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Bob gives a brief history of money in the United States, explaining that the dollar was much “harder” in, say, 1810 than it was in 1910. This explains why there was significant consumer price inflation even in 1970, the year before Richard Nixon officially severed the dollar’s link to gold.

Mentioned in the Episode and Other Links of Interest:

​For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on Apple Podcasts, Google Podcasts, Stitcher, Spotify, and via RSS.

 

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The “Nixon Shock” Was Only the Final Nail in the Coffin of the Gold Dollar