🔥 The day the dollar lost its gold... and became just paper
Bretton Woods 1944
The world relied on the dollar linked to gold ($35/ounce). The idea of the system: global stability with a single currency.
🔹 The problem
America began printing money without limits to finance the Vietnam War and its programs, and gold no longer covered all the dollars.
📥 De Gaulle's move 1965
The French president refused to allow the world to be hostage to an unregulated dollar.
He sent warships to exchange dollars for gold from Fort Knox!
France was followed by other countries, and American gold reserves began to bleed.
📥 Nixon's decision 1971
He closed the “gold window” and announced: the dollar was no longer convertible to gold.
And from here began the era of unbacked paper money.
📥 The results
• Inflation and limitless debts.
• Currency wars and recurring financial crises.
📥 Today...
Just as France challenged the dollar yesterday, there are now blocs (China, Russia, and others) accumulating gold and searching for alternatives.
🪙 In summary:
Paper can be printed endlessly... but gold remains gold.
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