How Gold Has Measured Currency Performance…since 1971, when it became a ‘barbarous relic’

by BMG Admin on September 25, 2012

Courtesy of Julian Phillips

In 1971 President Nixon closed the window that allowed U.S. dollars to be sold for gold owned by the U.S. Just before that, the price of gold was $35 an ounce. Since then gold has been called a ‘barbarous relic’, a term used by Keynes, the famous economist.

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