Nixon Holds Negotiations in Rome Over Monetary Arrangement
2 reports, 1 independent
Updated Oct 13
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What happened
Negotiations for a replacement arrangement took place in Rome on October 13, 2026. The reports state that the US promise of dollar convertibility to gold and BW payments arrangements were unsustainable. Nixon presented the suspension of dollar convertibility to gold as part of a larger economic policy reform package, which also included a 90-day wage-price freeze and a 10% tariff on imports.
From ipsnews.net
Why it matters
Nixon's policy decisions fundamentally altered the FED's operational framework by ending the gold standard. The suspension of dollar convertibility to gold was presented as part of a larger economic reform package.
From ipsnews.net