Nixon closed the gold window in 1971. That meant dollars could no longer be redeemed for gold. The US essentially defaulted on its debts…enter pure fiat money.
Wasn't aware of that. Stocks pricing in the coming flood of money?
Nixon closed the gold window in 1971. That meant dollars could no longer be redeemed for gold. The US essentially defaulted on its debts…enter pure fiat money.
Wasn't aware of that. Stocks pricing in the coming flood of money?