I remember when Nixon closed the redeemable Dollars for Gold 'window' in 1971.
- Nothing that was represented by .Gov or reported by the media had anything to do with the real reason...much less the actual consequences of this heinous and barbaric act.
THEN:
- The 'temporary' 1971 halt of convertibility is still in effect 52 years later.
- The USD has declined 99% since 1971.
- The Dollar today is worth 1% of its 1971 value.
Note: While the US public was effectively hoodwinked, China back in 1971 had already twigged to the consequences.
SINCE:
- The USD has lost 80% against the Swiss Franc.
TODAY:
JP Morgan is still correct in his assessment that "Gold is MONEY; everything else is CREDIT."
My bullion company had been around for 30 years but went belly up in 2022 and everyone has lost everything. My stash wasn't huge (unlike some) but the lesson I learned is that you need to hold the physical metal yourself or its high risk.
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