The Dollar’s Last Tango Part 1 (of a 2 Part Series)
When David Rockefeller pulled the plug on the gold-dollar on August 15th, 1971, the dollar fell against major currencies by 40%. Confidence is the name of the game. Without gold backing, the dollar was worthless. There was no confidence. It was only in 1975 that the Saudis agreed under pressure that the dollar would, henceforth, […]
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