Replying to Avatar denimdan0947437051

Ok, BUT, the whole reason Nixon ended the gold-dollar (generalizing) was because some Eurozone countries (*cough *France *cough) we’re taking advantage of the standard to get gold for a “better” price. Then people started claiming the end [of the dollar] is nigh. History shows the end was not nigh…

Just questioning how non-major / regional players will ever be able to destroy the dollar with gold… if a major world power wasn’t able to do it back in the 70s?
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BankSith 1y ago

I disagree. Shouldn’t we better describe it this way.. France wants to redeem its USD for Gold. Show me the f money. Yankee replied to de Gaulles to f off… Well

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denimdan0947437051 1y ago

Nope, I agree with that. But my question is more along the lines of, haven’t people been claiming that a country can essentially bank run “the world” by using precious metals ever since? And how would the UAE be in a better position now than France was then? Comprende?

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BankSith 1y ago

The issue is centralization. The US basically took the wold hostage in 1913/1945 with the FED and Bretton Woods. There was no issue with a goldstandard in 1890. Germany prospered. So did the rest of the world.