The term Nixon Shock is used to refer to two different policy measures taken by U.S. President Richard Nixon in 1971 and 1972.
In 1971 Nixon unilaterally canceled the Bretton Woods system and stopped the direct convertibility of the United States dollar to gold. The second shock was the 1972 Nixon visit to China that brought a surprising new twist to Cold War diplomacy. (wikipedia)
WHAT ITS MEANS...
Dollar only the papers that contain certain numbers.
its very dangerous.
but Dinar is created from metal that contain gold as price as the value of dinar.
Because of the excessive printing of paper dollars, and the negative balance of U.S. trade, other nations were increasingly demanding fulfillment of America's "promise to pay". That is, they were demanding gold from the U.S. in exchange for paper dollars. France, in particular, made heavy and repeated demands and acquired large amounts of gold in that manner.
ARE YOU STILL HOLD YOUR "UN VALUE DOLLAR"?
Get the gold and leave the dollar if you smart.
Monday, January 21, 2008
GOLD VS DOLLAR