Why Did We Reject The Gold Standard For Our Money?

Discussion in 'Politics & Religion' 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!