Making the global money machine
In this extract from Money Mayhem: The Bewildering Consequences of Cutting Money Free, markets expert John Looby explores the history of the gold-linked global currency, the moment when that changed, and the perils of what may be to come
The world changed on August 15, 1971. After almost a quarter of a millennium broadly tied to gold, the money of the world was cut free. The consequences have been dramatic and far-reaching. And we are still grappling with them.
The pressured decision of an ultimately disgraced US president a mere generation ago to break with centuries of accepted wisdom changed our world – and continues to profoundly affect our lives.
Developments as disparate and apparently unrelated as...
Subscribe from just 1€
Choose the subscription that is right for you
For the first month
€19.99 Monthly ThereafterSubscribe today
For the first year
€199.99 annually thereafterSubscribe today
For the first 90 days
€55.00 quarterly ThereafterSubscribe today
These offers are not available for current subscribers. Offers and pricing are subject to change without notice.
Terms & Conditions Apply