Viability of a gold standard (at least one with exchange at a fixed rate) ended with the creation on Eurodollars. If every bank can create new dollar claims then those dollars can be used to drain gold reserves from central banks.
I believe Nixon had to suspend convertibility or face having London print new money and slowly transfer all of the US’s gold bank into London’s pockets:
npub1gp…7fuu2
2026-08-10 21:25:16 UTC
in reply to nevent1q…0g97
Author Public Key
npub1gpkaphwt7jftj7fhhjd3mvcngueeu9ls8rulwalkexgygp75agzsy7fuu2Published at
2026-08-10 21:25:16 UTCEvent JSON
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