Sterligoff Blog

Fast Track out of crisis:
From paper money to Gold standard

By German Sterligoff @ 08/07 2009

Bretton Woods Agreements of 1944 actually turned gold from major currency into reserve currency. In 1971 the USA temporarily refused gold backing of the dollar. Implementation of the Jamaican currency system in 1976 (acting up to date), finally abolished the 'dollar - gold' linkage and allowed the United States Federal Reserve System to work non-stop. Extensive amounts of printed money made a great illusion of global well-being in many countries. Each year the illusion grew bigger.

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