LaRouchePAC Daily

Financial Blowout Before the U.S. Midterm Elections in November? Time For a Four Powers Agreement and a New Bretton Woods

Wednesday, August 15, 2018, was the 47th anniversary of Richard Nixon’s Aug. 15, 1971 announcement that he was taking the dollar off the gold standard, which de facto meant the destruction of the post-war Bretton Woods system. This opened the floodgates to the creation of a London-based “dollar” currency for global speculation, a cancer which ended up taking over the U.S.-based dollar itself. It also was the end of the entire fixed exchange rate system for trade between nations, which meant that, for developing sector nations, the wall between international speculation and their national currencies was demolished. Whole nations once again became colonial satrapies of the City of London with a living hell of war, drugs, and poverty quickly taking over.READ MORE

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