On August 15, 1971, Nixon announced the US would “temporarily” close the gold window – ending the convertibility of Dollars into gold that had been key to the postwar Bretton Woods system. What didn’t change in 1971, though, was every bit as important as what did.
July 28th, 2011 | Ben Traynor | 1 comment | ContinuedArchive for Ben Traynor
Editor of Gold News, the analysis and investment research site from world-leading gold ownership service BullionVault, Ben Traynor was formerly editor of The Fleet Street Letter, the UK’s longest-running investment letter. A Cambridge economics graduate, he is a professional writer and editor with a specialist interest in monetary economics.
Debt vs. Gold: The Hidden Link Explained
Europe and Washington’s debt ceiling squabble has seen the gold price breach $1600 per ounce. The financial media’s line is that investors are scared and gold represents a “safe haven”. But what are investors scared of that’s led them to bid the gold price higher?
July 21st, 2011 | Ben Traynor | 0 comments | Continued
Gold, Gresham’s Law & the Dong
What happens when people actively shun their official currency…? Governments are often tempted to live beyond their means. Today, that means national debts and quantitative easing. But a few hundred years ago, it meant debasing coinage.
May 4th, 2011 | Ben Traynor | 0 comments | Continued
