Our misguided entry into the Vietnam war pushes us over the edge. The US was already showing signs of monetary problems and they could have been corrected but once we jumped into the policeman of the world state in Vietnam we pretty much started digging the hole. Things to note, It was illegal for Americans to hold gold bullion in 1965. gold was pegged at 35 dollars an ounce. #1 France fires the first shot. http://news.google.com/newspapers?id=SU0aAAAAIBAJ&sjid=jycEAAAAIBAJ&dq=gold&pg=6987,3310834 Jan, 8 1965 "Treasury officials said friday they were not worried about France's plan to cash in for United States gold 150 million dollar she holds in currency" ..... ..