Money Does Matter: The End of the Gold Standard Led to a Lower Standard of Living

Money Does Matter: The End of the Gold Standard Led to a Lower Standard of Living

SGT Report - 2022-08-27 - Original post - Cached copy

by André Marques, Mises Institute: On August 15, 1971, Richard Nixon announced that the US dollar (USD) would no longer be redeemable in gold. This was supposed to be temporary. And yet, fifty-one years later, here we are. The gold standard was gradually destroyed in the twentieth century. Now people are experiencing the consequences: less purchasing power, more […]

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