All Posts Tagged With: "de-value"

Removing the Gold Standard

Operation Meltdown, Part I

“Fear, Mr. Bond, takes gold out of circulation and hoards it against the evil day. In a period of history when every tomorrow may be the evil day, it is fair to say that a fat proportion of the gold dug out of one corner of the earth is at once buried again in another corner…”

— Ian Fleming’s Goldfinger (1959)

Fifty years ago — just as the fictional 007 was thwarting Auric Goldfinger’s plan to empty Fort Knox and take America’s gold to Soviet Moscow — the U.S. Treasury feared a very genuine loss of…

8Sep2008 | Whiskey and Gunpowder | Comments Off | Continued

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