The money history that explains today · Lesson 8 of 10
The day the anchor was cut
August 15, 1971 suspended convertibility, described as temporary.
About 10 minutes · Foundation
What to take away
- Fixed parities collapsed within two years.
- No major currency has a metal definition now.
- The Fed's own history documents it.
Why this lesson is written this way
Each point above is checkable. Where the subject is genuinely disputed — the causes of inflation, the future of the dollar's reserve role, whether current debt levels are sustainable — the lesson states both readings rather than choosing quietly for you. Nothing here predicts a price, because nobody can.
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