Nixon's Gamble: The End of the Gold Standard

The episode examines the dramatic events of August 1971 when President Nixon suspended the dollar's convertibility to gold, ending the Bretton Woods system. We explore the mounting pressures that led to this decision, including Vietnam War expenses and growing trade deficits. The episode details the immediate global market reaction and explains how this decision fundamentally altered international finance, creating the modern floating exchange rate system we know today. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices