{"id":211,"date":"2021-08-13T23:29:00","date_gmt":"2021-08-13T22:29:00","guid":{"rendered":"https:\/\/imruls.blog\/?p=211"},"modified":"2021-08-13T23:29:00","modified_gmt":"2021-08-13T22:29:00","slug":"dropping-gold","status":"publish","type":"post","link":"https:\/\/imruls.blog\/?p=211","title":{"rendered":"Dropping Gold"},"content":{"rendered":"\n<p>By 1971, U.S. debt had simply grown too high. Just $11 billion in gold <a rel=\"noreferrer noopener\" href=\"https:\/\/foreignpolicy.com\/2021\/01\/15\/rise-fall-united-states-financial-empire-dollar-global-currency\/\" target=\"_blank\"> backed<\/a> $24 billion in dollars. That August, French President Pompidou sent a <a rel=\"noreferrer noopener\" href=\"https:\/\/scholarship.law.columbia.edu\/cgi\/viewcontent.cgi?article=3545&amp;context=faculty_scholarship\" target=\"_blank\">battleship<\/a> to New York City to collect his nation\u2019s gold holdings from the Federal Reserve, and the British asked the U.S. to prepare $3 billion worth of gold held in Fort Knox for withdrawal. In a televised <a rel=\"noreferrer noopener\" href=\"https:\/\/www.cvce.eu\/content\/publication\/1999\/1\/1\/168eed17-f28b-487b-9cd2-6d668e42e63a\/publishable_en.pdf\" target=\"_blank\">speech<\/a> on August 15, 1971, President Richard Nixon told the American people that the U.S. would no longer redeem dollars for gold as part of a plan that included wage and price freezes and an import surcharge in an attempt to save the economy. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>By 1971, U.S. debt had simply grown too high. Just $11 billion in gold backed $24 billion in dollars. That August, French President Pompidou sent a battleship to New York City to collect his nation\u2019s gold holdings from the Federal Reserve, and the British asked the U.S. to prepare $3 billion worth of gold held [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-211","post","type-post","status-publish","format-standard","hentry","category-excerpts"],"blocksy_meta":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/imruls.blog\/index.php?rest_route=\/wp\/v2\/posts\/211","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/imruls.blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/imruls.blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/imruls.blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/imruls.blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=211"}],"version-history":[{"count":0,"href":"https:\/\/imruls.blog\/index.php?rest_route=\/wp\/v2\/posts\/211\/revisions"}],"wp:attachment":[{"href":"https:\/\/imruls.blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/imruls.blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/imruls.blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}