The Russian Banker, Part 2: The Whistleblower

The Russian Banker, Part 2: The Whistleblower

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When Nixon put America first and took the dollar off gold

Today, when people hear the name Richard Nixon, they probably think of Watergate. Few remember another one of his most controversial acts – his suspension of the dollar’s convertibility into gold. The “Nixon Shock” as it became known was a quintessentially America First policy, w ...  Show more

Why Richard Nixon torpedoed the global monetary system

A century ago, when depositors lost confidence in a bank, they’d rush to withdraw their cash. In 1971, US president Richard Milhous Nixon faced a similar dilemma. But his problem wasn’t ordinary citizens fearing for their savings. Instead, it was America’s closest allies who were ...  Show more

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