Tuesday, November 17, 2009

President Richard Nixon Ends The Bretton Woods Agreement

God bless YouTube - TILB had never seen this before.

To think that our non-existent respect for Nixon could go lower would have been a challenge, but listening to him help lay the groundwork for the dollar's destruction makes us sick to our core. The below is video of his infamous decision to end the dollar's convertibility. The talk resonates particularly powerfully today as the media celebrates Helicopter Ben's "stabilizating" debasement efforts.

Beware what you wish for.