Stacking News/Blog

Can Humans Make Gold? How Gold Is Created in Stars, Labs, and Why Stackers Should Not Worry For centuries, alchemists chased the most seductive idea in the history of money: turn something cheap into gold. Lead was dull, heavy, common, and ordinary. Gold was bright, rare, incorruptible, and powerful enough to decorate kings, finance empires, settle debts, inspire wars, and survive every paper currency that tried to replace it. If a person could turn lead into gold, he would n

Chapter V: The Fiat Era and the Great Bull Market 38. The Nixon Shock of 1971 Ended Dollar Convertibility into Gold On August 15, 1971, President Richard Nixon suspended the conversion of foreign official dollar holdings into gold. The decision effectively closed the gold window and ended the central mechanism of Bretton Woods. Gold’s annual average price was approximately $40.80 in 1971. It averaged around $58 in 1972, exceeded $97 in 1973, and averaged roughly $159 in 1974.