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Gold vs. S&P 500: Which Is the Best Reference Value?
On August 15, 1971 President Richard Nixon announced on national television the suspension of the gold backed US Dollar. That event, known as the "Nixon Shock", marked the end of the Bretton Woods system, based on the dollar 100% backed and convertible to gold; this is when the era of fiat money began. Since then, confidence in governments replaced the metallic support that had guaranteed the value of money until then.
In the following decades, the Standard & Poor’s 500 (S&P
17 hours ago4 min read
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