45th Anniversary: The Day Nixon Killed Keynes’ Phony Gold Standard

by Gary North

My generation says: “Each of us can remember where he was when he heard about Kennedy’s assassination.

I can remember where I was when I heard about Nixon’s killing of the phony gold standard that John Maynard Keynes and the Soviet spy Harry Dexter White designed in 1944.

It was a Sunday afternoon: August 15, 1971. I was preparing to leave Riverside, California to move to Irvington-on-Hudson, New York, to get my first full-time job. I would soon be a senior staff member of the Foundation for Economic Education. I would never again attend a graduate seminar. Free at last! Free at last!

The phone rang. My friend Bob Warford told me the news.

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