This week marks 50 years since President Richard Nixon took the United States off the gold standard. In essence, the central bank no longer needed to hold gold reserves for every dollar in circulation.
In his announcement, Nixon said the move would help ease price increases the country was experiencing, promote employment, and guard against “international money speculators,” who he said were causing financial crises for their own benefit.
On the exact same day, Jim Blanchard published the first issue of the Gold Newsletter. It’s still around today, now led by Brien Lundin. NTD caught up with Lundin and asked what President Nixon meant by “international money speculators” causing crises.
