The Gold Crisis is flouted with the “Nixon Shock”: While the United states Armed Forces (private mercenaries) are in Vietnam, “united in … determination to take all necessary measures in support of freedom,” in a televised address to the nation, de facto Commander-in-Chief Nixon, Esq., outlines his “New Economic Policy”:

• Executive Order 11615 orders a 90-day freeze in any increases in prices, rents, salaries and wages; and
• Proclamation 4074, “temporarily suspends” (permanently ends) the international redeemability between the “dollar” (a Bill of Credit) and gold (lawful Money); imposes a 10 percent surcharge on the normal duties that are placed on all imports.

       NOTES:

• Arthur F. Burns, Chairman of the Federal Reserve Board of Governors (a Federal agency) that oversees the privately owned Federal Reserve System of (central) Banks, who opposed this move, warned Nixon that was playing into the hands of the Soviet Union: “Pravda [the communist government newspaper] would hail these developments as a sign of disintegrating capitalism.”
• At this time there were only 2.23 “dollars” in gold bullion available to redeem every 100 “dollars” of paper promises (Bills of Credit) issued by the unlawful FRScBs.
• In the two decades before Nixon’s abandonment of the international gold standard, the reliance of Federal Reserve Notes for international reserves grew by 55%.  In the two decades since that growth was 700%, and the amount of FRNs in circulation increased by 400%.  That 300% difference represents the amount of FRNs that are going to return home from abroad if the dollar loses its place as the world’s medium of exchange.
• In the three decades prior to this event, the U.s. had the largest trade surplus in the world; three decades after this event, the U.s. had the largest trade deficit in the world.
• Until this event, there had never been a time in recorded human history when there was not at least one paper currency in the world that was not linked to gold.
• 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].

       Postscripts:

• By the end of 1974, the “dollar” had fallen to 195 per ounce of Gold (lawful money).
• By the end of February 1979, the “dollar” had fallen to 250 per ounce of Gold (lawful money).
• By the end of July 1979, the “dollar” had fallen to 300 per ounce of Gold (lawful money).
• Over the course of the next half-century, the “dollar” had fallen to 1,800 per ounce of Gold (lawful money), losing 80% of its purchasing power.

       [restored 11/1/2022]