The End of Bretton Woods

It’s good to see the birthday of fiat money getting attention today. Mises.org covers it, and LRC too. Lewis Lehrman offers a fascinating story of the Camp David meeting where the gold window was shut and where a handful of Nixon aides decided to impose wage and price controls at the same time. Very chilling material here. I’m particularly intrigued at the passing mention of Nixon’s own demand for a unified front. These economic advisers had to be for it all even if they were against it all. It’s a real look into the heart of how every regime works.