Our Story Begins

In August 1971 the US government refused to give European central banks gold owed to them.

Martin Selmayr, EU Secretary-General, recently tweeted:

On 15/8/1971 Pdt Nixon used TV (a new medium at the time) to unilaterally end US commitment to the BrettonWoods system. Europe had to react, started work on a Monetary Union which eventually led to the €. Europe needs to take its destiny In its own hands.

That's the first time I saw a top Eurocrat op…