Unhappy Anniversary This month marks 55 years since President Richard Nixon closed the “gold window,” severing the last link between the US dollar and gold. Closing the gold window left the US with a pure fiat currency. The results have been disastrous. The dollar has lost over 97 percent of its purchasing power since the Federal Reserve was created in 1913, with most of the dollar’s decline occurring since 1971. Fiat money is the real cause of the affordability crisis. https://ronpaulinstitute.org/unhappy-anniversary/