40 years since Nixon cut the final currency free from Gold!
I heard Nixon's radio broadcast in a limousine when leaving Tulsa airport, having just landed from Europe. I guessed at the time this would prove the end of the Western world as I had known it until then! Had I also known the consequences would take some forty plus years to finally arrive, then maybe I would not have worried so much in the interim.
Three years ago this summer I blogged on an English traitor, Edward Heath, of whose venal scheming, we are also only now beginning to understand the full consequences! Linked here, I repeat that post for its historical implications, herewith:
The Margaret Thatcher Foundation has obtained the papers on Edward Heath's betrayal of the country under the Freedom of Information Act and they may be read from this link. I find this section of the secret minutes on the conclusion of the meeting between Heath and Pompidou on 20th and 21st May, 1971 particularly interesting:
Quite clearly if only the aspects affecting "vital national interests" were to be determined by unanimity, everything else, including all the day to day matters of routine governance, would be handled on the basis of qualified majority voting, exactly as we are experiencing to our enormous cost to this very day. Note how the reference to majority voting in the French is excluded from the English text and the curious spelling of "process" a good hint as to the mother tongue of the writer. (procès in the French are legal proceedings rather than process in English which generally means a series of actions or events).
Amazingly enough we are also today finally experiencing the end result of Nixon's decision to cut the dollar free from the Gold Standard, effectively releasing every other paper currency in the world to seek its own proper value when controlled by venal and self-seeking politicians - namely zero. The Nixon announcement also in 1971 may be viewed on YouTube.
Abandoning Bretton Woods some Bugaboo in 2008!
Note also the penal import taxes announced by Nixon!
Some have been arguing on this anniversary, that Bretton Woods was as good as dead anyway, in my mind, however, even as all the other currencies floated, if the US Dollar stayed tied to gold, then the link through that reserve currency was tenuously maintained - when everything hangs lose and discipline disappears all across society - why then you get riots, as in London last week!
Three years ago this summer I blogged on an English traitor, Edward Heath, of whose venal scheming, we are also only now beginning to understand the full consequences! Linked here, I repeat that post for its historical implications, herewith:
§§§§§
How Heath betrayed Britain and Nixon the USA in 1971
The Margaret Thatcher Foundation has obtained the papers on Edward Heath's betrayal of the country under the Freedom of Information Act and they may be read from this link. I find this section of the secret minutes on the conclusion of the meeting between Heath and Pompidou on 20th and 21st May, 1971 particularly interesting:
Quite clearly if only the aspects affecting "vital national interests" were to be determined by unanimity, everything else, including all the day to day matters of routine governance, would be handled on the basis of qualified majority voting, exactly as we are experiencing to our enormous cost to this very day. Note how the reference to majority voting in the French is excluded from the English text and the curious spelling of "process" a good hint as to the mother tongue of the writer. (procès in the French are legal proceedings rather than process in English which generally means a series of actions or events).
Amazingly enough we are also today finally experiencing the end result of Nixon's decision to cut the dollar free from the Gold Standard, effectively releasing every other paper currency in the world to seek its own proper value when controlled by venal and self-seeking politicians - namely zero. The Nixon announcement also in 1971 may be viewed on YouTube.
Abandoning Bretton Woods some Bugaboo in 2008!
§§§§§
Note also the penal import taxes announced by Nixon!
Some have been arguing on this anniversary, that Bretton Woods was as good as dead anyway, in my mind, however, even as all the other currencies floated, if the US Dollar stayed tied to gold, then the link through that reserve currency was tenuously maintained - when everything hangs lose and discipline disappears all across society - why then you get riots, as in London last week!
Labels: Edward Heath, Nixon
posted by Martin at 8:46 PM
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