NOT ONLY FEET OF CLAY, BUT BRAINS OF SILLY PUTTY

NOT ONLY FEET OF CLAY, BUT BRAINS OF SILLY PUTTY, USA, PRESIDENT RICHARD NIXON, FIXED EXCHANGE RATE, - IMAGE: Nixon’s first public appearance after he became the first president to resign from the position in August 1974 (Getty)

It is 55 years to the day since Lyndon LaRouche issued his famous warning about the implications of the Aug. 15, 1971 Nixon administration decision to deliver the coup de grace to the post-war fixed exchange rate international financial system, and replace it with a speculation-friendly floating rate system, including the decoupling of the dollar […]