In 1971, U.S. President Richard Nixon officially cut the link between the dollar and gold in a move seen by many as the biggest monetary error in history.
Nixon’s decision to close the “gold window” left us with a monetary system of unlimited money printing. But money becomes worthless if too much is printed.
And this is exactly what happened in 2020: as the COVID crisis was taking a swing at the global economy, most countries started printing money like never before.
Watch this video by Libre & Riche to learn how to protect yourself and your wealth from paper money losing value.
Here are some key takeaways:
- “On August 15, 1971, U.S. President Richard Nixon put an end to the Bretton Woods agreements, thus suspending the convertibility of the U.S. dollar into gold.”
- “Since then, the printing press has been running at full speed, and the dollar has lost more than 99% of its value.”
- “That’s one of the reasons why central banks continue increasing their gold reserves: the United States is leading with over 8,000 tons of gold, and China comes sixth with 1,948 tons.”
- “In this video, I will give you some tips that will help you to invest regularly in gold, 24 hours a day, 7 days a week, with any budget.”
- “[It’s possible to] buy gold without paying storage costs, while fully owning the metal and being able to buy it and resell it quickly. For example, it can be done on GOLD AVENUE.”
Want to know more? Tune in to see the full video here:
To turn on English subtitles, got to the bottom of the screen, click on Settings ➡️ Subtitles/CC ➡️ Auto-translate ➡️ English.
Who are Libre&Riche?
Libre&Riche is a popular YouTube channel led by French lawyer and finance expert Mathieu Faraco.
The channel is for those who seek to learn more about personal finance, savings, and investment.