Friday, August 19, 2011

DE GAULLE predicted the US monetary crisis in 1965

Now you know why Charles de Gaulle sent warships to New York to take delivery on gold bars they purchased with USDollars, still redeemable for gold at the time.  The US Treasury was literally running out of gold because the French and Italian government purchases were depleting the Treasury's gold reserves.  This forced the hand of President Nixon to close the gold window on August 15, 1971.

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