The demonetization of gold in 1971 (Nixon closing the gold window) occurred because the eurodollar market had grown larger than US dollar reserves; France under de Gaulle initiated a bank run on US gold at $35/ounce, forcing Nixon to abandon the Bretton Woods standard.
factualpending
Speaker
Tom LongoEvidence Quote
“that's ultimately what led to the demonetization of gold. Okay, because now there were more euro dollars than there were dollars.”
Source
Forget China, Trump’s Real Plan? Destroy the Eurodollar, Bankrupt Europe | Tom Luongo— Soar FinanciallyCreated: 8/11/2026, 7:03:10 AM
My Notes
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