The Gold Standard For The U.S. & Other Foreign Governments 

-Insights and Intel regards the disposition of Gold Standard prior and present times

President Nixon on August 15, 1971 suspended the use of the Gold Standard

At that time Foreign Governments could redeem U.S Dollars for Gold at $35 dollars per ounce 

Reason For Change:

• Rising Debt Ceiling-Inflation-Excessive Money Printing 

• The System was Made to become Un-sustainable 

• France and other Governments began to demand Gold for dollars

At that time Nixon abruptly close the Gold window. Which effectively defaulted on the U.S dollar obligation 

The world then began to rely purely on a Debt-Based monetary system. This allowed governments to print unlimited money. However, it is now approaching its breaking point.

The U.S. Claims to hold 8, 133 metric tons of Gold-more than  any other nation has in storage:

• Fort Knox allegedly holds 4,581 metric tons, which is 56% of total U.S. Gold reserves, but that has not been audited for over 40 years

• New York Federal Reserve stored roughly 6,190 metric tons, which is much more than Fort Knox. However, portions belong to Foreign Governments, the Central Banks, International organizations, and the US Treasury. 

• Despite the New New York Reserves housing more than Fort Knox its role in the US Gold Policy is rarely discussed

• However, some reports indicate that much of the Gold is Leased, Swapped, or Re-Hypothecated, meaning multiple partners hold claims on the same gold

Gold is used as a hedge against inflation-but heretofore that seems to be changing. It is at the center of a financial shift that could re-define the Global Monetary System

It’s a fact of history that only Gold and Silver are used as a standard i.e. Money will conform

Steve Braxton, Former Sr Partner, KaratBars International Gold Bullion Education System, Retired C-Suites Executive & CEO Fortune 100,500, & 1000 Corporations