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Posts Tagged: “Richard Nixon“
An Inauspicious Anniversary: Nixon Slams Shut the Gold Window
Fifty-one years ago this week, President Richard Nixon slammed shut the “gold window” and eliminated the last vestige of the gold standard. Nixon ordered Treasury Secretary John Connally to uncouple gold from its fixed $35 price and suspended the ability of foreign banks to directly exchange dollars for gold. During a national television address, on […]
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Ron Paul: From Nixon Shock to Biden Inflation
This month marks the 50th anniversary of President Richard Nixon slamming shut the so-called “gold window” and severing the last ties between the dollar and gold. On Aug. 15, 1971, Nixon ordered Treasury Secretary John Connally to uncouple gold from its fixed $35 price and suspended the ability of foreign banks to directly exchange dollars […]
The Great Government Gold Heist of 1933
Yesterday marked the anniversary of the great government gold heist of 1933 ordered by President Franklin D. Roosevelt. On April 5, 1933, the president signed Executive Order 6102. It was touted as a measure to stop gold hoarding, but it was in reality, a massive gold confiscation scheme. The order required private citizens, partnerships, associations […]
Recession Warning! SchiffGold Friday Gold Wrap Aug. 16, 2019
The bond market flashed a major recession warning sign as the yield curve inverted this week. Meanwhile, Trump whipsawed markets when he appeared to blink in the never-ending trade war with China. That made for an interesting week for gold. In this week’s Friday Gold Wrap podcast, host Mike Maharrey breaks down the events of […]