The Dollar Was as Good as Gold

By the early 19 seventies, europe and japan were enjoying a post war economic boom. Inflation was on the rise,. And whilst the gold standard agreement was good for the rest of the world, it was dragging the us. Down. An economic collapse was imminent. Americans were feeling the pain in their pockets which nixon worried might cost him the 19 72 election. The president couldn't afford his economy to start sputtering now so he got together a crack team to reboot it. They finalized the plan that would change America's financial system. On sunday, fifteenth of august, nixon interrupted the wild west bonanza by suspending temporarily the convertibility of the dollar in