the humble libertarian

out of many one

Tuesday, September 4, 2012

Ron Paul: How Long Will the Dollar Remain the World's Reserve Currency?

Since August 15, 1971, when President Nixon closed the gold window and refused to pay out any of our remaining 280 million ounces of gold, the US dollar has operated as a pure fiat currency. This means the dollar became an article of faith in the continued stability and might of the US government

In essence, we declared our insolvency in 1971.
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Judy Morris,
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