August 27, 2012 at 09:00 AM EDT
How to Play a Republican Party Gold Standard Commission
For the majority of the past century, the U.S. has been on the gold standard, which ensured that our currency was backed by physical gold . But that changed in 1971 when President Nixon announced the end of the gold standard in order to deal with hyperinflation and the exorbitant costs of the Vietnam war among other things. Ever since, the value of the U.S. dollar has been on a slippery slope, as this move opened the doors for new generations of Fed members to print money at will: see Ben Bernanke [for more commodity news and analysis subscribe to our free newsletter ]. See the full story here → Related Posts: How to Trade Gold Futures The Ultimate Guide To Gold Investing Soros Sells Gold ETFs, Bad News For Precious Metal Investors? George Soros Eats Own Words, Doubles Down On GLD Why Gold is Going to $10,000: Q&A with Nick Barisheff
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