Special Edition: De-Dollarisation and the New Monetary Order
Multipolarity
The End of the Gold Standard
In 1971, Richard Nixon finally bows to the inevitable and breaks the link of dollar to gold. Philippa: The US were a little hubristic when they adopted the bread-on-wood system. They thought that they'd never full subject to the forces that other countries would experience. This was not an American decision, it was not an all American decision,. It was a series of mistakes, a little bit of hubris, and they were eventually knocked off their perch by the French.
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