In the long history of governments and central banks deceiving the people, August 15,1971 was just another date in the calendar. Throughout history, the ruling elite has always cheated the people. But the leaders’ irresponsible actions are always revealed as in the end they always fail.
Still, in modern times August 15th 1971 was a monumental day. That day was not the end of the financial system, and not even the beginning of the end. But is was perhaps the end of the beginning. Historians will recognise this paraphrasing of Churchill after the Allies’ El Alamein victory in 1942. Read more…