{"id":33200,"date":"2018-04-07T07:19:37","date_gmt":"2018-04-07T12:19:37","guid":{"rendered":"http:\/\/olduvai.ca\/?p=33200"},"modified":"2018-04-07T07:19:37","modified_gmt":"2018-04-07T12:19:37","slug":"why-a-dollar-collapse-is-inevitable","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=33200","title":{"rendered":"Why A Dollar Collapse Is Inevitable"},"content":{"rendered":"<header class=\"header\">\n<nav class=\"header-nav\">\n<div class=\"_wrapper header-nav__container\"><\/div>\n<\/nav>\n<\/header>\n<section class=\"research-article__hero \">\n<div class=\"research-article__hero__container _wrapper\">\n<div class=\"research-article__hero__content\">\n<h3 class=\"research-article__hero__content__heading quarto-h2\"><a href=\"https:\/\/www.goldmoney.com\/research\/goldmoney-insights\/why-a-dollar-collapse-is-inevitable\">Why A Dollar Collapse Is Inevitable<\/a><\/h3>\n<div class=\"research-article__hero__content__meta\">\n<div class=\"research-article__hero__content__meta__author\"><em><strong>&#8220;Naturally, the smooth termination of the gold-exchange standard, the restoration of the gold standard, and supplemental and interim measures that might be called for, in particular with a view to organizing international credit on this new basis, will have to be deliberately agreed upon between countries, in particular those on which there devolves special responsibility by virtue of their economic and financial capabilities.\u201d<br \/>\n<\/strong><\/em><em><strong>-General Charles de Gaulle, February 1965<\/strong><\/em><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<div class=\"article _wrapper\">\n<article class=\"article__content\">\n<p class=\"\u201dRichText\u201d\">We have been here before \u2013 twice. The first time was in the late 1920s, which led to the dollar\u2019s devaluation in 1934. And the second was 1966-68, which led to the collapse of the Bretton Woods System. Even though gold is now officially excluded from the monetary system, it does not save the dollar from a third collapse and will still be its yardstick.<\/p>\n<p>This article explains why another collapse is due for the dollar. It describes the errors that led to the two previous episodes, and the lessons from them relevant to understanding the position today. And just because gold is no longer officially money, it will not stop the collapse of the dollar, measured in gold, again.<\/p>\n<p>General de Gaulle made himself very unpopular with the international monetary establishment by holding the press conference from which the opening quote was taken. Yet, his prophecy, that the gold exchange standard of Bretton Woods would end in tears unless its shortcomings were addressed by a return to a gold standard, turned out to be correct shortly after. What the establishment did not like was the bald implication that it was wrong, and that the correct thing to do was to reinstate the gold standard. Plus \u00e7a change, as he might say if he was still with us.<\/p>\n<p class=\"\u201dRichText\u201d\">&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Why A Dollar Collapse Is Inevitable &#8220;Naturally, the smooth termination of the gold-exchange standard, the restoration of the gold standard, and supplemental and interim measures that might be called for, in particular with a view to organizing international credit on this new basis, will have to be deliberately agreed upon between countries, in particular those [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[7772,19716,212,213,19717,374,1183,13061,2069,647,839],"class_list":["post-33200","post","type-post","status-publish","format-standard","hentry","category-economics","tag-alasdair-macleod","tag-bretton-woods-system","tag-dollar","tag-dollar-collapse","tag-dollar-devaluation","tag-gold","tag-gold-standard","tag-goldmoney-insights","tag-monetary-system","tag-precious-metals","tag-us-dollar"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33200","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33200"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33200\/revisions"}],"predecessor-version":[{"id":33201,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33200\/revisions\/33201"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33200"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}