http://bphouse.com/honest_money/2009/06/14/uae-dirham-to-be-linked-to-gold/ Gold is Wealth Hiding in Oil Mon, 30 Jan 2012 17:03:07 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://bphouse.com/honest_money/2009/06/14/uae-dirham-to-be-linked-to-gold/comment-page-1/#comment-1285 Ivo Cerckel Sun, 14 Jun 2009 22:56:23 +0000 http://bphouse.com/honest_money/?p=1367#comment-1285 Yes, US Treasury Bonds and Treasury Bills came into existence before 15 August 1971 when US president Richard Nixon broke the Bretton Woods Agreement which linked the US dollar to gold at fixed parity (then at 40-something dollar an ounce) and all other currencies to the said dollar. Before that date, money could not be created out of thin air. But since that date, money in the US is being created out of thin air. Since 15 August 1971, US T-Bonds and T-Bills have therefore no more reason to exist. Yes, US Treasury Bonds and Treasury Bills came into existence before 15 August 1971 when US president Richard Nixon broke the Bretton Woods Agreement which linked the US dollar to gold at fixed parity (then at 40-something dollar an ounce) and all other currencies to the said dollar.
Before that date, money could not be created out of thin air.
But since that date, money in the US is being created out of thin air.
Since 15 August 1971, US T-Bonds and T-Bills have therefore no more reason to exist.

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