Jim Reid: “The End Of The Gold Standard Unleashed The Most Inflationary Period Ever”
On Monday, Deutsche Bank’s chief credit strategist Jim Reid released his annual Long-Term Asset Return Study, which marks the 50th anniversary of fiat money – on which it is focused – thanks to President Nixon ending the dollar’s link to gold in August 1971, arguably the most catalytic event that helped unleash the gargantuan wealth inequality we see today. Nixon broke down the Bretton Woods system that linked other currencies to gold, as well through a system of fixed exchange rates.