Nixon Shock – Announces Devaluation of the Dollar for “Stability,” “Protect” Currency from Evil Speculators;

April 18, 2012


Pretty incredible – the guy runs up ridiculous deficits, destroys the economy, then blames speculators. Even more amusing, the guy said he he’s devaluing the dollar versus gold to “protect” it’s value and “stabilize” the currency. That worked out well.

Just for good measure, he sends people further into poverty by raising prices of all imports 10%, and launching a trade war.

All the while, speculators are the cause – whatever. At least we know the playbook of looters like Nixon.  


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