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Returning to the gold standard median (in blue) will not be allowed! We must malinvest exponentially again (in red)!
The post-war international gold-US dollar standard
Starting in the 1959-1969 administration of President Charles de Gaulle and continuing until 1970, France reduced its dollar reserves, exchanging them for gold at the official exchange rate thereby reducing US economic influence. This, along with the fiscal strain of federal expenditures for the Vietnam War and persistent balance of payments deficits, led US President Richard Nixon to end the direct international convertibility of the dollar to gold on August 15, 1971 (the "Nixon Shock").
Malinvestment
Malinvestment is a concept developed by the Austrian School of economic thought, that refers to investments of firms being badly allocated due to what they assert to be an artificially low cost of credit and an unsustainable increase in money supply, often blamed on a central bank.
Source Data:
St. Louis Fed: Custom Chart
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