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55 years ago today, Richard Nixon defaulted on America's obligation to redeem Federal Reserve Notes in gold and took the U.S. off what remained of the gold standard and Constitutional money. Watch the YouTube video I created five years ago at the 50 mark. https://t.co/ZBzNYdyvsW This was a very prescient video. At the time I released it to warn about the imminent risks created by inflation, the Fed was still dismissing inflation as being transitory. Both the national debt and the gold price have increased substantially since it was made.