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The Long Road to Freegold

IMG Auteur
Published : August 15th, 2011
401 words - Reading time : 1 - 1 minutes
( 3 votes, 5/5 )
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On this, the 40th anniversary of the Nixon Shock, you will probably see the video below of Nixon closing the gold window at some of your favorite sites. Most will call it a crime for the purpose of promoting their expectation of justice defined as turning back the clock to the old gold standard. But it may be more instructive to think about this momentous occasion, 40 years ago today, as one of the many necessaryyet painfulsteps on the long road to Freegold. So I thought I'd present this same video in a more appropriate context.

Please take the time to understand FOFOA's dilemma if you'd like to grasp the importance and significance of the long-line Trail exhibited below:

FOFOA's dilemma: When a single medium is used as both store of value and medium of exchange it leads to a conflict between debtors and savers. FOFOA's dilemma holds true for both gold and fiat, the solution being Freegold, which incidentally also resolves Triffin's dilemma.

The Last Gasp of the Failed Scheme of Government Price-Controlled Bimetallism – 1896

The Last Gasp of the subsequent Gold Standard – 1933

FDR explains the Bank Holiday – 1933

FDR explains the new US gold scheme – 1933

Birth of the new Bretton Woods Gold Price-Fixing Scheme – 1944

Charles de Gaulle foretells a Bretton Woods gold price-fixing scheme crisis – 1965

Nixon closes the US Gold Window – August 15, 1971

The Euro-Freegold project launches after decades of planning – 1999-2002

Tuesday, January 1, 2002 - Launch of euro notes and coins
Friday, February 8, 2002 - GOLD ABOVE $300
Monday, December 1, 2003 - GOLD ABOVE $400
Thursday December 1, 2005 - GOLD ABOVE $500
Monday, April 17, 2006 - GOLD ABOVE $600
Tuesday, May 9, 2006 - GOLD ABOVE $700
Friday, November 2, 2007 - GOLD ABOVE $800
Monday, January 14, 2008 - GOLD ABOVE $900
Monday, March 17, 2008 - GOLD ABOVE $1000
Monday, November 9, 2009 - GOLD ABOVE $1100
Tuesday, December 1, 2009 - GOLD ABOVE $1200
Tuesday, September 28, 2010 - GOLD ABOVE $1300
Wednesday, November 9, 2010 - GOLD ABOVE $1400
Wednesday, April 20, 2011 - GOLD ABOVE $1500
Monday, July 18, 2011 - GOLD ABOVE $1600
Monday, August 8, 2011 - GOLD ABOVE $1700

Happy Anniversary!


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