Why Did We Reject The Gold Standard For Our Money?

Discussion in 'Politics' started by Scataphagos, Dec 21, 2009.

  1. Simple.

    Nixon got tired of our creditors "holding our feet to the fire" when we stole from everybody.

    Nixon made it difficult/impossible for us to be held accountable for grand larceny.
  2. Ricter


    So that we could borrow from the future to fund a war today. Same reason everyone else rejected the gold standard.
  3. Wallet


    So we could print more money,

    A good read on the subject.

    "Paper Money" by Adam Smith, dell publishing Co copyright by George J W Goodman.1981
  4. Ricter


    Unless we go back to carrying gold flakes in vials, and tweezers to extract them, paper is still going to be used.
  5. loik


    Gold standard doesn`t necessarily mean that you carry gold!