On The Money with Peter Hebert

October 31, 2011

Nixon Ends Bretton Woods International Monetary System

Filed under: Commentary — Peter Hebert @ 2:58 PM

Under Nixon and Volcker, the United States of America came off of the international gold standard and went to a fiat currency. Shortly thereafter, an $80,000 house close in Washington, D.C. became $250,000. During the housing bubble years, that same house topped $1 million.

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