The Golden Elephant in the Room

Silence from the presidential candidates as the American dollar drops to a new low in value of less than one 2,700th of an ounce of gold.

AP/Elise Amendola, file
Twenty-dollar bills are counted on June 15, 2018, at North Andover, Massachusetts. AP/Elise Amendola, file

How amazing that the presidential campaign is less than two weeks away from the vote and neither one of the candidates has addressed the astounding collapse in value of the American dollar, which, this weekend, plunged to less than one 2,700th of an ounce of gold. It was only 53 years ago that, under the Bretton Woods agreement, dollars held by foreign governments were redeemable at a 35th of an ounce of gold. Since then the dollar has lost 99 percent of its value. 

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