Understanding the Gold Standard
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Understanding the Gold Standard
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About this listen
Life after gold: Did you know that the US dollar was once tied to gold until it wasn't? Gold has been used as currency since humanity first discovered its lustrious power. So, why did the US and other countries abandon the connection of the dollar to gold? In this episode of CMI Gold & Silver Johnny on the Spot, Johnny and Shannon break down what happened to our monetary connection to gold and decode the consequences of abandoning it. Learn about Franklin D. Roosevelt's role in ending the gold standard, the meeting at Bretton Woods, and how the "Nixon Shock" in the 70s ended it all.
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