The Gold Crisis continues: the Confederation of Switzerland withdraws its Franc from the Bretton Woods system.  The previous month the central National Bank of Switzerland traded in 50,000,000 “dollars” (Bills of Credit) for gold (lawful Money).  As a result the “dollar” continues to lose value against gold falling to 43.95 “dollars” per ounce.

       [added 10/31/2022] Thanks to Jim Lorenz for this entry. 

       While the United states Armed Forces (private mercenaries) are in Vietnam, “united in … determination to take all necessary measures in support of freedom,” Republican (fascist/socialist) de facto President Nixon, Esq.—ostensibly  an advocate of the free-market—signs the Emergency Employment Act of 1971, guaranteeing 250,000,000 “dollars” in commercial bank loans to the Lockheed corporation (corporate welfare).

       NOTE: As an attorney (Officer of the Court) Nixon was ineligible to serve in two branches of government at the same time, according to Article I, Section 6 [Clause 2].

       [restored 10/31/2022]

Subsequent Events:

8/11/1971                   8/15/1971

Authority:

“Law of the Jungle”
ccc-2point0.com/preface

References:

David From, How We Got Here: The ’70s, (New York: Basic Books, 2000), 295-298

Richard Nixon – Statement on Signing Appropriation Bill for the Emergency Employment Act of 1971.
www.presidency.ucsb.edu/ws/index.php?pid=3114&st=&st1=

Richard Nixon – Statement About Senate Approval of the Emergency Loan Guarantee Act
www.presidency.ucsb.edu/ws/index.php?pid=3095&st=&st1=

http://minerals.usgs.gov/minerals/pubs/commodity/gold/300798.pdf
minerals.usgs.gov/minerals/pubs/commodity/gold/300798.pdf

Chronology of Significant Events
www.dof.ca.gov/HTML/FS_DATA/LatestEconData/Chronology/chronology.htm

Nixon Shock – Wikipedia, the free encyclopedia
en.wikipedia.org/wiki/Nixon_Shock

Current U.s. National Debt:

$36,167,124,467,492

Source