<p>The episode examines the dramatic events of August 1971 when President Nixon suspended the dollar's convertibility to gold, ending the Bretton Woods system. We explore the mounting pressures that led to this decision, including Vietnam War expenses and growing trade deficits. The episode details the immediate global market reaction and explains how this decision fundamentally altered international finance, creating the modern floating exchange rate system we know today.</p>

The episode examines the dramatic events of August 1971 when President Nixon suspended the dollar's convertibility to gold, ending the Bretton Woods system. We explore the mounting pressures that led to this decision, including Vietnam War expenses and growing trade deficits. The episode details the immediate global market reaction and explains how this decision fundamentally altered international finance, creating the modern floating exchange rate system we know today.

Nixon's Gamble: The End of the Gold Standard

A deep-dive series into pivotal moments that transformed the global economy. Each episode explores a historical event, policy, or innovation—like the rise of China, the 2008 financial crisis, or the birth of cryptocurrencies—and its lasting impact.

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The Big Shifts

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