Tag: jerking

(Copyright 02-25-2025) by Dwight Fleming (Oroville, California)  On August 15, 1971, President Nixon went on national TV to announce his decision to “jerk the rug” out from anyone wanting to convert their U.S. dollars into gold.  This was also known as “closing the gold window” and taking the dollar off the “gold standard.” I remember seeing Nixon’s world-shaking speech on a Sunday evening.  In addition, Nixon also put into place a 90-day wage and price freeze in an attempt to curb inflation.  I had graduated from high school in June of that year and would be starting college in September.  I […]