Since the US lifted anchor on the Gold Standard in August 1971 making the US Dollar a Fiat Reserve Currency, the US economy has been propelled forward, no-longer tethered to the principles of Sound Money. Unfortunately, the reality is that this sort of political expediency is the equivalent of building a house on a foundation of sand versus solid bedrock, dooming it to be unable to withstand the economic storms and turmoil that inevitably lie ahead.
- Source, Gordon T Long
