“The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.”
This month marks fifty years since President Richard Nixon closed the “gold window” that had allowed foreign governments to exchange US dollars for gold. Nixon’s action severed the last link between the dollar and gold, transforming the dollar into pure fiat currency....
Politicians are liars. I know. This is a real shocker, right? I’m sure you don’t need me to tell you this. So, let’s just call this a friendly reminder. I was personally reminded of this fact as I wrote an article about the anniversary of Richard Nixon slamming shut...
On August 15, 1971 Richard Nixon closed what was called the “gold window.” Since then, the purchasing power of fiat money has dropped 80% while gold has gone up from $35 then to the $1500 range today. Michael Boldin talks about what happened and how this has helped...