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Episode 84: "Three Days at Camp David"
In William Greider's mammoth book Secrets of the Temple: How the Federal Reserve Runs the Country, he writes:
"If historians searched for the precise date on which America’s singular dominance of the world’s economy ended, they might settle on August 15, 1971. On that day, President Nixon abruptly changed the monetary rules under which nations had traded with one another for twenty-five years. From World War II onward, the United States was the wealthiest, most productive and most stable of the competing economies in the world. Its currency, the dollar, was the guarantee for everyone of order and stability in international trade and finance. President Nixon’s announcement, without saying so explicitly, meant the dollar was now too weak to lead."
In Three Days at Camp David: How a Secret Meeting in 1971 Transformed the Global Economy Jeffrey Garten details the three-day meeting that removed the US dollar from the gold standard. If you caught my "Crossover Episode: 'Money for Nothing: Inside the Federal Reserve'" you may remember we learned that, by 1981, $1 was worth about 45 cents. In Spring of 2024, a Swiss banker warned that the US dollar had lost 99% of its value.
Links:
https://www.amazon.com/Three-Days-Camp-David-Transformed/dp/006288767X
https://www.buzzsprout.com/2289560/episodes/14944551
https://www.blackstone.com/
Need more? You can visit the website at: https://consaracytheories.com/ or my own site at: https://saracausey.com/. Don't forget to check out the blog at: https://consaracytheories.com/blog.
****
My award-winning biography of Dag is available on Amazon: https://www.amazon.com/Decoding-Unicorn-New-Look-Hammarskj%C3%B6ld-ebook/dp/B0DSCS5PZT
My forthcoming project, Simply Dag, will be available next summer.
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By Sara CauseyIn William Greider's mammoth book Secrets of the Temple: How the Federal Reserve Runs the Country, he writes:
"If historians searched for the precise date on which America’s singular dominance of the world’s economy ended, they might settle on August 15, 1971. On that day, President Nixon abruptly changed the monetary rules under which nations had traded with one another for twenty-five years. From World War II onward, the United States was the wealthiest, most productive and most stable of the competing economies in the world. Its currency, the dollar, was the guarantee for everyone of order and stability in international trade and finance. President Nixon’s announcement, without saying so explicitly, meant the dollar was now too weak to lead."
In Three Days at Camp David: How a Secret Meeting in 1971 Transformed the Global Economy Jeffrey Garten details the three-day meeting that removed the US dollar from the gold standard. If you caught my "Crossover Episode: 'Money for Nothing: Inside the Federal Reserve'" you may remember we learned that, by 1981, $1 was worth about 45 cents. In Spring of 2024, a Swiss banker warned that the US dollar had lost 99% of its value.
Links:
https://www.amazon.com/Three-Days-Camp-David-Transformed/dp/006288767X
https://www.buzzsprout.com/2289560/episodes/14944551
https://www.blackstone.com/
Need more? You can visit the website at: https://consaracytheories.com/ or my own site at: https://saracausey.com/. Don't forget to check out the blog at: https://consaracytheories.com/blog.
****
My award-winning biography of Dag is available on Amazon: https://www.amazon.com/Decoding-Unicorn-New-Look-Hammarskj%C3%B6ld-ebook/dp/B0DSCS5PZT
My forthcoming project, Simply Dag, will be available next summer.