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James Rickards: Trump and the fate of the dollar
By James Rickards
The Daily Reckoning, Baltimore
Thursday, March 27, 2025
What is the Mar-a-Lago Accord? And what would a Mar-a-Lago Accord mean for the value of the U.S. dollar?
We begin our analysis with the name itself. Mar-a-Lago Accord is an echo of the three major international currency accords since the original Bretton Woods Agreements reached in 1944.
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The first was the Smithsonian Agreement in December 1971. This came in the aftermath of President Nixon's decision on August 15, 1971, to end the convertibility of U.S. dollars into physical gold by U.S. trading partners at the fixed rate of $35.00 per ounce.
The major countries in the global system (U.S., UK, France, Germany, Italy, Japan, Netherlands, Sweden, Switzerland, Canada, Belgium, and Netherlands) met at the Smithsonian Institution in Washington to decide how to reopen the gold window. ...
... For the remainder of the commentary:
https://dailyreckoning.com/trump-and-the-fate-of-the-dollar/
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