Today, June 5th 2012 marks the 79th year since FDR removed the US and the world off of the last true gold standard.
This removal would cause much turmoil in financial markets and would eventually lead to the modified gold standard referred to as the Bretton Woods System, which was done away with by Nixon in 1970 and globally abolished by the IMF two years later in 1972. We are just about to the 41st year of global financial systems being run on completely fiat currency.
Central banks have been buying gold, Germany and France want the optional eurobond, which could be a possible out for the eurozone to be backed by the members gold holdings, as the yellow metal is once again trading above $1,600/oz.
Exciting times ahead for those that have been paying attention..
A few other events on this day in history, courtesy of the History Channel