North
5/7/2011
Lying Mouthpiece for the Fed
On August 15, 1971, a Sunday, President Nixon unilaterally suspended the last traces of the gold standard. He “closed the gold window” on his own authority. From that time on, no government or central bank has been able to exchange dollars for Treasury gold at a fixed price. Nixon broke the Bretton Woods agreement of 1944. He broke the nation’s word. He cheated. That was his way. Ever since that day, American monetary policy has been Nixonomics.
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