Why Is the U.S. Dollar Running Out of Gold?

The us. Dollar has been pegged to a certain amount of gold, right? And you can do this thing where if you get, you have an american dollar, you can exchange it for that amount of gold. So nixon's ben tring to pay for thevanumwor and he can't. Now every libertarian starts every rant with fiat currency. The modern monetary thry people, if you listen to them, and also peter theele, weirdly, i we'll argue, oh, it's all because of the oil shock.