A digital Nixon Shock? – MENAFN.COM
- Date: 31-Jul-2021
- Source: MENAFN
- Sector:Technology
- Country:Gulf
A digital Nixon Shock? – MENAFN.COM
(MENAFN - Gulf Times) We are approaching the 50th anniversary of the so-called Nixon Shock, one the most decisive ruptures in monetary history. On August 15, 1971, US president Richard Nixon announced in a televised address that he was“closing the gold window.” By ending the dollar’s convertibility into gold (at an official rate of $35 per
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