EGN invites you to join EGN Cross Functional Virtual: The Day Money Divorced Gold by Bart Remes
Date/Time: Tuesday, February 8, 2022. Networking at 8am. Interactive workshop at 8.30am – 09.55am.
The Day Money Divorced Gold by Bart Remes
Fifty years ago, something sinister happened. It was the day money divorced gold. On August 15, 1971, President Nixon removed the link between money and gold. President Nixon proclaimed – on Live TV – that this was just a temporary measure, necessary to ward off evil money speculators, and bring stability to the US dollar and to the world.
But that was not exactly the truth. It was a lie. It was the end of a heavily sculpted money policy that was never going to work.
What went wrong? That famous day, the USA de facto defaulted on the promise to exchange physical gold for paper dollars, at a price that was agreed upon in 1944, at the posh Mount Washington Hotel in Bretton Woods. It turned out that the agreed price was not graven in tables of stone. Fifty years later, President Nixon’s ‘temporary measure’ is still in place.
No big deal you might think. That is a long time ago. But from that day, for the first time in history, the entire world is on a paper standard. It means that everywhere, money production is at the discretion of the state. Print as you can. There is no longer a firm restriction by commodity money, like gold.
The result has been nothing but spectacular; eternal periods of inflation, enormous speculative bubbles, nefarious public debts, money collapses, and of course, those unwelcome economic crises.
About the speaker: Bart Remes
Bart is an Economist Entrepreneur. He works with entrepreneurs and help them become champions for customers and value. The tools and methods he uses, are based on Austrian School of Economics. The ability to think like an economist, is a crucial skill for entrepreneurs. Economics is about Human Choice and Action, not goods and services. It is a method rather than an answer. An apparatus of the mind a way to think out of the box.
As a result, his clients are able to understand the reality around them, put the dots together, make sound decisions, notice events that their untrained peers will miss, and avoid costly mistakes. He always reminds my clients that the real bosses of the company are the customers. They make poor men rich, and rich men poor. Sound economic thinking is an incredibly powerful tool to build a successful enterprise.
08.00 AM: Networking/ Registration
08.30 AM: Webinar start. EGN introductions and speaker introduction
08.35 AM: The Day Money Divorced Gold by Bart Remes
09.35 AM: Q & A and key takeaways
09.55 AM: Meeting end