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The Nixon Shock: The Golden Rule at Bretton Woods (Part 1)
57:33
Gold, power, war, and spies—this series has it all. On August 15th 1971, President Nixon announced that he was suspending the dollar’s convertibility into gold. This announcement upended the Bretton Woods monetary system and set the world on a course towards floating exchange rates with the US dollar as a fiat reserve currency for world trade—a system that is under significant pressure…