Tuesday, August 16, 2011

“Roll out the bunting. Tomorrow is the 40th anniversary of the modern global economy.” [updated]

“That's right: come Monday morning we will have managed to survive four decades of fiat money – though, given the chaos in markets in recent weeks, it is anyone's guess how much longer it will last…”

Read: “Abandoning the gold standard was a seminal moment, and one we're now all paying for.” 
            – T E L E G R A P H

UPDATE:  I give you the man who gave us our modern crises economy, Richard Nixon, the man who was forced to divorce the US dollar from gold back when it was tied at $40/ounce. Who forced him? It was those speculators, you know.

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