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Dollar Default

Dollar Default


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About the Book

President Richard Nixon's momentous decision to break the tie between the dollar and gold in August 1971 has become a legend in financial history. Nixon's action was the final step in a 38 year process that began with FDR's legislative initiatives. In 1933 FDR led the charge to end the right of the American people to own gold. Nixon's action went one step further. This step ended the right of foreign nations to exchange their dollars for gold, and broke a long-standing covenant. Through this measure the final connection between the dollar and gold ended. In Dollar Default, former Money Manager Bill Cross cuts through over three hundred years of propagandized faux history to voice a concise, balanced and opportune reminder that there was a profound reason the framers of the Constitution defined the dollar in terms of silver and gold. By and large Americans have forgotten if not been told of their ancestors first experiments with paper money. It was disastrous, so much so that the framers insisted on defining the dollar in terms of silver and gold in terms of weight and measure. Dollar Default tells us why. With a broad brush Bill Cross details the key moments in American financial history that have led us from paper money to sound money and back again to paper money. Written for the general reader who has a love of history Cross reveals the critical background information for a first step forward to greater understanding of money in America. With context being ever so important Cross takes us back to antiquity, brings us forward to early American history and then carries us up to the present day. After reading Dollar Default you will have a solid grasp of the basics of American financial history, and why gold and silver were important in the founding of America. Dollar Default will change forever the way you view the paper money in your wallet, and connect you again with your heritage.
About the Author: Bill Cross is an award winning Financial Consultant, Money Manager and stock trader. He has served as an Investment Consultant for Fortune 500 financial organizations, and as a Money Manager for a mutual fund. His brokerage licenses have included Series 3, 7, 8, 63 and 65. Mr. Cross has been in the financial services business since 1983. During his career Mr. Cross has managed six stock brokerage offices, and has hired and trained a noteworthy number of new Investment Consultants. Mr. Cross attended the University of Texas, has a degree in Finance from the University of Houston at Clear Lake and a Master's degree in Business Administration from the University of St. Thomas.


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Product Details
  • ISBN-13: 9781475261080
  • Publisher: Createspace Independent Publishing Platform
  • Publisher Imprint: Createspace Independent Publishing Platform
  • Depth: 13
  • Language: English
  • Returnable: N
  • Spine Width: 11 mm
  • Weight: 340 gr
  • ISBN-10: 147526108X
  • Publisher Date: 25 May 2012
  • Binding: Paperback
  • Height: 229 mm
  • No of Pages: 194
  • Series Title: English
  • Sub Title: How the Federal Reserve and the Government Betrayed Your Trust
  • Width: 152 mm


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