Trump Left Saudi Arabia Off His Immigration Ban: Here’s the Reason Why

Jon Alternative Media, Banking, Corruption, Economy, Geopolitics, Gold, Government, Market Commentary, Precious Metals, War

On August 15, 1971, President Nixon killed the last remnants of the gold standard.
It was one of the most significant events in U.S. history – on par with the 1929 stock market crash, JFK’s assassination, or the 9/11 attacks. Yet most people know nothing about it.
Here’s what happened…
After World War 2, the U.S. had the largest gold reserves in the world, by far. Along with winning the war, this let the U.S. reconstruct the global monetary system around the dollar.
The new system, created at the Bretton Woods Conference in 1944, tied the currencies of virtually every country in the world to the U.S. dollar through a fixed exchange rate. It also tied the US dollar to gold at a fixed rate of $35 an ounce.
The Bretton Woods system made the U.S. dollar the world’s premier reserve currency. It effectively forced other countries to store dollars for international trade, or to exchange with the U.S. government for gold.

This post was published at International Man