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It's August 15th - Where Is Your Gold?

When President Nixon closed the gold window on August 15, 1971, he sold it to Americans as a way to recover from the "war economy" of Vietnam and a way to combat inflation. As we know 45 years later, the proliferation of paper dollars has, if anything, made war all the more attractive, giving people the impression that it can be financed with dollars out of thin air. And inflation? While officially it sits at around zero, in fact you would need $594.28 to purchase today what you could purchase for $100 in 1971. The warfare state is driven by the fiat dollar. More on the fateful Nixon decision and its implications in today's Liberty Report:

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