One Weekend Speech Wiped Out 27 Years of the Global Monetary Order
On August 15, 1971, after a weekend of closed-door meetings at Camp David, President Richard Nixon went on television to announce that the United States would stop converting dollars into gold. In a single speech, the Bretton Woods monetary system, which had stood for 27 years, collapsed - and the world entered the era of floating fiat currency we still live in today.
Think & Rich