When was the convertibility of the dollar into gold suspended?
— The convertibility of the dollar into gold was temporarily suspended on August 15th, 1971.
What led to the global financial crisis in 2008?
— The global financial crisis in 2008 was caused by government bailouts and stimulus packages, which created a sense of unease and a deeper problem.
Why was the gold convertibility system suspended in 1971?
— The gold convertibility system was suspended in 1971 because countries became concerned about the US spending more money than it had gold reserves.
How does excessive money printing affect the value of currency?
— Excessive money printing leads to a decrease in purchasing power and higher prices for goods and services, eroding the value of currency.
What is the potential consequence of the Federal Reserve's money printing exercises?
— The Federal Reserve's money printing exercises may lead to a rapid decline in the value of the dollar, causing a worldwide loss of confidence in the currency and potentially leading to a currency crisis.
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