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Monday, August 15, 2011
Nixon’s Worst Act
Far more damaging to the United States and to the free world than Watergate was Nixon’s abandonment of our limited gold standard on August 15, 1971. Without that supremely ill-advised action, there would have been no dot-com boom-and-bust and no subprime mortgage meltdown that crippled the world’s banks, not to mention the devastating stagflation that it unleashed.
Read the New York Sun editorial:
Posted by Thomas E. Brewton on 08/15 at 10:29 PM
Economics •
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