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Nixon Broke With Gold 50 Years Ago What Comes Next?

La grande fluctuation

La grande fluctuation par Barry Eichengreen BERKELEY - Le 15 août est rarement une journée mémorable. Certes, c est un 15 août qu eut lieu l ouverture du festival de musique de Woodstock en 1969, et que le canal de Panama s ouvrit au trafic en 1914. La plupart du temps, la mi-août reste néanmoins une période de vacances pour les responsables politiques et leurs compatriotes. Le dimanche 15 août 1971 fait figure d exception. Ce soir-là, il y a 50 ans, à l issue de trois jours de réunions de crises, le président Richard M. Nixon annonce que les États-Unis mettent fin unilatéralement à l étalon-or, mécanisme financier

The big float

The big float Jun 26,2021 - Last updated at Jun 26,2021 BERKELEY August 15 is not a red-letter day on most calendars. True, August 15, 1969, was the first day of the Woodstock music festival. And the Panama Canal opened to traffic on August 15, 1914. Mostly, though, mid-August finds officials and others on holiday. But not on Sunday, August 15, 1971. That evening 50 years ago, at the conclusion of three days of crisis meetings, President Richard M. Nixon announced that the United States was preemptively closing the “gold window”, the financial facility through which the country made gold available to foreign governments and central banks at $35 an ounce. To contemporaries and historians alike, Nixon’s announcement marked the end, or at least the beginning of the end, of the Bretton Woods international monetary and financial system. And that meant it marked the end, or at least the beginning of the end, of American economic and monetary hegemony. The postwar period when the

The big float

The big float
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This Day In Market History: Central European Banking Systems Begin To Collapse

This Day In Market History: Central European Banking Systems Begin To Collapse Benzinga 5/11/2021 © Provided by Benzinga Each day, Benzinga takes a look back at a notable market-related moment that happened on this date. What Happened: On this day in 1931, the bankruptcy of Austria’s largest bank accelerated the financial collapse of Central Europe. Popular Searches Where Was The Market: The S&P 500 was trading around 14.33, while the Dow Jones Industrial Average traded around 141.45. Both were mid-plunge. What Else Was Going On In The World: The Empire State Building had recently opened in New York City, and Al Capone was preparing to plead guilty to tax evasion and prohibition charges.

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