I just happen to have found this video:
Nixon Ends Bretton Woods International Monetary System (On YouTube)
It is an extraordinary event that happened then: the United States devalued its currency and defaulted on its debt.
What is not so extraordinary is how many lies and nonsense Nixon manages to put into his speech. In a typically corrupt politician, he begins his sentences by stating a real issue but by giving a completely wrong solution or even worse, by announcing some actions that are completely irrelevant to the issue he just mentioned just to achieve their (him and his fellow conmen in the establishment) own personal goal.
Here are examples:
- He needs to build a new prosperity: creating jobs and containing inflation and protecting the value of the dollar. How will he achieve that? With devaluation!
- The dollar is collapsing in value because of the money printing of the Fed (= inflation). He blames the "international money speculators" for the trouble on the American dollar and all other currency crisis.
- How does he defend the dollar? By suspending the convertibility of the USD into gold and other assets (my guess: silver).
- How will devaluation impact US Citizens? Devaluation doesn't impact the US citizens who want to buy American made products in America and it will actually stabilize the dollar!!!
- "The US Dollar must never again be a hostage in the hands of international speculators." Is he talking about the Fed and other fellow bankers of the proponents of the partial reserve banking?
- Finally, to protect the US dollar and the American citizens, he creates a 10% tariff on all goods imported into the United States (just "to make sure that American products are not disadvantaged by unfair exchange rates" - what is an unfair exchange rate???). So basically, by forcing the US Citizen to pay a higher price for the product they wanted or to be forced to buy another one instead not impacted by the tariff, he will help the American citizens? Tariffs are only beneficial for the companies which products are facing competition. They are detrimental to the general population, but beneficial for shareholders of some companies (the Establishment...)