Was it wrong for Richard Nixon to take us off the gold standard?

[Anonymous No.52212659]

Was he right for doing it or do you prefer the silver standard?

[Anonymous No.52212913]

>>52212659
He signed the order but the fed took us off a gold standard long before. Private banks created more $ than the treasury had in gold long before 72/73.
I’m not a fan of Nixon for other things more so, like the war on cancer and drugs that gave tax payers funds to doctors and cops to kill Americans.
Fiat money is horrible but it’s hard to blame tricky dick.

[Anonymous No.52212936]

>>52212659
Why do Republicans always fuck up the country?

[Anonymous No.52212976]

He realized it was gay and tried to renege but at that point he got waterpoopied.

[Anonymous No.52213063]

>>52212659
If he hadn't we would have run out of gold.

[Anonymous No.52213077]

>>52213063
Or he could have stopped spending massive amounts of dollars on the Vietnam war
There was always that option

[Anonymous No.52213139]

>>52212659
Essentially this is historically unfounded. Nixon made the decision to go off the gold standard to prevent a financial crisis caused by Germany and other European countries leaving the Bretton-Woods system, in which other currencies were pegged to dollars, and dollars were pegged to gold. As the US began to run trade and budget deficits in the late 1960s, this system became unstable. Leaving the gold standard was more politically palatable than any other choice Nixon could have made in 1971.

As a matter of economics (but not necessarily the actual historical reason the decision was made) it IS a disadvantage of metallic currency (as opposed to fiat currency) that gold producing countries can effectively cause immediate deflation or a financial crisis by ceasing gold production. These concerns are for the most part academic amonst monetary economists, without being something that has actually happened. The are widely held by economists though, and the current economic embargo against Russia as a result of the Ukraine crisis would be less tenable if it produced a world wide deflationary shock.

That's why i, personally, support cryptos as a whole, as it doesn't have nearly the same problems that metallic currencies have and while it does have more problems as of now than fiat, this is mainly due to the lack of massive adoption. I mean, just look at dextools, as far as defi trading goes its beaten by none and it solves most of the problems that central banking have on people.

[Anonymous No.52213142]

>>52212659
The irony is leftists and Bernie supporters are unironically 1,000% correct about “income inequality,” they just don’t understand HOW it’s happening and it’s because we don’t have sound money anymore.

Then conservatives who are supposed constitutionalists will say, “work harder or get better educated and you’ll make more.” That’s good advice but it doesn’t get at the root of the problem that (((they))) are stealing our wealth thru inflation. “Only gold and silver shall be legal tender.”

People will often compare gold to bitcoin. Bitcoins the NEW Gold. But they aren’t competing at all. Gold even though it’s de-monetized is still worth $1,800 oz. And the reason that so many incels are jumping into crypto is BECAUSE gold doesn’t back the currency anymore and they can’t “make it.” Whereas under a gold standard any hobo working a po-dunk job could easily save and get ahead and “make it” witth a wife and 3 kids while owning a home.

If you gave me the option to be worth 50 million dollars thru crypto in todays world, or go back to a time under a gold standard and work a typical blue collar job in tight knit fulfilling communities I’d take the latter instantly

[Anonymous No.52213144]

>>52213139
Im a college contemporary history professor btw

[Anonymous No.52213160]

>>52213139
The benefits of fiat you mention only exist in the short run. None of them are sustainable. There’s never been a single fiat currency to survive. Ever

[Anonymous No.52213197]

>>52213139
>newfag tier answer
It wasn’t trade deficits it was the fact that they printed more money than they had gold for
This is a low IQ whitewashing of the facts to make it seem like it couldn’t have been avoided
>>52213144
> Im a college contemporary history professor btw
No one cares

[Anonymous No.52213215]

The redpill of the redpill is that the US was already printing more money than gold since the 1930s, but Johnson made it really fucking obvious to foreign countries that the US was full of shit so the Bretton Woods system was going to end regardless either the easy way or the hard way. Nixon took the easy way, which means 50 years later we are eating shit, but in the midst of the cold war a lot of stupid policies like vietnam or afghanistan made sense because the commies were going to run a big russian train on our asses otherwise.

The problem is that dipshits after the cold war (BOOMERS) kept all these emergency policies in place because they made a lot of money off them.

Blaming nixon is pointless because he's not the one who decided to print 10 trillion dollars for the iraq war and another 10 trillion for the 2008 recession. Boomers did that, because it made them rich at your expense.

[Anonymous No.52213232]

>>52212659
Nixon would be my favorite prez if not for this. Brilliant and handsome was he.

[Anonymous No.52213234]

>>52213077
Nixon literally ended the vietnam war.

[Anonymous No.52213334]

>>52212659
DeGaul buck broke the US

[Anonymous No.52213352]

https://decodingsymbols.wordpress.com/2022/10/04/tom-banks-bretton-woods-to-forrest-gump-to-tiger-woods/
if you want to know the truth read that
it fucked over bankers who then set up the watergate scandal

[Anonymous No.52213421]

>>52213234
>>52213352
Both revisionist history

Nixon stopped us from ending the war both in 68 while running and during his first four years. He only agreed to the Paris peace accord after stonewalling for 4 years and begging the Vietcong not to make peace in 68
Nixon ending the gold standard didn’t fuck the bankers it made things even worse for tax payers
Spending only increased after 73

[Anonymous No.52213695]

>>52212659
Nixon is the worst president in American History for this action alone, forget watergate and opening up china. It could be prevented by Not Printing so much money in funding a bunch of Proxy wars all over the place and Vietnam witch was defidently an inflationary event that could have been prevented. France Pulled out of Vietnam, thats when we shoud have.

[Anonymous No.52213733]

>>52213232
This must be bait

[Anonymous No.52215393]

>nixon axed our economy
>regean and nixon opened the shitskin floodgates
>the wars
>democrats inciting niger violence
i want to strangle boomers

[Anonymous No.52215474]

"Let me just read this."

"Nixon's spirit will be with us for the rest of our lives whether your are me or Bill Clinton or you or Kurt Cobain or Bishop Tutu or Keith Richards or Aimee Fisher or Boris Yeltsin's daughter or her finance's sixteen year old beer-drunk brother with his braided goatee with his whole life like a thunder cloud right in front of him."

"This is not a generational thing you don't even have to know who Richard Nixon was to be a victim of his ugly nazi experiments."

"He has poisoned our water forever. Nixon will be remembered as a classic case of a smart man shitting in his own nest, but he also shit in our nest and that was the crime that history will burn on his memory like a brand. By disgracing and degrading the presidency of the United States, by fleeing the White House like a diseased cur, Richard Nixon broke the heart of the American Dream..."

[Anonymous No.52215508]

>>52212659
If he hadn't, all this wealth wouldn't have been created as quickly as it did.

[Anonymous No.52215553]

>>52212936
republicans are savages. only care for themselves and violence