F. William Engdahl -- GODS OF MONEY -- Chapter 14

F. William Engdahl
Strasse der Republik 17 Wiesbaden Hessen 65203 GERMANY

Dear Reader,

I want to share a section from my book, Wall Street and the Death of the American Century. The death of former Federal Reserve and US Treasury official, Paul Volcker, at age 92 has led to much misplaced praise of his legacy. What is rarely mentioned is the true role he played in what I consider the most fateful and damaging monetary decision of the past half-century, the decision to decouple the US dollar from gold and to open the floodgates to the greatest peacetime inflation in US postwar history. I hope you find it interesting as we live with the consequences today.

I would ask you to consider buying the book or one of my other books noted at the top of my website. Otherwise if you are able to I greatly appreciate any support contribution via my website PayPal to allow us to maintain free content in a time of growing media suppression of free thought on the internet.

With best regards,

William Engdahl

www.williamengdahl.com

  

http://www.williamengdahl.com/books.php

Copyright © F. William Engdahl. All rights reserved.                                             

Chapter Fourteen:  

                  Nixon walks away from Bretton Woods

You’ve shown how the United States has run rings around Britain and every other empire-building nation in history. We’ve pulled off the greatest rip-off ever achieved.

         --Herman Kahn of Hudson Institute in 1971 when informed how US   payments deficits could be used to exploit other countries [i]

1971: Beginning of the endgame

The early 1970s were a watershed in policy for the American establishment. Dramatic measures were needed to ensure the continued domination of the United States as global economic and financial superpower. It was not at all obvious how they would do it. Soon enough however, the powers that dominated Wall Street developed a strategy.